What is Compulsory Traffic Accident Liability Insurance for Motor Vehicles?
3 Answers
Compulsory Traffic Accident Liability Insurance for Motor Vehicles is China's first mandatory insurance system implemented by national legislation. Here is relevant information about this insurance: 1. Introduction to Compulsory Traffic Accident Liability Insurance: The full name is 'Compulsory Traffic Accident Liability Insurance for Motor Vehicles'. According to the 'Regulations on Compulsory Traffic Accident Liability Insurance for Motor Vehicles', it is a mandatory liability insurance where the insurance company compensates for personal injuries, deaths, and property losses (excluding passengers in the insured vehicle and the insured person) caused by road traffic accidents involving the insured vehicle, within the liability limits. 2. Consequences of not paying the compulsory insurance: According to regulations, the traffic management department of the public security organ has the authority to detain the vehicle and impose a fine equivalent to the insurance premium that should be paid. This compulsory insurance is mandatory.
I've been driving for many years, and compulsory traffic insurance is a must-have for every car owner, mandated by the government. If you don't purchase it, you may face fines or penalty points. It mainly covers situations where I accidentally hit someone while driving, causing injuries or property damage, and the insurance company will help compensate for the losses, so I don't have to empty my wallet to handle disputes. In addition to compulsory insurance, many people also purchase commercial insurance to cover more risks, such as vehicle repairs or work-related injuries. This insurance is a prerequisite for vehicle annual inspections—if it's not properly handled, the inspection won't pass, and it may even affect driving on the road. I think it truly protects public safety by providing a safety net in case of traffic accidents. Timely renewal is crucial, and I usually handle it online through the insurance company's app, which is worry-free and efficient, avoiding the hassle of forgetting to renew on time.
As a young enthusiast of self-driving tours, compulsory traffic insurance is a must-have for me when driving. Simply put, it's an insurance mandated by the state, covering compensation in case I cause harm to a third party in an accident. This insurance makes accident handling smoother, preventing me from incurring huge expenses for medical bills or property damage of the injured. I often purchase it directly from insurance agents or websites, usually at a reasonable price, and renewal is convenient. An added benefit is that it can be paid together with the vehicle and vessel tax, saving time from running around government departments. When chatting with friends, they also agree that this insurance is quite worthwhile because it reduces the psychological burden of risk, making driving more relaxed. I recommend that new drivers familiarize themselves with the process early on and not skip purchasing it out of laziness, as the consequences can be troublesome.
