If driving without a compulsory traffic insurance label and not in an area with electronic policy, according to the "Road Traffic Safety Law", a warning or a fine ranging from 20 to 200 yuan will be imposed. Article 95 stipulates: If a motor vehicle driven on the road does not display the inspection qualification label, insurance label, or the driver fails to carry the vehicle license or driving license, the traffic management department of the public security organ shall detain the motor vehicle and notify the party to provide the corresponding license, label, or complete the relevant procedures. Compulsory Traffic Insurance for Vehicles: The full name of compulsory traffic insurance is "Compulsory Liability Insurance for Motor Vehicle Traffic Accidents". It is a compulsory liability insurance where the insurance company compensates within the liability limit for personal injury, death, and property loss of victims (excluding vehicle personnel and the insured) caused by road traffic accidents involving the insured motor vehicle. The premium is based on the nationally unified standard rates. However, the price of compulsory traffic insurance varies for different vehicle types, with the main influencing factor being the number of car seats. Compared to the more than 20 exemption clauses of commercial third-party insurance, the exemption scope of compulsory traffic insurance covers losses caused by intentional acts of the victim, the insured's own property loss, related arbitration and litigation costs, and some indirect losses caused by the accident, with a much broader coverage. Moreover, regardless of whether the insured vehicle is at fault in the accident, compulsory traffic insurance will compensate within the liability limit, with no deductible or exemption. Introduction to Electronic Policy: An electronic policy refers to an electronic insurance policy issued by an insurance company with its electronic signature, using digital signature software and enterprise digital certificates that comply with the PKI system. An insurance policy, abbreviated 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 is the basis for both parties to fulfill the contract. The policy is proof of the establishment of the insurance contract. Advantages of Electronic Policy: Saves paper resources, eliminating the need to print insurance proof labels; Saves time and is convenient, not limited by time or place, with information universally available online for quick and easy access; Allows for reissuance and resending, eliminating worries about loss. If a paper version is needed offline, it can also be printed or mailed; Facilitates management, as electronic unification makes it easier for insurance companies and traffic police departments to manage the insurance information of various vehicles.
