How Much Does Insurance Cost for a New Car in the First Year?
3 Answers
New car insurance in the first year typically costs around 4,000 to 7,000 yuan. Here are the types of insurance available for a new car: 1. Compulsory Traffic Insurance: This is a mandatory insurance required by the state. Without it, you cannot drive on the road, pass the annual inspection, and may face heavy fines if caught. 2. Third-Party Liability Insurance: The maximum compensation amount for compulsory traffic insurance is only 122,000 yuan. In the event of a major accident, especially involving death or disability, the compensation from compulsory traffic insurance is insufficient to cover the damages. Third-party liability insurance acts as a supplement to compulsory traffic insurance, covering the remaining costs after the compulsory insurance payout.
Last year I bought my first brand-new car and was quite concerned about the first-year insurance costs at that time. I inquired with several insurance companies before understanding that it depends on the specific car price and usage. For my car worth over 100,000 yuan, the insurance cost me more than 8,000 yuan, including compulsory insurance and commercial insurance portions. There are many influencing factors, such as the vehicle model size - SUV insurance is usually higher than sedans; the age of the owner - younger drivers pay higher premiums due to greater risk; and the residential address - urban areas might be more expensive than suburban areas. I suggest you directly ask the salesperson or get online quotes when buying a car - don't be afraid of the trouble, as comparing multiple options can save you hundreds. I remember my friend chose the low deductible option, which saved some money but offered less coverage, so you need to weigh the options. For beginners, the first-year cost is higher but provides peace of mind, and it will decrease in subsequent years.
As a budget-conscious housewife, my focus when handling new car insurance is to save some money. The first-year premium ranges from about 6,000 to 12,000 yuan, depending on the car's price—for example, a 200,000-yuan car might cost over 10,000. I compared three or four companies and found that entering the license plate number online gives an accurate quote. When choosing insurance, opt for a basic package to save costs initially, or install anti-theft devices for discounts. The key is not to blindly buy comprehensive coverage—assess your driving habits; urban driving carries higher risks and increases premiums. Choosing a higher deductible reduces premiums but means paying more out of pocket in case of an accident. I also negotiated a new customer discount with the insurer, saving over 500 yuan. Remember, the car-buying season can affect prices too—off-season quotes are more favorable. In the end, I secured it for 7,200 yuan.
