If electronic insurance policies have been implemented locally, there is no need to display the compulsory traffic insurance sticker on the vehicle. However, if electronic 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 compliance mark or insurance mark, or if 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 required procedures, and may impose penalties in accordance with Article 90 of this law (a warning or a fine ranging from 20 to 200 yuan). As of 2022, 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 Motor Vehicle Traffic Accident Liability Insurance." It is a mandatory liability insurance where the insurance company compensates for personal injury, death, and property losses of victims (excluding vehicle occupants and the insured) caused by road traffic accidents involving the insured vehicle, 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 vehicle seats. Compared to the more than 20 exemption clauses in commercial third-party liability insurance, compulsory traffic insurance covers a much broader range, including losses caused by intentional actions of the victim, property losses of the insured, related arbitration and litigation costs, and some indirect losses caused by accidents. Moreover, regardless of whether the insured vehicle is at fault in the 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 enterprise digital certificates that comply with the PKI system, bearing the electronic signature of the insurance company. The insurance policy, abbreviated as "policy," is the formal written proof of the insurance contract between the insurer and the insured. It must fully record the rights, obligations, and responsibilities of both parties to the insurance contract. The content recorded in the insurance policy serves as 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 stickers; Saves time and is convenient, not restricted by time or location; information is universally accessible online, quick and easy; 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; with electronic unification, insurance companies and traffic police departments can more easily manage the insurance information of various vehicles.
