After the auto insurance reform, 42% of car owners do not buy auto damage insurance. How to calculate this account?
In the first quarter after the policy was implemented, insurance data for more than 20 million household cars nationwide were released. The car damage insurance insurance rate was only 58%, and the insurance abandonment rate was as high as 42%. Among them, more than 60% of vehicles that are more than five years old have abandoned their warranty, and those that are more than ten years old or have a residual value of less than 30,000 yuan have an abandonment rate of nearly 80%. For owners of low-priced cars with low average annual mileage, this has become a rational choice rather than following the trend or taking risks.
The auto insurance reform has brought about fundamental changes in the logic of insurance. The additional insurance is integrated into the main insurance, and the so-called "buy one, buy seven" protection structure makes the protection more comprehensive but the premium increases simultaneously. The pricing system has also shifted from "depending on the car price" to "depending on the person and behavior." Driving habits and violation records will directly affect premiums. The insurance amount of compulsory traffic insurance is increased but the price will not increase due to
After the auto insurance reform, 42% of car owners do not buy auto damage insurance. How to calculate this account?
In the first quarter after the policy was implemented, insurance data for more than 20 million household cars nationwide were released. The car damage insurance insurance rate was only 58%, and the insurance abandonment rate was as high as 42%. Among them, more than 60% of vehicles that are more than five years old have abandoned their warranty, and those that are more than ten years old or have a residual value of less than 30,000 yuan have an abandonment rate of nearly 80%. For owners of low-priced cars with low average annual mileage, this has become a rational choice rather than following the trend or taking risks.
The auto insurance reform has brought about fundamental changes in the logic of insurance. The additional insurance is integrated into the main insurance, and the so-called "buy one, buy seven" protection structure makes the protection more comprehensive but the premium increases simultaneously. The pricing system has also shifted from "depending on the car price" to "depending on the person and behavior." Driving habits and violation records will directly affect premiums. The insurance amount of compulsory traffic insurance is increased but the price will not increase due to no-fault accidents, giving good drivers greater room for discounts.
For old car owners, the key to choice lies in settling accounts. The lower the residual value of the vehicle, the higher the proportion of premiums. The accumulated premiums in three years may even exceed the depreciation of the vehicle. In most cases, the cost of repairing a small-scale scratch is only a few hundred yuan, and insurance claims will affect the discount for the following year. Major accidents are supported by three insurances. If the other party is fully responsible, the other party's insurance can make a claim. In low-probability risks such as robbery, spontaneous combustion, and water wading, the cost-effectiveness between premiums and compensation is getting lower and lower.
The insurance options for different models should also be different. For models that are more than ten years old and have a residual value of less than 30,000 yuan, it is enough to purchase compulsory traffic insurance and high-cost three-party insurance. For middle-aged cars that are five to ten years old, the choice can be flexibly based on the frequency of driving. For vehicles that are three to five years old and new energy models, it is recommended to retain vehicle damage insurance, especially the battery maintenance cost of the latter is extremely high. Car damage insurance for new cars and high-end models is even more essential. If you don’t buy it, you may lose tens of thousands of dollars in an accident.
In actual operation, we also need to pay attention to several principles of saving money: no longer blindly purchase the so-called "full insurance", and rationally allocate the main insurance and three-party insurance; it is recommended to increase the insurance amount of the three-party insurance to more than 3 million, and the claim limit is more secure; if there is no fault accident, you can take insurance with peace of mind, and no longer worry about the impact of discounts; buy insurance through formal channels to avoid false cashbacks; compare prices on multiple platforms before renewing insurance, and the difference in independent coefficients can save hundreds of yuan.
Auto insurance reform drives the market back to rationality. Giving up car damage insurance is not irresponsible, but more accurate risk management. The core is to know what is worth protecting and what can be saved. Compulsory traffic insurance is the bottom line, three insurances are protection, and car damage insurance depends on the condition of the car. For many car owners, clarifying this logic is more important than saving hundreds of dollars.
When you renew your insurance this year, will you consider not buying car damage insurance? Which combination is suitable for your vehicle condition under the new regulations? Welcome to share your choices and experiences, so that more car owners can save money.
