Surrender must obtain the consent of the loan bank or guarantee company, that is, the insurance company will require the loan bank to surrender its license and seal.

Commercial insurance includes: vehicle loss insurance, third party liability insurance, theft insurance, vehicle personnel liability insurance, car body scratch loss insurance and spontaneous combustion loss insurance, excluding deductible insurance.

Basic vehicle insurance includes compulsory insurance, third party liability insurance (three liability insurance) and vehicle loss insurance (car damage insurance).

Additional risks for vehicles: vehicle theft and emergency rescue, vehicle liability insurance, no-fault liability insurance, vehicle cargo drop liability insurance, glass breakage insurance, vehicle stop loss insurance, spontaneous combustion loss insurance and new equipment loss insurance, excluding special risk of deductible.

New cars need adequate insurance;

Compulsory Traffic Accident Liability Insurance for Motor Vehicles

Compulsory insurance is compulsory in China, and all vehicles must be purchased. In the event of a traffic accident, the insurance company can only accompany the injured party, which means that the conditions for compensation are limited. At the same time, if you don't buy compulsory insurance, then the car will lose its qualification for annual inspection. Therefore, it is impossible not to buy a compulsory insurance.

Third-party commercial liability insurance

Most car owners will choose compulsory insurance and three insurances. Because the amount of claims for compulsory insurance is limited, buying three insurances can make up for the part that compulsory insurance cannot claim. Even if there is an accident, you can get a reasonable amount of compensation.

Excluding deductible insurance

Compared with the first two, auto insurance is an independent basic insurance, and excluding deductible insurance is an additional insurance for automobiles.

Its function is to lose 1 1,000 yuan in case of an accident. Under normal circumstances, the insurance company will pay 80% for the owner, which is the loss of 800 yuan. If you buy deductible insurance, you will transfer the remaining 20% to the insurance company, that is, you can get 1 0,000% compensation.

Automobile damage insurance

Car damage insurance is undoubtedly the most extensive insurance coverage. No matter whether the car is damaged by collision, scraping or soaking in water, you can get compensation from the insurance company, and the amount of compensation ultimately depends on the cause of the incident, the degree of damage and many other conditions.

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Compulsory Traffic Accident Liability Insurance for Motor Vehicles

Compulsory traffic accident liability insurance is the first compulsory insurance system implemented by national laws in China.

The Regulations on Compulsory Motor Vehicle Traffic Accident Liability Insurance [hereinafter referred to as the Regulations] stipulates that compulsory traffic insurance is compulsory liability insurance in which insurance companies compensate victims [excluding people on board and the insured] for personal injuries and property losses caused by road traffic accidents of insured motor vehicles within the limits of their liability.

Third party liability insurance

Third-party liability insurance refers to the economic responsibility that should be borne by the insured according to law, and the insurance company is responsible for compensation if the insured or its licensed driver has an accident in the process of using the insured vehicle, resulting in personal injury or direct property loss to a third party. At the same time, with the written consent of the insurance company, if the insured suffers arbitration or litigation costs, the insurance company shall pay compensation exceeding the liability limit, but the maximum amount shall not exceed 30% of the liability limit.

Vehicle loss insurance

Vehicle loss insurance means that the insured vehicle suffers from natural disasters (excluding earthquakes) or accidents within the scope of insurance liability, resulting in the loss of the insured vehicle itself, and the insurer makes compensation according to the provisions of the insurance contract. This is the opposite of a third party. It is self-care. If you cherish your car, you should buy it.