Is There a Rebate for New Car Insurance?
2 Answers
New car insurance does not have rebates. Categories: Car insurance rebates can be divided into formal rebates and informal rebates. Formal rebates are discount coefficients for previous years without accidents, directly reducing a certain amount of premium from the insurance cost, which is related to the number of accident-free years. Commercial auto insurance can be discounted by up to 50% to 60%, while compulsory traffic insurance can be discounted by up to 30%. Informal rebates are marketing tactics used by some car insurance agents, where part of the commission from selling car insurance is returned to the customer in cash or other forms to facilitate the completion of their business. Precautions: Informal rebates are actually illegal. The Insurance Law stipulates: Insurance companies and their staff shall not promise to give policyholders, insured persons, or beneficiaries any insurance premium rebates or other benefits beyond those stipulated in the insurance contract during insurance business activities.
When I bought my new car, I asked about insurance rebates. The salesperson said that for new car insurance, they don’t directly give cash rebates but offer promotional discounts instead. For example, insurance companies often have first-year premium discounts, especially if you buy through a 4S shop that handles everything—they have high internal commissions and might offer some reductions. Last year when I chose car insurance, I compared three companies and finally picked one with cashback vouchers, saving me about 300 yuan. New car insurance has fewer rebates because the premium base is large, and companies prefer pushing value-added services like free towing or maintenance discounts—these also count as indirect rebates. I think car owners shouldn’t focus too much on rebates but rather on coverage and reputation to avoid claim hassles. For newbies buying insurance, remember to check online quotes yourself—don’t just listen to the salesperson’s pitch.
