Can I renew my motorcycle insurance after it expires?
1 Answers
Yes, you can renew it. Here is additional information: Reasons why renewal is mandatory: National regulations prohibit vehicles without compulsory traffic insurance from being driven on the road. According to China's traffic laws, if a vehicle owner is found without compulsory insurance, they will be fined double the premium amount, required to purchase the compulsory insurance, and have their vehicle impounded. Importance of timely renewal: Renewal can be complicated. For vehicles that have lapsed coverage, if you want to purchase vehicle damage insurance, you need to simultaneously provide inspection photos. This is an underwriting requirement by insurance companies, mainly to avoid future claim disputes and moral hazards. Premiums may increase. For policies lapsed for more than three months, premiums will be adjusted to standard rates without discounts, applicable to both compulsory insurance and commercial insurance, thereby increasing the cost for vehicle owners.