Which types of car insurance should you generally purchase?
1 Answers
Generally, vehicles require 3 types of insurance. Below are specific introductions to each insurance: Compulsory Traffic Accident Liability Insurance: Full name is 'Motor Vehicle Traffic Accident Liability Compulsory Insurance'. Driving without this insurance is illegal. Vehicle Damage Insurance: This insurance covers compensation for vehicle damage, helping to reduce losses from collisions and other damages. Third-party Liability Insurance: Provides corresponding compensation when an accident causes losses to a third party. After the auto insurance reform, the coverage of Vehicle Damage Insurance has expanded, including previously optional add-ons like non-deductible insurance and water damage insurance, which are now incorporated into Vehicle Damage Insurance.