The comprehensive reform of auto insurance started. The new insurance policy was launched yesterday. The
total insurance coverage of compulsory traffic insurance increased from RMB 122,000 to RMB 200,000
Yesterday, the "Guiding Opinions on the Implementation of Comprehensive Auto Insurance Reform" issued by the China Banking and Insurance Regulatory Commission was officially implemented. The new auto insurance systems of insurance companies such as Ping An Property & Casualty, PICC Property & Casualty, and Pacific Property & Casualty Insurance were also officially launched, and the first orders were released one after another.
It is worth noting that the new insurance policy for car owners can enjoy the benefits of increased insurance premiums but saves. For car owners who have purchased auto insurance before, the new and old compulsory traffic insurance policies will be implemented after September 19 at the new liability amount, which is the total insurance coverage of the compulsory traffic insurance. Increase from 122,000 yuan to 200,000 yuan.
Ping An Property & Casualty Insurance's first policy
Insurance premium dropped by 400 yuan
At 01:01 on September 19, Mr. Lu, the owner of Ping An Property and Casualty Insurance from Shanghai, received a new insurance policy for his car, with a premium of 1944.25 yuan.
This is the first new policy issued by Ping An Property & Casualty after the comprehensive reform of auto insurance.
Regarding the first order of the comprehensive reform of auto insurance, the sales staff of Ping An Property & Casualty Insurance calculated an account: Mr. Lu’s auto premium in 2019 was 2,352.60 yuan, and the insurance types include motor vehicle loss insurance, third party liability insurance, and no deductible Insurance (motor vehicle loss insurance), when insured this year, additional special clauses for road rescue of motor vehicles and value-added services for inspections were added.
The degree of customer risk protection has been greatly improved, but the insurance premium has decreased by RMB 408.35 compared with the previous year, a decrease of 17.36%.
Previously, the relevant person in charge of the China Banking and Insurance Regulatory Commission stated in an interview with the media that after the implementation of the comprehensive reform of auto insurance, the “three basics” can be achieved for consumers in the short term, that is, “the price basically only drops but does not rise, and the guarantee basically only increases but not decreases , The service is basically only good but not bad”.
Specifically, first, the compulsory traffic insurance liability limit has been greatly increased; second, commercial auto insurance liability is more comprehensive; third, commercial auto insurance products are more abundant; fourth, commercial auto insurance prices are more scientific and reasonable; fifth, the level of marketization of auto insurance products is higher; It is the further optimization of the no-indemnity preferential treatment coefficient.
These will greatly enhance consumers' sense of acquisition.
After the adjustment, consumers will get benefits
The coverage of compulsory traffic insurance increased to 200,000 yuan
What benefits do consumers get?
The Beijing Youth Daily reporter learned that first, the auto insurance coverage has been further increased: the adjusted total insurance coverage of compulsory traffic insurance has been increased from 122,000 yuan to 200,000 yuan, of which the death and disability compensation limit has been increased from 110,000 yuan to 180,000 yuan. The compensation limit for expenses was increased from 10,000 yuan to 18,000 yuan, and the compensation limit for property losses remained unchanged at 2,000 yuan.
The non-liability insurance coverage is adjusted in the same proportion. The death and disability compensation limit is increased from 11,000 yuan to 18,000 yuan, the medical expenses compensation limit is increased from 1,000 yuan to 1,800 yuan, and the property damage compensation limit remains unchanged at 100 yuan.
Second, car owners can enjoy lower discounts: The "Interim Measures for the Floating Rate of Compulsory Motor Vehicle Traffic Accident Liability Insurance" classifies SGCC's compulsory insurance discounts into five categories.
Among them, Beijing, Tianjin, Hebei, and Ningxia can enjoy a minimum of 35% off.
Under the condition of basically not increasing premiums, consumers can obtain more protection when purchasing car damage insurance. In addition, on the basis of the original protection, newly added theft, broken glass, spontaneous combustion, engine wading, no deductible, designated Seven insurance liabilities including repair shops and the inability to find a third party, that is, the above-mentioned insurance liabilities originally required additional insurance. After the reform, they are all covered by the scope of auto damage insurance liabilities, and consumers do not need to pay additional premiums.
Third, the comprehensive auto insurance reform policy this time deleted some exemptions, such as earthquakes and secondary disasters.
So far, my country's auto insurance products have basically covered major catastrophe risks such as earthquakes, typhoons, and floods.
At the same time, the accident liability deductible rate was deleted, and the motor vehicle accident liability deductible rate in the existing clauses was cancelled, making consumer protection more adequate and conducive to reducing claims disputes.
The limit of commercial three liability insurance has been increased from 50,000 to 5 million yuan to 100,000 to 10 million yuan, and consumers can purchase higher three liability insurance to increase protection.
Auto insurance has long been the largest business in the property insurance field, with fierce competition and a high degree of dependence on intermediary channels.
According to data from the China Banking and Insurance Regulatory Commission, my country's auto insurance insured 260 million motor vehicles in 2019, with an insurance premium income of 818.9 billion yuan, accounting for 63% of property insurance premiums.
In 2015 and 2017, two rate reforms were carried out in the field of commercial auto insurance.
Every time before the formal implementation of the reform, some insurance company salespersons or intermediary sales staff took advantage of consumers’ fear of rising premiums, misinterpreted policies, and often misled sales to achieve the purpose of signing orders.
The auto insurance reform is positioned as a comprehensive reform, with the goal of "cutting prices, increasing insurance, and improving quality", covering compulsory traffic insurance and commercial auto insurance, terms and rates, products and services, etc., directly pointing to the chaos in the auto insurance market.
New and old compulsory insurance policies from yesterday
All executed according to the new liability amount
The Beijing Youth Daily reporter learned from Ping An Property & Casualty Beijing Branch that for the implementation period of the comprehensive auto insurance reform period, the China Banking and Insurance Regulatory Commission's "Announcement on Adjusting the Compulsory Traffic Insurance Liability Limit and Rate Floating Coefficient" stipulated the switching time and transitional arrangements, and clarified the September 2020 In the event of a road traffic accident after 0:00 on the 19th, the new and old compulsory traffic insurance policies shall be implemented in accordance with the new liability limits.
The reform combines the comprehensive compensation rate level of traffic compulsory insurance in various regions, and introduces a regional floating factor in the adjustment coefficient of road traffic accident rate; at the same time, the non-compensation preferential treatment coefficient of commercial auto insurance is further optimized.
After the implementation of the reform, the commercial auto insurance no-compensation preferential treatment coefficient will take into account the scope of the compensation record to be expanded from the previous year to the previous three years. For consumers who accidentally pay, the rate of increase will be reduced.
For car owners who have not paid for compensation and have good driving habits, car insurance will receive more discounts the following year.
Therefore, it is recommended that car owners drive safely without interrupting commercial insurance.
If the insurance is interrupted, the continuous insurance period will be recalculated. Not only will the protection be interrupted, but it will also not be able to enjoy low discounts.
Text/Reporter Lin Lishuang Coordinator/Yu Meiying
focus
China Banking and Insurance Regulatory Commission: It is expected that the actual insurance premiums of consumers will significantly decrease
Compulsory traffic insurance must be renewed in time
According to industry insiders, compulsory traffic insurance is a national statutory compulsory insurance. Motor vehicles must be insured for compulsory traffic insurance on the road.
Although the preferential strength of compulsory traffic insurance has become stronger after the reform, if the compulsory traffic insurance of car owners expires before the reform is implemented, or the new car bought is to be driven on the road before the reform, the compulsory traffic insurance must be insured and renewed in time.
For car owners who had insured compulsory traffic insurance before the reform, the risk is still guaranteed.
Car damage insurance coverage expanded after reform
At present, there are many types of commercial auto insurance on the market, including main insurance and supplementary insurance.
The main insurance can be insured separately, and the additional insurance is voluntarily selected by consumers according to their actual conditions.
After the comprehensive reform of auto insurance, the main insurance clauses of auto damage insurance have added the insurance liability for the theft of the entire motor vehicle, broken glass alone, spontaneous combustion, and water wading on the basis of the existing insurance liability.
To put it simply, the coverage of car damage insurance has been expanded, and the aforementioned insurance liabilities have been expanded. These insurance liabilities originally belonged to supplementary insurance, but they were all included in the main insurance after the reform.
The reform also deleted the exemption clauses that are likely to cause disputes in claims in practice, such as earthquakes and secondary disasters.
So far, my country's auto insurance products have basically covered major catastrophe risks such as earthquakes, typhoons, and floods.
Sun Jianping, chairman and CEO of Ping An Property & Casualty, believes that the reform measures fully take into account the risks and pain points that consumers face when using cars, reduce liability exemption items, expand insurance responsibilities, and strive to provide comprehensive coverage to better satisfy consumers. Level and diversified risk protection requirements.
Seriously investigate and deal with violations of laws and regulations
The head of the relevant departments of the China Banking and Insurance Regulatory Commission said that the reform will lower the upper limit of the additional expense rate for commercial auto insurance products from 35% to 25%, and the expected loss ratio will increase from 65% to 75%. After the reform, the benchmark premium price of commercial auto insurance will drop significantly. , It is expected that consumers’ actual signing premiums will also drop significantly.
The official said that the China Banking and Insurance Regulatory Commission will strengthen the monitoring of the auto insurance market, severely investigate and deal with violations of laws and regulations, and ensure a stable and orderly market before and after the reform.