According to bank regulations, a special agreement must be added when the loan is used to buy a car or insurance, that is, the first beneficiary is the loan bank. Once an insurance claim occurs in the future, if the repayment is made on time without delay, the ID card, driver's license, traffic accident responsibility confirmation and maintenance invoice or list will be provided to the bank after the accident, and the bank will go out to confirm the claim payment to the owner, and then the owner will pay the relevant maintenance expenses.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.