Do I still need to display the compulsory traffic insurance decal in 2021?

[MartinLee]

In 2021, if electronic insurance policies have been implemented in your local area, it is no longer necessary to display the compulsory traffic insurance decal on your vehicle. According to Article 95 of the Road Traffic Safety Law: If a motor vehicle driven on the road does not display an inspection compliance label or insurance label, or does not carry the vehicle registration certificate or driver's license, the traffic management department of the public security organ shall detain the vehicle, notify the party to provide the corresponding license, label, or complete the necessary procedures, and may impose penalties in accordance with Article 90 of this Law (a warning or a fine of not less than 20 yuan but not more than 200 yuan). Compulsory Traffic Insurance for Vehicles: The full name of compulsory traffic insurance is "Compulsory Liability Insurance for Motor Vehicle Traffic Accidents." It is a mandatory liability insurance where the insurance company compensates for personal injuries, deaths, and property losses of victims (excluding vehicle occupants and the insured) caused by road traffic accidents involving the insured vehicle, within the liability limits. The premium is based on the nationally unified standard rates. However, the price of compulsory traffic insurance varies for different vehicle types, primarily influenced by the number of vehicle seats. Compared to the more than 20 exemption clauses in commercial third-party liability insurance, compulsory traffic insurance covers a much broader range, including losses caused by intentional acts of the victim, the insured's own property losses, related arbitration and litigation costs, and certain indirect losses caused by accidents. Moreover, regardless of whether the insured vehicle is at fault in the accident, compulsory traffic insurance will provide compensation within the liability limits, with no deductibles or exemptions. Introduction to Electronic Insurance Policies An electronic insurance policy refers to a digital policy issued by an insurance company to clients using digital signature software and enterprise digital certificates that comply with the PKI system, bearing the electronic signature of the insurance company. An insurance policy, abbreviated as a policy, is the official written proof of the insurance contract between the insurer and the insured. The policy must fully record the rights, obligations, and responsibilities of both parties to the insurance contract. The content recorded in the policy serves as the basis for both parties to fulfill the contract. The insurance policy is proof of the establishment of the insurance contract. Advantages of electronic insurance policies: Saves paper resources, eliminating the need to print insurance proof labels; Time-saving and convenient, not restricted by time or location, with information universally accessible online anytime, quickly and easily; Allows for reissuance or resending, eliminating worries about losing it. If a paper version is needed offline, it can also be printed or mailed; Easier management, as electronic unification makes it more convenient for insurance companies and traffic police departments to manage the insurance information of various vehicles.