Does Compulsory Traffic Insurance Cover Flooded Vehicles?

[IanMarie]

Compulsory traffic insurance does not cover flooded vehicles because it is designed to compensate third-party vehicles and individuals. Vehicle damage can only be claimed if you have purchased vehicle damage insurance. Compulsory traffic insurance is mandatory by the state, and it is required for vehicles to legally operate on the road. According to Article 95 of the Road Traffic Safety Law: If a motor vehicle driven on the road does not display an inspection compliance mark or insurance mark, or if the driver fails to carry the vehicle registration certificate or driving license, the traffic management department of the public security organ shall detain the vehicle, notify the party to provide the corresponding certificates or marks, or complete the necessary procedures, and may impose penalties in accordance with Article 90 of this Law (a warning or a fine ranging from 20 to 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 a nationally unified standard. However, the price of compulsory traffic insurance varies depending on the vehicle type, with the main influencing factor being the number of seats. Compared to the over 20 exemption clauses in commercial third-party liability insurance, compulsory traffic insurance covers a much broader range, including losses caused by intentional actions of the victim, property losses of the insured, related arbitration and litigation costs, and certain indirect losses from accidents. Moreover, regardless of whether the insured vehicle is at fault in an accident, compulsory traffic insurance will compensate within the liability limits, with no deductible or exemption. Introduction to Electronic Insurance Policies An electronic insurance policy refers to a digital policy issued by an insurance company 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, commonly referred to 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 marks; Time-saving and convenient, unrestricted by time or location, with information accessible online anytime, quickly and easily; Allows for reissuance or resending, eliminating concerns about loss. If a paper version is needed offline, it can be printed or mailed; Simplifies management, as electronic standardization makes it easier for insurance companies and traffic police departments to manage vehicle insurance information.