Will the Compulsory Traffic Insurance Cover My Flooded Car?
2 Answers
The compulsory traffic insurance does not cover water damage to your car, as it is designed to compensate third-party vehicles and individuals. To claim for vehicle damage, you must have purchased vehicle damage insurance. The compulsory traffic insurance is mandatory by the state and is required for legal road use. Without it, according to Article 98 of the Road Traffic Safety Law, traffic management authorities can impound the vehicle, require the owner to provide proper documentation or complete necessary procedures, and may issue a warning or impose a fine ranging from 20 to 200 yuan. Compulsory Traffic Insurance for Automobiles: The full name of compulsory traffic insurance is "Compulsory Liability Insurance for Motor Vehicle Traffic Accidents." It is a mandatory liability insurance where the insurer compensates victims (excluding vehicle occupants and the insured) for personal injuries, deaths, and property losses within the liability limits in the event of a road traffic accident. Premiums are based on nationally unified rates. However, the price of compulsory traffic insurance varies by vehicle type, primarily influenced by the number of seats. Compared to the over 20 exemption clauses in commercial third-party insurance, compulsory traffic insurance has a broader coverage, excluding losses caused intentionally by the victim, the insured's own property losses, arbitration and litigation costs, and certain indirect losses from accidents. Moreover, compulsory traffic insurance provides compensation within the liability limits regardless of fault in the accident. Introduction to Electronic Insurance Policies An electronic insurance policy is a digital policy issued by an insurer using digital signature software and corporate digital certificates compliant with the PKI system, bearing the insurer's electronic signature. An insurance policy, or policy for short, is the formal written proof of the insurance contract between the insurer and the insured. It fully records the rights, obligations, and responsibilities of both parties and serves as the basis for fulfilling the contract. The policy is evidence of the insurance contract's formation. Advantages of Electronic Insurance Policies: Saves paper resources, eliminating the need to print insurance proof labels; Time-saving and convenient, accessible anytime and anywhere, with information readily available online; Allows for reissuance and resending, eliminating worries about loss. Paper versions can also be printed or mailed if needed; Easier management, as electronic unification helps insurers and traffic police manage vehicle insurance information more efficiently.
If my car only has compulsory traffic insurance and gets flooded, the insurance company definitely won't pay. Compulsory insurance, to put it bluntly, only covers compensation when you hit someone else and doesn't cover damage to your own car. For example, during the last heavy rain, my old buddy parked his car in a low-lying area, and the whole car was submerged. When he went to the insurance company, they directly said that without the commercial insurance's vehicle damage coverage, he wouldn't get a single cent. Since then, I've learned my lesson and check my insurance policy before every rainy season. Now, when chatting with friends, I always advise them not to just buy compulsory insurance—saving a little on premiums could end up costing a lot. Comprehensive insurance is the way to go, especially in areas prone to heavy rain. You need to be extra careful about where you park and how you maintain waterproofing to prevent problems before they happen.
