Is it still necessary to display the car insurance sticker now?
1 Answers
Currently, the annual vehicle inspection labels have been digitized and no longer need to be displayed on the vehicle. Below is relevant information about vehicle insurance: 1. Introduction: Vehicle insurance, also known as motor vehicle insurance or auto insurance, refers to a type of commercial insurance that covers liability for personal injuries or property damage caused by natural disasters or accidents involving motor vehicles. Auto insurance is a category of property insurance. Within the field of property insurance, auto insurance is relatively new, as it emerged and developed alongside the invention and popularization of automobiles. Unlike modern motor vehicle insurance, early auto insurance primarily focused on third-party liability coverage and gradually expanded to include risks such as collision damage to the vehicle body. 2. Classification: Commercial auto insurance is an open-valued insurance, divided into basic coverage and additional coverage, with the latter not being available as standalone insurance. Basic coverage includes third-party liability insurance and vehicle damage insurance (comprehensive coverage). Additional coverage includes full vehicle theft insurance (theft coverage), on-board liability insurance, no-fault liability insurance, cargo drop liability insurance, standalone glass breakage insurance, vehicle downtime loss insurance, spontaneous combustion insurance, new equipment loss insurance, and no-deductible special coverage. Compulsory traffic insurance (i.e., compulsory motor vehicle traffic accident liability insurance) also falls under the broad category of third-party liability insurance. Compulsory traffic insurance is mandatory; vehicles must purchase it to be legally driven, undergo annual inspections, and be registered. In the event of third-party losses requiring claims, compulsory traffic insurance must be paid out first before other coverages are applied.
