When buying a new car, it is very important to choose the appropriate insurance.
Insurance can mitigate your financial losses in the event of an accident.
The following will be a detailed description of the types of insurance that should be considered for the purchase of a new car!
Compulsory traffic insurance is a type of insurance that is compulsory by national law, and it is also the basic protection for you and your car. In the event of an accident, compulsory liability insurance can greatly reduce your financial burden and resolve disputes.
The most important thing is that if you do not purchase compulsory insurance, you will not be able to license, transfer and annual inspection. If investigated, your vehicle may be impounded and subject to administrative penalties.
Therefore, before hitting the road, it is necessary to purchase compulsory traffic insurance.
Vehicle and vessel tax is also a must, which is another important condition for whether the car can be driven on the road.
If you don't buy it, not only will the car not be able to go on the road, but you will also be refunded and charged liquidated damages.
Third Party Liability Insurance:
Referred to as triple liability insurance, it is used to compensate for losses caused to third parties in an accident, including property damage and personal injury, but does not include mental damage expenses and other indirect losses.
Compulsory traffic insurance and third-party liability insurance are purchased at the same time, so that in the event of a major traffic accident, the insurance company can pay additional costs.
Vehicle Damage Insurance:
Referred to as vehicle damage insurance, it is used to compensate for the cost of damage to the vehicle caused by its own reasons or other objective reasons, such as flooding or fire.
For new car purchases, it is wise to purchase vehicle damage insurance if driving skills or driving habits do not provide adequate protection.
For example, let's say you accidentally scratch another vehicle, and the vehicle damage insurance will reimburse the cost of repairing the vehicle.
Liability insurance for people on board:
It is also called seat insurance, which is used to compensate for the injury of passengers on the bus.
This type of insurance is charged based on the number of seats and differentiates between the driver and the passenger.
However, in general, occupant liability insurance is less insured.
To supplement your protection, consider purchasing more cost-effective accident insurance.
Compulsory traffic + three liability insurance is the minimum allocation, and the other three liability insurance starts at least 1 million, so it makes no sense to buy low.
And 500,000 three responsibilities and 1 million three responsibilities are not much different from the premium!
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