Do I have to pay a late fee when compulsory insurance expires?

There is no late fee for compulsory insurance, and there is no need to pay late fee for renewal of insurance when it expires. After the owner is found not to be insured with compulsory insurance, he will be fined twice the premium, make up the compulsory insurance and detain the vehicle. If it is overdue, renew the insurance as soon as possible. As long as you are out of danger for no more than three months, you can still enjoy the discount.

Legal analysis

There is no need to pay late fees when compulsory insurance expires. Be sure to pay it after it expires, and pay strong insurance on time next time. 1. The owner only needs to bring the driving license, copy of ID card and license plate number information and go through the formalities at the counter of the insurance company. He can also renew compulsory insurance in time through telephone auto insurance or online auto insurance channels, so as not to bring unnecessary trouble to the driving life of the owner. 2. Many people worry that the overdue payment of compulsory insurance will result in late payment fees. Actually, it is not. According to relevant regulations, there is no late fee for car owners to pay compulsory insurance. On the contrary, if the owner fails to pay in time, he will be fined twice and the vehicle will be detained once he is found by the transportation department. 3. If the expiration date of compulsory insurance is still within three months, then the owner can still enjoy preferential policies in time. 4. After the insurance company staff confirms that the insurance policy information is correct, they will input the insurance information into the microcomputer, and at the same time, the owner will pay the compulsory insurance premium. Then, the insurance company staff will print out the compulsory insurance policy, notice of floating rate, insurance mark and insurance invoice and give them to the owner. 5. After the owner confirms that the information of the compulsory insurance policy he has obtained is correct, he will post the insurance sign on the front windshield. If there is no front windshield, he will carry a portable insurance sign with him.

legal ground

Regulations on Compulsory Motor Vehicle Traffic Accident Liability Insurance Article 2 The owner or manager of a motor vehicle driving on the road in People's Republic of China (PRC) shall handle compulsory motor vehicle traffic accident liability insurance in accordance with the provisions of the Road Traffic Safety Law of the People's Republic of China. These Regulations shall apply to the insurance, compensation, supervision and management of compulsory motor vehicle traffic accident liability insurance.