If electronic insurance policies have been implemented in your locality, there is no need to display the compulsory traffic insurance decal on your vehicle; if electronic insurance policies have not yet been implemented, the decal must 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 if the driver does not carry the vehicle license or driving license, the traffic management department of the public security organ shall detain the vehicle, notify the party to provide the corresponding license, mark, or complete the required procedures, and may impose penalties in accordance with Article 90 (a warning or a fine ranging from 20 to 200 yuan). Compulsory Traffic Insurance for Automobiles: The full name of compulsory traffic insurance is 'Compulsory Liability Insurance for Motor Vehicle Traffic Accidents.' It is a mandatory liability insurance where the insurance company compensates for personal injuries, deaths, and property losses of victims (excluding vehicle occupants and the insured) caused by road traffic accidents within the liability limits. The premium is based on the nationally unified standard rates. However, the price of compulsory traffic insurance varies for different vehicle types, primarily influenced by the number of seats. Compared to the over 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 certain indirect losses due to accidents. Moreover, regardless of whether the insured vehicle is at fault in an accident, compulsory traffic insurance will provide compensation within the liability limits. Introduction to Electronic Insurance Policies: An electronic insurance policy refers to a digital policy issued by an insurance company using digital signature software and corporate 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 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 serves as the basis for both parties to fulfill the contract. The 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 decals; Saves time and is convenient, unrestricted by time or location, with information readily accessible online anytime, quickly and easily; Allows for reissuance and resending, eliminating concerns about loss. If a paper version is needed offline, it can be printed or mailed; Facilitates management, as electronic standardization makes it easier for insurance companies and traffic police departments to manage the insurance information of various vehicles.
