People's Insurance Company of China (PICC) transfers automobile insurance to make up the commercial insurance premium.

Vehicle transfer insurance will not increase in price. During the period of auto insurance protection, if the ownership of the insured motor vehicle is transferred, the new owner will re-apply for auto insurance, and the compulsory insurance and commercial auto insurance will return to the benchmark premium. The premium will be calculated according to the first year auto insurance standard. After the transfer, the original premium is cancelled and commercial insurance premium needs to be supplemented.