Today, the China Insurance Industry Association announced the completion of the development of the "China Insurance Industry Association New Energy Vehicle Commercial Insurance Exclusive Clauses (Trial)", which was issued to insurance companies today, and all new energy vehicles will only be insured with new energy vehicle model clauses.
It is reported that according to the new energy vehicle commercial insurance model clause rate switching time, all new insurance and renewed new energy vehicles, but excluding motorcycles, tractors, special vehicles, unified application of the "New Energy Vehicle Model Clauses (Trial)" underwriting, no longer applicable to the "China Insurance Industry Association Motor Vehicle Commercial Insurance Model Clauses (2020 Edition)". Non-new energy vehicles cannot be insured by the Model Clauses for New Energy Vehicles (Trial).
New energy vehicles spontaneous combustion, car insurance can be claimed
According to the Exclusive Clauses of Commercial Insurance for New Energy Vehicles (Trial Implementation), the main insurance of new energy vehicles includes three independent types of insurance: new energy vehicle loss insurance, new energy vehicle third-party liability insurance, and new energy vehicle vehicle personnel liability insurance. For the insured, you can choose to insure all types of insurance, or you can choose to insure some of them. The exclusive clause of new energy vehicles also makes it clear that the process of driving, parking, charging and operating of new energy vehicles is within the protection of the three main insurances of new energy vehicles.
The risk of spontaneous combustion of new energy vehicles that people care about is also included in the insurance. The exclusive clause points out that during the insurance period, the insured or the insured new energy vehicle driver (hereinafter referred to as the "driver") in the process of using the insured new energy vehicle, due to natural disasters, accidents (including fire and combustion) caused by the insured new energy vehicle body, battery and energy storage system and motor and drive system, as well as other control systems, and all other equipment at the factory, and does not fall within the scope of exemption from the insurer's liability, the insurer is responsible for compensation in accordance with the provisions of this insurance contract.
However, the exclusive clause also states that the insurance company is not responsible for compensation in the case of "natural wear and tear, battery attenuation, decay, corrosion, failure, and quality defects of its own".
Exclusive car insurance also identified 13 additional insurance, of which additional external grid fault loss insurance, additional self-use charging pile loss insurance, additional self-use charging pile liability insurance and additional new energy vehicle value-added service special clauses are unique to new energy vehicles.
Depreciation rates have improved slightly, and premium adjustments are difficult to estimate
Under the new insurance terms, it is difficult to estimate whether the premium of new energy vehicles will decline.
Relevant data in 2019 show that the average premium of new energy vehicles is 21% higher than that of traditional fuel vehicles. Because insurance companies adopt the method of "insuring at the price before subsidies and paying according to the price after subsidies" for new energy vehicles, the premiums are higher. The new provisions stipulate that the insurance amount is determined according to the actual value of the new energy vehicle insured at the time of application. There is no clear provision on whether subsidies can be deducted from premiums.
The "Model Clause" re-regulates the depreciation rate of new energy vehicles. The depreciation of new energy vehicles is calculated on a monthly basis, and the part less than one month is not depreciated. The depreciation amount shall not exceed 80% of the purchase price of the new vehicle insured at the time of application.
For example, the depreciation of non-operating pure electric new energy vehicles for household use and non-operating passenger cars with less than 9 seats is divided into four price ranges according to the price of the car, which are 0-100,000 yuan, 100,000 yuan to 200,000 yuan, 200,000 yuan to 300,000 yuan, and more than 300,000 yuan, and the corresponding depreciation coefficients are 0.82%, 0.77%, 0.72% and 0.68% per month, respectively. The depreciation coefficient of new energy vehicles with less than 9 seats for household use and non-operating plug-in hybrid and fuel cell new energy vehicles is not differentiated according to the vehicle price, and is unified at 0.63% per month, which is higher than the 0.6% of the current provisions.
Industry analysts pointed out that although the purchase price and depreciation of new cars are important references for determining the actual value and then determining the amount of insurance, the depreciation rate rises, and the net value declines, which means that the amount of insurance falls, as for whether the final premium rises or falls, it depends on the rate situation.
Taking pure electric vehicles within 100,000 to 200,000 yuan as an example, under the depreciation rate of the new terms of new energy vehicles with a age of 5 years, the net value calculated is only 84% of the previous terms. In other words, under the exclusive clause, the insurance amount of new energy vehicles will be reduced by 16%.