Is the compulsory traffic insurance the same for 5-seater and 6-seater vehicles?
1 Answers
5-seater and 6-seater vehicles have different compulsory traffic insurance rates. Additional information: 1. Vehicle insurance premiums are calculated separately for each coverage type based on the vehicle category, usage nature, and required insurance types selected by the policyholder. 2. The composition of vehicle damage insurance premium is: Vehicle damage insurance premium = Base premium + Insured amount × Rate (%). 3. Third-party liability insurance charges fixed premiums according to different compensation limit tiers selected based on vehicle category and usage nature. 4. The compulsory traffic insurance has 42 basic rate categories, with different premium rates for eight major vehicle types (family passenger cars, non-commercial buses, commercial buses, non-commercial trucks, commercial trucks, special vehicles, motorcycles, and tractors) and their 42 subcategories. However, the same vehicle model maintains a unified price nationwide.