November 19, 2007
Car Insurance Bill in Beijing
Here’s the bill for a year’s worth of car insurance in Beijing. This is to insure a 2005 Nissan Tiida. The top invoice is for the mandatory insurance (945 yuan = $126) and the bottom invoice is for the added insurance (theft, smashed glass, bumping up protection, etc.) (3017.19 yuan = $402.29).
Grand total: 3,962.19 yuan or $528.29. What do you pay for a year’s worth of car insurance?
Related:
Oil Change Bill in Beijing
Heating Bill in Beijing
Bill from Visit to Pediatrician in Beijing
Cat: | Time: 10:54 am (utc+8)
November 19th, 2007 at 11:18 am
$A830 for comprehensive insurance here in Aus… but that doesn’t include compulsory third party personal injury which is included in the registration fees.
November 19th, 2007 at 11:19 am
PS that’s a 2004 Ford Falcon (large sedan).
November 19th, 2007 at 11:24 am
$50,000 diesel pick-up - upstate NY rates $849
Full insurance - full everything
November 19th, 2007 at 11:59 am
Driving in and amongst the blue hairs here in SW Florida; our rates are $1,024 for my F-150 pickup truck and $965 for my wife’s 4 dr. sedan. We have fairly basic insurance, although I do have full collision coverage on my vehicle. Florida just put back as a requirement PIP coverage = personal injury protection.
We have no incidents in the past 4 years,
::knock on wood::
November 19th, 2007 at 2:58 pm
$385 for basic 3rd party + theft insurance for a 14 year old bimmer. In New Zealand car insurance of any kind is optional, it is completely legal to drive a car with no insurance what-so-ever which I think is crazy. Especially given the way they drive over there and the quality of roads.
November 19th, 2007 at 3:19 pm
moom US$737, thanks.
paul & Todd: Thanks for checking in from your repspective states.
eyal: Is that $385 in NZD? (US$291?) Third-party isn’t required by law in NZ? That is odd but appeals to the libertarian (anarchist?) in me. Note that the compulsory insurance in China is around $126, that’s it.
November 19th, 2007 at 3:43 pm
US$385, yep third party isn’t required by law. Maybe it’s cheaper to buy someone a new sheep in case of accident :-)
November 19th, 2007 at 4:03 pm
eyal: Old New Zealand sheep probably drive better than the three million Beijingers who have slid behind the wheel for the first time these last couple years.
November 19th, 2007 at 8:42 pm
$70 a car per month is ballpark U.S. rates, some more, some less, depending on the state it’s in, the coverage limits, and whether it’s an offbeat vehicle.
FWIW I think the right way to insure is optional. If I wreck your car, you should have “uninsured motorist coverage.” You can buy that, you know. If I drive into your house, your homeowner’s policy covers that. Etc. Insurance is for those with assets to protect their own assets. I would still buy insurance because I would like protection in a lawsuit if I were negligent …
November 19th, 2007 at 9:05 pm
The reason to require insurance for damage of other people is otherwise I will just end up declaring bankruptcy and the state will end up dealing with the other person’s injuries….
November 19th, 2007 at 10:32 pm
Please point to a state where mandatory insurance laws actually prevent what you’re complaining about from happening. LOL.
If it’s third-party, it’s not “insurance.” Insurance is for indemnification of the insured’s losses. The other person should buy their own insurance (as suggested in my above comment) to protect themselves from the “moom”s who would declare bankruptcy, or who have no assets to begin with.
:-)
Mandatory insurance laws have been proven to NOT prevent people from driving without insurance. The mandatory amounts are generally so small as to be worthless in terms of indemnifying loss, i.e., $25000 U.S. for bodily injury or property damage? Does that really protect your assets if someone with low level of “mandatory” coverage cripples you in an accident, or drives their car through your home, or totals your Hummer?
If I have no assets, what do I care about driving without insurance. You can’t sue blood out of a turnip. If you have assets above the minimum limits of insurance, you had best buy YOUR OWN policy to indemnify YOU in case I, a non-insured turnip that you couldn’t sue, hit you.
The insurance laws aren’t for your protection, anyway. They are just an excuse the State uses to keep its watchful eye on you, your taxable assets, etc. The extension of insurance laws into database requirements for insurers to report transactions at the vehicle/license plate level to law enforcement are a de facto expansion of the police / surveillance state.
November 20th, 2007 at 1:59 am
$939.00/year here in Maine 44 yr old female
(That is with one speeding ticket)
:)
November 20th, 2007 at 9:03 am
$1200/year - 2007 Porsche 911 - Georgia - full coverage - clean record
November 20th, 2007 at 9:16 am
We have to pay $A760 a year registration which includes the compulsory third party insurance (personal injury only). I can’t find how much is covered by this, but anyway you are liable if you register your car and therefore pay the insurance.
November 20th, 2007 at 10:10 am
I’m curious, is the driving done on the right or left side of the road in China?
November 20th, 2007 at 10:12 am
@Linda: thanks for checking in from Maine and I recommend the Valentine One radar detector if you have a lead foot (saved me from getting probably 100 tickets).
@atomic: That seems mighty cheap for a new Porsche 911. How much did that baby cost you, all in?
@moom: I understand, so it sounds like the state is the one who provides the third-party — interesting.
November 20th, 2007 at 10:14 am
groucho: On the right side which is to say the correct side. ;-) In Hong Kong (a former British colony) they still drive on the wrong side.
November 20th, 2007 at 10:29 am
$90k. And they don’t even throw in a free oil change. :)
November 20th, 2007 at 11:38 am
atomic: I will hold off on the 911 until my minor midlife crisis explodes into a major one, or my bald crown extends its reach to my forehead. ;-)
November 20th, 2007 at 12:26 pm
Actually, it is a private insurer who has the monopoly to provide the compulsory insurance and the money is collected through the registration fee.
November 20th, 2007 at 2:26 pm
moom: Nice racket. Does the monopoly switch to some other connected group every X number of years?
November 20th, 2007 at 4:10 pm
Not aware of any rotation - the insurance goes through NRMA the equivalent of AAA in Australia. I think IAG is the actual insurer.