Is it better to buy 500,000 or 1,000,000 for third-party liability insurance?
1 Answers
This depends on your financial situation. Of course, the more coverage, the better, if you can afford it. The higher the coverage, the higher the maximum compensation amount in case of an accident. The premium calculation for third-party liability insurance is based on a fixed rate derived from the rate table, multiplied by the insurance company's discount rate, resulting in the final premium amount. The premium for third-party liability insurance is 561 yuan higher for 1,000,000 coverage than for 500,000 coverage. If there is a discount, the amount decreases proportionally. Car third-party liability insurance: 100,000 coverage base premium: main insurance 962 yuan, non-deductible 144.3 yuan; 200,000 coverage base premium: main insurance 1191 yuan, non-deductible 178.64 yuan; 300,000 coverage base premium: main insurance 1346 yuan, non-deductible 201.9 yuan; 500,000 coverage base premium: main insurance 1615 yuan, non-deductible 242.25 yuan; 1,000,000 coverage base premium: main insurance 2103 yuan, non-deductible 315.44 yuan.