Does Insurance Take Effect on the Day of Vehicle Pickup?
1 Answers
In the "Notice on Strengthening the Management of Compulsory Traffic Insurance Underwriting," it has been clearly stipulated that compulsory traffic insurance takes effect immediately upon purchase and does not require waiting until the next day. However, the effective time of commercial insurance is determined by the insurance company, as commercial insurance is an additional type of insurance offered by insurance companies and is not a mandatory national vehicle insurance. Below is a partial introduction to auto insurance: 1. Components: Auto insurance generally includes two parts: basic insurance and additional insurance. Basic insurance is further divided into vehicle damage insurance and third-party liability insurance. 2. Coverage: Vehicle damage insurance compensates for the loss of the insured vehicle; third-party liability insurance compensates for targets outside the insured vehicle, such as people and public property hit, the other party's car, etc.; passenger liability insurance compensates for the loss of people and property inside the insured vehicle; theft insurance compensates for the theft of the insured vehicle; no-deductible coverage ensures 100% compensation in case of an accident. If no-deductible coverage is not purchased, the policyholder bears 30% of the deductible for each accident.
