How is the first-year insurance for used cars calculated?

[StWillow]

For the first year of used car insurance, the calculation is based on the basic premium rate, which neither increases nor decreases. Below are the methods regarding the floating rates of compulsory traffic insurance: 1. First-time: The premium rate for motor vehicles insured for compulsory traffic insurance for the first time does not float. 2. Insurance period: During the insurance period, if the ownership of the insured motor vehicle is transferred, the compulsory traffic insurance contract must be modified, and the premium rate does not float. 3. Temporary road use: For motor vehicles temporarily used on the road or overseas motor vehicles temporarily entering the country and insured for short-term compulsory traffic insurance, the premium rate does not float. In other cases of short-term compulsory traffic insurance, the premium is based on the short-term benchmark premium and floats according to the above standards. 4. Recovery after loss: If the insured motor vehicle is recovered after being confirmed lost by the public security authorities, and road traffic accidents occurred during the loss period as proven by the policyholder, the compulsory traffic insurance rate does not increase. 5. Untimely renewal: If the compulsory traffic insurance policy is not renewed in time after the expiration of the previous period, the floating factor calculation period still ranges from the issuance date of the previous policy to the issuance date of the current policy. 6. Cross-province change of insured location: Before the national motor vehicle insurance information platform is interconnected or national information is exchanged, if the policyholder can provide relevant documents when changing the insured location across provinces, the compulsory traffic insurance rate may decrease. Otherwise, the rate does not float.