Beijing's auto insurance rates extended

Beijing Insurance Industry Association announced the "2011 Beijing Motor Vehicle Insurance Premium Flotation Lifting Program" recently announced on January 1 this year. According to the “Programme”, vehicles with no claim records in 2009 and 1 or 2 insurance claims in 2010 will not be able to increase their rates during the renewal this year.

Beijing has established an auto insurance information platform since 2009. According to the original plan, when the owner of the motor vehicle insurance renewal in 2011, as long as the previous year had 1-2 times the claims records, the rates will increase to 1 times and 1.1 times. The new plan stipulates that all motor vehicles that have been insured for commercial vehicle insurance in Beijing for two consecutive years in 2009 and 2010 will have no record of claims in 2009, and will have 1 or 2 claims in 2010, and the amount of compensation will be less than the premium paid in the current year. As a result of the guarantee, "No Claims and Benefits Reimbursement Records for the Previous Year" still implements the coefficient for the year 2010, which means "No increase or decrease." In other cases, it will still be implemented according to the “plan”.

For example, a car commercial vehicle insurance in 2009 no claims record; 2010 when no compensation compensation ratio coefficient of 0.85, after multiplying with other coefficients, the total floating coefficient was 0.6885, 3,600 yuan premium payment; in 2010, once the risk, compensation 2100 yuan . According to the original plan, the car should float 0.9 in 2011, and according to the new plan, the owner still enjoys a discount of 1.5%, which is still 0.6885 after accumulating with other factors.

The person in charge of the Property Insurance Department of the Beijing Insurance Industry Association said that since the original plan only took into account the number of claims and amounts incurred in the previous year, there will be no claim records in previous years, but claims occurred in the last year. The good record is that of "bathing." This new plan is adjusted for this situation. Because the current auto insurance platform records began in 2009, the new plan only considers the claims records of 2009 and 2010. In the future, it will further establish the problem of commercial vehicle insurance floating grade lifting mechanism after 2012.

It is understood that as of the end of November last year, Beijing renewal of 1.97 million vehicles, the regulations will have 10% of owners, that is, about 200,000 motor vehicles to benefit from this new deal.