Compulsory Motor Liability Insurance

Compulsory Motor Liability Insurance covers injuries to others in a car accident, including passengers in your own vehicle, drivers and passengers in other vehicles, and pedestrians, while it does not cover injuries to the driver of your own vehicle (you). Further, it pays claims with limits, regardless of whether the insured party is at fault. Specifically, regardless of either party being held liable, the victim or his or her survivor scan claim compensation against the insurance company or the “Motor Vehicle Accident Compensation Fund” in accordance with the relevant regulations.

Voluntary Motor Insurance

Motor insurance is primarily categorized into compulsory motor insurance and voluntary motor insurance. Compulsory motor insurance is required by law with respect to each vehicle, while voluntary motor insurance may be enrolled per personal need. Common voluntary motor insurance products include third party liability, physical damage, theft loss, excess liability, driver accident and passenger liability endorsements, which may provide better protection.

Accident Insurance

Accident insurance covers a payout when the insured is dead or disabled or incurs medical expenses due to an accident. An accident occurs when the three conditions, namely external, sudden and non-disease conditions, sustain at the same time. In other words, an incident caused by factors including disease, willful acts or natural aging, will not be covered by accident insurance.

Travel Accident Insurance

Travel Accident Insurance, also known as Travel Insurance, refers to an insurance type that may provide protection to tourists and their property when they are traveling. Such insurance type usually covers accidents, flight delays and luggage delay, etc., and may also provide additional coverage for emergency medical service fees and tour cancellations, if necessary.

Residential Fire Insurance and Earthquake Insurance

Residential Fire Insurance and Earthquake Insurance are two different insurance products, but they are usually tied up to form the “Basic Residential Fire and Earthquake Insurance.” Residential fire insurance primarily covers losses suffered by residences due to accidents including fire, lightning strikes, explosion, collision of motor vehicles, smoke, strike, riot, civil commotion, malicious sabotage and theft, etc. Basic residential and earthquake insurance covers losses caused by the disasters including earthquake, and any fire, explosion, landslide, ground subsidence, tsunami and floods caused therefore.