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What does first insurance after second-hand car transfer mean?

1Answers
MacAugust
08/28/2025, 12:49:22 AM

First insurance after second-hand car transfer means that the compulsory insurance purchased after the transfer can only be paid as the first purchase. There is no discount for the first insurance. The specific details about purchasing insurance after second-hand car transfer are as follows: 1. Rate floating mechanism: There is no discount for the first purchase of compulsory insurance. If there are no accidents in the first year, a 10% discount can be applied in the second year. If there are no accidents in the second year, a 20% discount can be applied in the third year. If there are no accidents in the third year, a 30% discount can be applied in the fourth year. The maximum discount is 30%. 2. Calculation formula for compulsory insurance: Base premium * (1 + floating ratio related to road traffic accidents) * (1 + floating ratio related to traffic safety violations).

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