"Three electricity" can guarantee spontaneous combustion and compensation New energy vehicle insurance boots landed

The new energy exclusive car insurance that has been brewing for a long time has finally landed. On December 14, the China Insurance Industry Association (hereinafter referred to as the "Insurance Industry Association") issued the "Exclusive Clauses for Commercial Insurance of New Energy Vehicles (Trial)" (hereinafter referred to as the "Clauses"), and the insurance liability has been "greatly expanded" in the risk points of matching new energy vehicles, such as new energy vehicle batteries, spontaneous combustion, and charging piles. However, the controversial issue of battery aging is not covered. As for whether the premium rises or falls, it still depends on the specific situation.

According to the "Clauses", the main insurance of new energy vehicles includes three independent types of insurance, including new energy vehicle loss insurance, new energy vehicle third-party liability insurance, and new energy vehicle vehicle personnel liability insurance.

For the definition of new energy vehicles for the protection of the object, the "Provisions" pointed out that it refers to the use of new power systems, completely or mainly rely on new energy-driven cars, wheeled vehicles for passenger use on the road or for transporting goods and special operations. For example, it includes electric hybrid vehicles (including range extenders), pure electric vehicles and fuel cell vehicles, but does not include motorcycles, tractors, and special vehicles.

With the popularity of new energy vehicles, spontaneous combustion incidents occur from time to time, and it has also become the focus of worry for many car owners. In September 2020, a set of data released by the Shanghai Municipal Market Supervision and Administration Bureau showed that in August alone, there were 15 new energy vehicle smoke and fire accidents in China. Spontaneous combustion occurred during vehicle standing, charging, and driving.

Specifically, compared with traditional car insurance, the insurance liability of the Clauses has been further expanded. During the insurance period, the insured or the driver of the insured new energy vehicle in the process of using the insured new energy vehicle, due to natural disasters, accidents (including fire and combustion) caused direct losses to the following equipment of the insured new energy vehicle, and do not fall within the scope of exemption from the insurer's liability.

"The explicit inclusion of spontaneous combustion and batteries is a clear definition and consideration of the risks of the new standard, avoiding claim disputes between insurance companies and users." Zhang Lei, CEO of Cheche Technology, said.

Zhang Junyan, a researcher at the China Insurance Research Institute of Chinese Min University, believes that although the existing data do not show that the probability of spontaneous combustion of new energy vehicles is necessarily higher than that of fuel vehicles, the speed of spontaneous combustion of new energy models is fast and violent, and it is indeed necessary to incorporate spontaneous combustion into the scope of protection by following the "Clauses" after the reform of automobile insurance.

The "three electricity" is included in the scope of guarantee

In addition to the clear definition of the claim for spontaneous combustion, the Clauses also include the most core technologies and components of new energy vehicles, "batteries and energy storage systems, motors and drive systems, and other control systems", and also protect the body, all other equipment leaving the factory, as well as the process of vehicle driving, parking, charging and operation.

"The Clauses resolve the controversy over whether the 'Three Electrics' is compensated for often encountered by new energy vehicles in traditional car insurance, and the previous controversy was relatively large, and the new Clauses clearly claim compensation for the 'Three Electrics'." IQ Insurance CEO Pang Bo said.

Battery and energy storage system, motor and drive system, other control systems commonly known as "three electricity", is the core technology of new energy vehicles, new energy vehicle batteries for the value of the vehicle, but the traditional car insurance in the face of the face of weakness.

Zhang Lei said that the biggest difference between new energy vehicles and traditional fuel vehicles is the "three electricity", "three electricity" into the insurance liability is the biggest embodiment of the "exclusive" of new energy vehicle insurance, indicating that the supervision fully takes into account the product attributes and risk characteristics of new energy vehicles, starting from the interests of users, so that new energy vehicles have their own insurance protection. The traditional fuel vehicle insurance clauses previously used did not clearly explain the "three electricity", and this time the "three electricity" was clarified, so that the owner was more assured and eliminated the worries of buying a car.

In Zhang Junyan's view, the "three electric" system accounts for a relatively high proportion of the vehicle value of new energy vehicles, and is related to the probability of insurance of new energy vehicles, and inclusion in the insurance protection scope helps the insured to transfer risks.

Charging piles can choose from a variety of additional insurance

In view of the indispensable "supporting facilities" of new energy vehicles such as charging piles, in order to better meet the insurance needs of new energy vehicle owners, the Clauses design 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.

Overall, in addition to the above-mentioned "intimate" additional insurance, the additional insurance also includes additional wheel loss insurance, additional newly added equipment loss insurance, additional body scratch loss insurance and other 9 types. However, it should be noted that new energy vehicles that are insured with new energy vehicle loss insurance can be insured with additional insurance.

Zhang Junyan said that scenario-based is the current insurance product development needs to consider the elements, the design of products to be able to meet the needs of the scene, improve the scene service capabilities or maintain the safety and stability of the scene, these additional insurance is a good combination of the use of new energy vehicles.

Taking the additional self-use charging pile loss insurance as an example, the insurance liability is that during the insurance period, if the insurance policy indicates the address, the insured meets the technical conditions of the charging equipment and the installation standard of the self-use charging pile, due to natural disasters, accidents, theft or damage caused by others, the insurer calculates the compensation according to the actual loss within the insurance amount of the additional insurance specified in the insurance policy.

This is the first time that auto insurance has underwritten external fixed auxiliary equipment, and it is an innovation and exploration in the field of auto insurance, focusing on solving the risks arising from auxiliary facilities in the application of new technologies.

Zhang Lei said that the additional insurance has customized four exclusive additional insurance, including the power grid and charging piles, and under the background of fierce competition in the current auto insurance industry and meager operating profits, new energy exclusive auto insurance has undoubtedly opened up a new incremental market.

Battery attenuation, illegal modification, etc. are not insured

In view of the current pain points of new energy vehicles, the "Clauses" can be described as clearly "fully insured", but it should be noted that some losses and expenses are not covered by insurance.

Specifically, the "Clauses" show that the insurer is not responsible for compensation for the attenuation, corrosion, corrosion, failure, and quality defects of the new energy vehicle battery. Compared with the Model Clauses for Commercial Insurance of Motor Vehicles (2020 Edition), the exclusion of liabilities increases battery attenuation and losses of insured new energy vehicles due to external grid failures during charging.

In this regard, in Zhang Junyan's view, it should be noted that not all risks are insurable risks. According to the basic principle of insurance, one of the elements of insurable risk is that the occurrence of risk should be accidental, and the current battery attenuation is an inevitable situation and does not meet the requirements of insurable risk.

Pang Bo said that the battery attenuation of new energy vehicles is similar to natural wear and tear, not accidental, so it belongs to the scope of exemption.

"Battery attenuation is a quality problem, not a risk problem, and it is reasonable not to be within the scope of protection." Zhang Lei also said.

In addition, like traditional car insurance, the insurer is not responsible for compensation for losses and expenses of insured new energy vehicles caused by depreciation caused by changes in market prices, impairment losses caused by reduced value after repair, etc. The insured new energy vehicle is transferred, modified, installed or changed in the nature of use, etc., resulting in a significant increase in the degree of danger of the insured new energy vehicle, and the insurer is not notified in time, and the insured accident occurs due to a significant increase in the degree of danger, which is also excluded.

Is the owner's premium rising or falling?

Since the "Provisions" expand the scope of protection for new energy vehicles, will the cost increase or decrease?

Previously, the Insurance Association issued the "Explanation on the Adjustment of the Pure Risk Premium Table of the Benchmark Pure Risk Premium Table for Exclusive Products of New Energy Vehicle Commercial Insurance" (hereinafter referred to as the "Explanation") to the property insurance company, and in terms of rates, the "Explanation" shows that compared with the current benchmark premium of traditional car insurance, the benchmark premium of the three insurance and the vehicle damage insurance of new energy vehicles has decreased by 0.8% as a whole. The benchmark premiums of the three insurances decreased by 0.1% compared with the current ones, and the benchmark premiums of the motor damage insurance fell by 1.2% compared with the current ones.

In Pang Bo's view, the pure risk rate has been adjusted, and the models below 250,000 yuan have only dropped and not risen, and the models above 250,000 yuan have risen partially, but the overall situation does not exceed 3%. Considering the difference between insured car damage insurance and the three insurances, the overall proportion is about 50% price reduction, 30% flat, and 20% increase.

Zhang Junyan said that practice in recent years has shown that the compensation expenditure of new energy vehicles is significantly higher than that of traditional fuel vehicles, and when the front-line fuel vehicle clause is used, the rate of new energy vehicles is usually higher than that of fuel vehicles. Judging from the "Explanation", although the benchmark premium has declined, it remains to be seen whether the rate will fall after the use of exclusive terms, taking into account the current high insurance rate and maintenance costs of new energy vehicles.

In recent years, the new energy automobile industry has made rapid progress. According to data from the China Association of Automobile Manufacturers, as of 2020, China's new energy vehicle production, sales and ownership have ranked first in the world for six consecutive years, and by the third quarter of 2021, The number of new energy vehicles in China has reached 6.78 million.

At the same time, in addition to the traditional traffic accident risks, major accidents caused by power battery fires and deflagrations constitute new risk factors, and for these risks, product innovation is needed to upgrade insurance protection and insurance services. Zhang Junyan said that the landing of the "Clauses" responds to the needs of consumers, and also responds to the content of the China Banking and Insurance Regulatory Commission's support for the industry to formulate new energy vehicle insurance in the "Guiding Opinions on the Implementation of comprehensive reform of automobile insurance" in September 2020.

Pang Bo said that the "Clauses" solve the worries of purchasing new energy vehicles, which means that the advent of the era of new energy vehicles is conducive to the transformation and upgrading of the entire automobile industry to new energy vehicles. Beijing Business Daily reporter Chen Tingting Hu Yongxin