What Does Compulsory Traffic Insurance Cover for Vehicles?

[VanKinsley]

The compulsory insurance for vehicles covers personal injury and property damage to victims (excluding passengers in the insured vehicle and the insured person) (excluding the insured vehicle itself). Here is an introduction to compulsory traffic insurance: 1. Overview: The full name of compulsory traffic insurance is "Compulsory Motor Vehicle Traffic Accident Liability Insurance," which is the first compulsory insurance system implemented by national law in China. The premiums are standardized nationwide, with rates set by the state. However, the cost of compulsory insurance varies depending on the vehicle model, with the primary influencing factor being the "number of seats in the vehicle." 2. Article 3 of the "Regulations on Compulsory Traffic Accident Liability Insurance for Motor Vehicles": Compulsory traffic accident liability insurance for motor vehicles, as referred to in these regulations, is a mandatory liability insurance under which the insurance company compensates for personal injury, death, and property damage caused to victims (other than the passengers in the insured vehicle and the insured person) within the liability limits in the event of a road traffic accident involving the insured motor vehicle.