Can the insurance purchased at a 4S store be refunded and repurchased?
3 Answers
Yes. People who are unaware of the situation may think that canceling insurance must be very troublesome, but the actual situation is that as long as the insurance has not expired and no claims have been made during the insurance period, the insurance company can directly cancel the insurance. Of course, if your car has already been involved in an accident, then it cannot be canceled. Types of car insurance that new cars need to purchase: 1. Compulsory Traffic Insurance: Compulsory Traffic Insurance is a mandatory insurance that all vehicles must purchase. In the event of a traffic accident, the insurance company can only compensate the party that was hit, meaning the conditions for compensation are limited. At the same time, if you do not purchase Compulsory Traffic Insurance, your car will lose its eligibility for annual inspection. 2. Third-party Commercial Liability Insurance: Most car owners choose to insure with Compulsory Traffic Insurance and Third-party Liability Insurance. Since the amount of compensation provided by Compulsory Traffic Insurance is limited, purchasing Third-party Liability Insurance can compensate for the part that exceeds the coverage of Compulsory Traffic Insurance. Even if an accident occurs, you can still receive a relatively reasonable compensation. 3. No Deductible Insurance: It is an independent basic insurance type, while No Deductible Insurance is an additional optional insurance for cars. Therefore, purchasing this type of insurance is also very necessary.
I've helped others with similar situations before. The insurance purchased at a 4S dealership can be refunded, but it requires some procedures. You need to contact the insurance company or the 4S salesperson, provide the insurance purchase documents, and they will calculate the refund amount after verification. Generally, if there are no claims in the short term, the refund can be substantial, but after a few months of use, there might be a 20-30% handling fee deducted. The key point is, after canceling, you can immediately purchase new insurance from another company, such as comparing prices online—you might save a few hundred dollars. When canceling, pay attention to the contract terms; some companies have a grace period allowing for a full refund. Don’t worry about the hassle; just a phone call can get it done, and make sure the new insurance provides comprehensive coverage.
I've done this too! The insurance bought at a 4S dealership isn't mandatory, you can totally cancel and repurchase. Cancellation isn't too difficult - just call the insurer's hotline or visit a branch to fill a form. They'll calculate the refund based on remaining coverage period; for example, canceling halfway through a 1-year policy might incur a few hundred yuan service fee. When repurchasing, compare quotes online - those auto insurance apps provide instant quotes to help you find better rates or service. Just remember: never leave yourself uninsured during transition, always secure new coverage first. The whole process took me half a weekend, saving both money and hassle. Definitely ask friends for insurer recommendations too.
