If electronic insurance policies have been implemented in your local area, there is no need to display the compulsory traffic insurance decal on your vehicle. However, if electronic policies have not yet been adopted, you must affix the compulsory traffic insurance decal. According to Article 95 of the Road Traffic Safety Law: 'If a motor vehicle driven on the road does not display the inspection compliance mark or insurance mark, or the driver fails to carry the vehicle registration certificate 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 necessary 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).' As of 2022, the following provinces and cities have abolished the paper-based compulsory traffic insurance decal: 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 where the insurance company compensates for personal injuries, deaths, and property losses (excluding vehicle occupants and the insured) caused by road traffic accidents involving the insured vehicle, within the liability limits. The premium is based on a nationally unified standard, but prices vary depending on the vehicle type, 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 broader range, including losses caused intentionally by the victim, the insured's own property damage, arbitration and litigation costs, and certain indirect losses. Moreover, regardless of whether the insured vehicle is at fault in an accident, compulsory traffic insurance provides compensation within the liability limits, with no deductible or exemption. Introduction to Electronic Insurance Policies: An electronic insurance policy refers to a digital policy issued by an insurance company using digital signature software and enterprise digital certificates compliant with the PKI system, bearing the insurer's electronic signature. An insurance policy, or simply 'policy,' is the formal written proof of the insurance contract between the insurer and the insured. It must fully document the rights, obligations, and responsibilities of both parties and serves as the basis for contract fulfillment. The policy is evidence of the establishment of the insurance contract. Advantages of Electronic Insurance Policies: Saves paper resources, eliminating the need to print insurance proof decals; Time-saving and convenient, unrestricted by time or location, with information accessible online anytime, quickly and efficiently; Allows for reissuance or resending, eliminating concerns about loss—paper versions can still be printed or mailed if needed; Simplifies management, as electronic standardization makes it easier for insurance companies and traffic police departments to manage vehicle insurance information.
