How to Buy Insurance for the First Year of a Used Car?
2 Answers
The first-year insurance premium for a used car is calculated at the original price for compulsory traffic insurance; the first-year insurance for a used car must be paid at the original price. If the transfer of a used car significantly increases the risk level of the vehicle, the insurance company may increase the premium or terminate the contract within 30 days. Insurance should be based on the actual value of the used car.
As a seasoned driver who's been behind the wheel for decades, I find first-year insurance for used cars pretty straightforward. Compulsory traffic insurance is non-negotiable – it's mandatory by law, with coverage around 120,000 yuan to handle basic compensation. I personally prefer adding commercial insurance, like third-party liability coverage of at least 1 million yuan to handle potential collisions with luxury vehicles, plus vehicle damage insurance to cover repair costs. Before visiting insurers, prepare your documents: purchase contract, duplicate of vehicle license, and ID copies to avoid wasted trips. Used car insurance premiums might be higher depending on vehicle history and depreciation rate. I often compare quotes directly at 4S shops or online platforms, choosing established companies with good service reviews. Never skip essential coverage just to save money – safety comes first. After decades of driving, these details aren't something to overlook.
