The types and functions of automobile insurance are as follows:
- Compulsory traffic insurance, its function is: the insurance company will compensate for the property loss, injury and death caused by the owner driving the insured vehicle;
- The third party liability insurance has the same function as the compulsory insurance, but the compensation amount of compulsory insurance is relatively low, so the third party liability insurance can be purchased as a supplement;
- Vehicle loss insurance, its function is: if the insured vehicle is damaged by accident or natural disaster, the insurance company will compensate;
- Scratch insurance, its function is to supplement the car damage insurance, mainly for the scratch on the car body paint surface due to accident, and the insurance company will make compensation.