Is a Compulsory Traffic Insurance Policy Still Required for Vehicle Inspection in 2021?

[SanKathryn]

In 2021, if electronic insurance policies have been implemented locally, a paper insurance policy is not required; if electronic policies have not yet been implemented, then a paper insurance policy must be brought. According to Article 95 of the Road Traffic Safety Law: If a motor vehicle driven on the road does not display an inspection pass mark or insurance mark, or the driver does not carry the vehicle license or driving license, the traffic management department of the public security organ shall detain the motor vehicle, notify the party to provide the corresponding license, mark, or complete the relevant procedures, and may impose a penalty in accordance with the provisions of Article 90 of this Law (a warning or a fine of not less than 20 yuan but not more than 200 yuan). 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 limits for personal injuries, deaths, and property losses caused to victims (excluding vehicle personnel and the insured) in 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, mainly influenced by the number of car seats. Compared to the more than 20 exemption clauses in commercial third-party liability insurance, compulsory traffic insurance covers a much broader range, including losses caused by intentional acts of the victim, the insured's own property losses, related arbitration and litigation costs, and some indirect losses caused by the accident. Moreover, regardless of whether the insured vehicle is at fault in the accident, compulsory traffic insurance will compensate within the liability limits, with no deductible or exemption. Introduction to Electronic Insurance Policies An electronic insurance policy refers to an electronic policy issued by an insurance company using digital signature software that complies with the PKI system and an enterprise digital certificate, bearing the electronic signature of the insurance company. An insurance policy, abbreviated as a policy, is the formal written proof of an insurance contract between the insurer and the insured. The insurance policy must fully record the rights, obligations, and responsibilities of both parties to the insurance contract. The content recorded in the insurance policy serves as the basis for both parties to fulfill the contract. The insurance policy is proof of the establishment of the insurance contract. Advantages of Electronic Insurance Policies: Saves paper resources, eliminating the need to print insurance proof marks on paper; Saves time and is convenient, unrestricted by time or location, with information universally accessible online anytime, quickly and easily; Allows for reissuance and resending, eliminating worries about losing it. 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.