What is the Compensation Scope of Compulsory Traffic Insurance for Motor Vehicles?
3 Answers
Motor vehicle compulsory traffic insurance compensation scope is indemnified by the insurance company within the statutory liability limits of compulsory traffic insurance for motor vehicle accidents. Below is additional information: Introduction: The full name of compulsory traffic insurance is "Compulsory Traffic Accident Liability Insurance for Motor Vehicles," which is a mandatory liability insurance where the insurance company compensates for personal injuries, deaths, and property losses of victims caused by road traffic accidents involving the insured vehicle, within the liability limits. Relevant regulations: If a road traffic accident involving the insured motor vehicle causes personal injury, death, or property loss to victims other than the vehicle occupants or the insured, the insurance company shall compensate within the statutory liability limits of compulsory traffic insurance for motor vehicle accidents. If the losses from the road traffic accident are intentionally caused by the victim, the insurance company will not compensate.
The compulsory traffic insurance is a legally mandated insurance that primarily covers three aspects: medical expenses, disability compensation, and death compensation resulting from hitting a person. It covers treatment costs such as medical fees, hospitalization meal expenses, and nursing fees. In case of disability, it compensates for assistive device fees and disability compensation. In the most severe cases, it provides funeral expenses and death compensation as per regulations. However, it's important to note that compulsory insurance basically does not cover vehicle repair costs, with a maximum symbolic compensation of 2,000 yuan for property damage. Moreover, it does not cover the repair costs of your own vehicle, damage to items in the car, or injuries to passengers in your own vehicle. It also does not cover accidents where you hit your own family members. The coverage amounts are standardized nationwide: 180,000 yuan for death or disability and 18,000 yuan for medical expenses. This year, reforms have expanded the compensation scope, allowing for the initial compensation of mental distress consolation payments through compulsory insurance.
Compulsory traffic insurance, simply put, covers the person who gets hit. If driving causes injury or even death to others, the compensation must be paid in full. Medical expenses, surgery fees, and hospitalization costs are all covered. In cases of disability, rehabilitation expenses and disability compensation must be paid; in the most severe cases, funeral expenses and death compensation will be covered. However, no matter how badly your own car is damaged, it won't be compensated, nor will a broken phone inside the car. If a fellow passenger is injured, commercial insurance must be used. The maximum compensation is 200,000 yuan, with 180,000 yuan reserved for injury or death-related expenses and 18,000 yuan for medical bill reimbursement. Also, don't believe the rumor that hitting a luxury car will be fully covered—property damage compensation is capped at 2,000 yuan. When buying insurance, always check the compulsory insurance policy, as the terms are clearly stated.
