If electronic insurance policies have been implemented in the local area, it is no longer necessary to display the compulsory traffic insurance sticker on the vehicle; if electronic insurance policies have not yet been implemented, the compulsory traffic insurance sticker must still be displayed. According to Article 95 of the Road Traffic Safety Law: If a motor vehicle driven on the road does not display the inspection qualification mark or insurance mark, or does not carry the vehicle license or driver's 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 corresponding procedures, and may impose penalties 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). As of 2022, the provinces and cities that have abolished the paper label for compulsory traffic insurance include: Beijing, Shanghai, Shandong, Shanxi, Guangdong, Henan, Hubei, Hunan, Jiangxi, Guizhou, Guangxi, Yunnan, Shaanxi, Hebei, Sichuan, and Gansu. Compulsory Traffic Insurance for Vehicles: The full name of compulsory traffic insurance is "Compulsory Liability Insurance for Motor Vehicle Traffic Accidents." It is a mandatory liability insurance under which the insurance company compensates for personal injuries, deaths, and property losses of victims (excluding vehicle occupants and the insured) caused by road traffic accidents involving the insured motor vehicle within the liability limit. 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 vehicle seats. Compared to the more than 20 exemption clauses in commercial third-party liability insurance, the exemption scope of compulsory traffic insurance covers losses caused by intentional acts of the victim, property losses of the insured, related arbitration and litigation costs, and some indirect losses caused by accidents, 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 Insurance Policies An electronic insurance policy refers to an electronic policy issued by an insurance company using digital signature software and enterprise digital certificates that comply with the PKI system, bearing the electronic signature of the insurance company. An insurance policy, abbreviated as a policy, is the formal written proof of the 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 is 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 labels; Saves time and is convenient, not restricted by time or location, with information universally accessible online anytime, quickly and easily; 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. After electronic unification, insurance companies and traffic police departments can more easily manage the insurance information of each vehicle.
