Which types of car insurance are generally required?
1 Answers
Compulsory traffic insurance and commercial insurance. Compulsory traffic insurance is one of the mandatory car insurances that vehicle owners must purchase. Without compulsory traffic insurance, owners cannot pass their vehicle annual inspections. Commercial insurance is optional. Additional Information: 1. Compulsory Traffic Insurance: Full name: "Compulsory Traffic Accident Liability Insurance for Motor Vehicles." It is a mandatory liability insurance where the insurance company compensates for personal injuries, deaths, and property losses (excluding the vehicle's occupants and the insured) caused by road traffic accidents involving the insured vehicle, within the liability limits. Compulsory traffic insurance is also China's first mandatory insurance system implemented under national law. 2. Commercial Insurance: In addition to the mandatory compulsory traffic insurance, there are several types of commercial insurance. The most commonly purchased ones include: vehicle damage insurance, third-party liability insurance, passenger liability insurance, and theft insurance. Beyond these, there are additional optional coverages such as standalone glass breakage insurance, body scratch insurance, spontaneous combustion insurance, and vehicle water damage insurance, which can be chosen as needed.
