How to calculate compulsory car insurance

How to calculate compulsory car insurance

In recent years, with the continuous increase in car ownership, vehicle compulsory insurance (compulsory motor vehicle traffic accident liability insurance) has become the focus of attention of car owners. Compulsory vehicle insurance is an insurance compulsorily required by the state to protect the legitimate rights and interests of victims in traffic accidents. So, what is the calculation method for compulsory car insurance? This article will give you detailed answers.

1. Basic concepts of compulsory vehicle insurance

The full name of compulsory vehicle insurance is "compulsory motor vehicle traffic accident liability insurance". It is an insurance that all motor vehicles must be insured under Chinese law. Its main function is to provide victims with basic medical expenses and property damage compensation in the event of a traffic accident. The premium calculation method for compulsory auto insurance is relatively fixed, but it is also affected by many factors.

2. Calculation formula of compulsory automobile insurance

The formula for calculating the premium of compulsory auto insurance is:Premium = Basic premium × (1 + sliding scale). Among them, the basic premium is uniformly stipulated by the state, and the floating ratio is adjusted according to the nature of use of the vehicle, number of seats, region and other factors.

3. Factors affecting compulsory auto insurance premiums

1.vehicle type: Different types of vehicles (such as family cars, commercial vehicles, trucks, etc.) have different basic premiums.
2.Number of seats: The higher the number of seats, the higher the premium is usually.
3.Regional differences: The incidence of traffic accidents varies in different regions, and insurance premiums will also vary.
4.Historical accident records: Car owners who have no accident records in the previous year can enjoy premium discounts, and vice versa may face premium increases.

4. Specific calculation examples of compulsory auto insurance premiums

The following is an example of compulsory auto insurance premium calculation for a family car (less than 6 seats):

5. Purchase channels for compulsory auto insurance

Compulsory auto insurance can be purchased through the following channels:
1.Insurance company official website: Official websites of large insurance companies such as PICC, Ping An, and CPIC.
2.Third party platform: Platforms such as Alipay and WeChat also provide vehicle compulsory insurance purchase services.
3.Offline business hall: Go directly to the insurance company’s business office to apply.

6. Things to note about compulsory car insurance

1.Timely renewal of insurance: If the vehicle compulsory insurance expires and is not renewed, the vehicle will not be able to drive on the road.
2.Check information: It is necessary to carefully check the vehicle information when purchasing to avoid incorrect information affecting claim settlement.
3.Save credentials: The insurance policy and payment voucher must be kept properly for inspection.

7. Recent hot topics

Recently, discussions about compulsory vehicle insurance have mainly focused on the following aspects:
1.Premium adjustment: Due to the increase in traffic accident rates in some areas, the premiums for compulsory auto insurance have been increased.
2.e-policy: More and more regions are implementing electronic insurance policies, eliminating the need for car owners to carry paper vouchers.
3.Claims simplified: Some insurance companies have launched online claims services to improve claims efficiency.

Conclusion

Although the calculation of compulsory vehicle insurance is relatively fixed, car owners still need to choose appropriate purchasing channels and insurance plans based on their own circumstances. By understanding the calculation method and influencing factors of compulsory vehicle insurance, car owners can better plan insurance expenditures and ensure driving safety.