Car Insurance

[beepbeepph]

As a car owner, it's one of our responsibilities to purchase car insurance as it will not just help our car but also to the future expenses we might need to pay.

In our country, we are required to purchase CTPL insurance before getting our car registered. CTPL insurance helps car owners like us in providing financial obligation that covers damage, medical expenses or death of a certain person that was involved during a road accident.

I also find this car insurance beneficial. Is this also regulated in some countries? And what are the car insurance you find important? Your thoughts are highly appreciated.

[JohnDavid123]

The fact is that different countries follow different policies when it comes to getting car insurance. Compulsory Third Party Liability (CTPL) insurance is mandatory for car owners in different countries, including the United States, Thailand, Philippines, China, Malaysia, and many others.
Here are some other important car insurance types that are beneficial:
1- Liability coverage
Liability coverage is demanded in most US states as a legal imperative to drive a car. Liability insurance may help cover damages for injuries and property damage to others for which you become lawfully liable, occurring from a covered accident.
2- Collision insurance
Collision insurance may cover damage to your car after an accident involving another vehicle. It also helps to repair or replace a covered vehicle.
3- Comprehensive insurance
Comprehensive insurance can provide an extra level of coverage in the instance of an accident involving another vehicle. It may help pay for damage to your car due to incidents besides collisions, including vandalism, certain weather events, and accidents with animals.
4- Personal injury protection insurance
Personal injury protection insurance may cover certain medical expenses and loss of income resulting from a covered accident. Depending on the limits of a policy, personal injury protection could cover as much as 80% of medical and other expenses stemming from a covered accident.
5- Gap insurance
Car value can depreciate instantly, so an auto insurance settlement might not be enough to cover the cost of a loan. Gap insurance may help certain drivers cover the amount owed on a car loan after a total loss or theft.
6- Classic car insurance
Classic car insurance provides specialized coverage designed for the unique needs of vintage and classic car collectors.
Even if you buy a car lease or swap the lease through leasing companies, the company will ask you for insurance details. Therefore, it is better to insure your car before time.

[beepbeepph]

Have to agree that CTPL insurance is only required in some countries. Also, this insurance is only beneficial in certain situations. Which is why it's important that a car owner should know some other types of car insurance and its coverage so that they will be able to identify what other insurance they need to purchase. Having other car insurance will help you in the future when such situation arises.. Thanks for sharing your thoughts as well as some list of important car insurance.