Recently, while purchasing car insurance, I noticed that some quotes list 'insurance' as 'coverage/service', with premiums significantly lower than standard car insurance. Can I purchase such policies?
We seriously remind you: If you encounter situations where "insurance" is described as "coverage" or "service" during car insurance purchases, and the premium is significantly lower than regular car insurance, you need to be highly vigilant.
Recently, some users took "commercial electronic policies" stating "Motor Vehicle Damage Coverage" and "Motor Vehicle Third-Party Liability Coverage" to insurance companies to file claims for car insurance, but were rejected. This is because the product is a service guarantee product provided by an automotive service company, not a formal commercial insurance policy underwritten by an insurance company.
These fake car insurance products mainly manifest as: high-fake car insurance and low-price inducement. In reality, they are risk-sharing services provided by non-insurance institutions. The signed contracts do not belong to insurance contracts, are not protected or constrained by insurance law, have harsh terms, cumbersome claim processes, and a high risk of claim denial. These institutions are not approved by the State Council's insurance regulatory authority, lack the qualification to conduct insurance business, have no capital reserve requirements, and their solvency is not effectively regulated. In the event of large-scale payouts, these institutions may abscond at any time.
Please objectively recognize the risks and do not lose the big picture for small gains. If you have insurance needs, please definitely purchase motor vehicle compulsory traffic insurance and commercial insurance from insurance institutions with legal qualifications to operate car insurance business.