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The responsible party for the spontaneous combustion accident of a new energy vehicle has finally been identified.

On August 4th, the China Insurance Association announced on its official website a notice on soliciting opinions on the "China Insurance Association's Exclusive Terms for Commercial Insurance of New Energy Vehicles (2021)".

Many media enthusiastically cheered: New energy vehicles have exclusive insurance, and the fire and spontaneous combustion insurance can compensate!

Indeed, the most eye-catching part of the consultation draft on exclusive insurance for new energy vehicles is the compensation issue after the spontaneous combustion of new energy vehicles. According to the solicitation of opinions, the insurance company will pay compensation for future natural disasters and fires caused by accidents.

Previously, the compensation party for spontaneous combustion and fire of new energy vehicles was not clear. Faced with such a dilemma, car owners often have to "win by making noise" and strive for car companies to take responsibility for it. In the vast majority of practical cases, car companies have indeed assumed liability for compensation, but in some cases, car companies do not assume liability for compensation, and car owners have to enter judicial proceedings.

According to common sense, insurance companies should pay compensation. However, in practice, we have not found a case where an insurance company has paid compensation. This makes one wonder: who will compensate for the spontaneous combustion and fire of new energy vehicles?

The introduction of exclusive insurance for new energy vehicles has finally given a clear answer. After a new energy vehicle catches fire and spontaneously ignites, there are clear regulations on who will compensate the owner and who will compensate for the associated losses in the exclusive insurance for new energy vehicles.

Article 6 of the draft for comments on exclusive insurance for new energy vehicles

In the solicitation draft, the fire and combustion of new energy vehicles is explicitly included in the insurance company's insurance coverage, regardless of whether the vehicle is driving, parking, or charging.

At the same time, for accidents unique to new energy vehicles, such as fires while charging, and accidental electric shock accidents caused by private charging piles, in this draft for comment, insurance companies assume compensation liability in the form of additional insurance.

But why does exclusive insurance for new energy vehicles only appear today? There is a lot of news about new energy vehicle fires. Should insurance companies be the "big losers"?

The position of new energy vehicles in the national economy far exceeds the proportion of their actual output value, especially in the minds of central leaders and competent departments, forcing insurance associations to change their attitudes. At the same time, the quality of new energy vehicles has improved, and the probability of ignition has decreased. At this point, insurance companies are ready to "assume social responsibility.".

However, regarding new energy and smart cars, the challenges faced by insurance have not yet been fully resolved.

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Previously: When spontaneous combustion started, car companies paid first

New energy vehicles ignite spontaneously, and most of them are compensated by vehicle companies.

The "Electric Vehicle Observer" obtained the above information after contacting multiple owners of spontaneous combustion new energy vehicles, including those who had undergone battery recalls, as well as the heads of some charging station operators.

Why do car companies become the payers of spontaneous combustion of new energy vehicles? Is it because existing insurance clauses do not allow compensation?

After multiple verifications, it is clear that auto insurance can compensate for the spontaneous combustion of new energy vehicles.

According to the 400 customer service personnel of the People's Insurance Group of China, as long as it is a spontaneous combustion accident within the scope of vehicle damage insurance coverage, claims can be normally settled. Specifically, fires caused by the vehicle itself are within the scope of vehicle damage insurance claims according to the Fire Accident Identification Letter issued by the fire department.

Even based on the situation before the auto insurance reform on September 19th, 2020, as long as new energy vehicles have been insured against spontaneous combustion insurance, claims can also be settled in the event of spontaneous combustion accidents.

So why do car companies have to pay compensation for spontaneous combustion of new energy vehicles before insurance companies?

Part of the special situation is that the car owner has not taken out the corresponding insurance, so he can only seek compensation from the car company. However, it is more likely that car companies will "willingly" compensate for their brand reputation, quality assurance, and subsidies for new energy vehicles.

It is not difficult to understand compensation from the perspective of brand reputation and quality assurance, while subsidies for new energy vehicles are a policy requirement that is easily overlooked.

The information learned by the "Electric Vehicle Observer" is that there are a large number of accidents involving electric vehicles that have caught fire, and vehicle companies may be disqualified from subsidies or other penalties. Therefore, vehicle companies are willing to compensate the owners of spontaneous combustion, in order to minimize the major incidents and minimize the minor ones.

Although there are no explicit provisions in the national subsidy policy for new energy vehicles, relevant provisions have appeared in some local subsidy policies for new energy vehicles.

Spontaneous combustion of new energy vehicles in Sanlitun, Beijing

There was a new energy vehicle brand that was punished in Beijing due to continuous spontaneous combustion of multiple identical models.

Therefore, compared to the subsidies for new energy vehicles that often amount to hundreds of millions or billions, car companies will never lose out on small things. After the spontaneous combustion of new energy vehicles, vehicle companies often process compensation for the owners quickly and quickly. According to the case learned by the "Electric Vehicle Observer", it takes only half a day from the spontaneous combustion to the completion of compensation.

Description issued by the driver after a spontaneous combustion accident in Shanghai

Even when car companies know they are not responsible, they will still make compensation. In Beijing and Shanghai, there have been new energy vehicle fire accidents caused by "flying wire" charging. After asking the car owners to write a commitment letter to prove that the fire was caused by the car owners' problems, the car companies made full compensation to the car owners for "humanitarian" considerations.

After the launch of exclusive insurance for new energy vehicles, car owners no longer need to win by making trouble or litigating with car companies to obtain compensation.

After applying for vehicle damage insurance, the insurance company will make a cover for the owner's spontaneous combustion accident of a new energy vehicle.

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Later: small insurance, big insurance

What should I do if the amount of third-party insurance coverage after auto ignition is insufficient?

Who will compensate for the third-party losses caused by the owner's own charging pile?

After purchasing intelligent driving assistance software, the vehicle is scrapped. Can the cost of purchasing the software be compensated?

These questions also have answers in the exclusive insurance for new energy vehicles.

In this solicitation draft for exclusive insurance clauses for new energy vehicles, a number of additional risks are listed, covering compensation for three parts: spontaneous combustion, charging, and intelligent software. These insurance services are provided for the special circumstances of new energy vehicles, which can compensate for accidents that appear to have little risk but actually have great risk.

Additional fire accident limit doubling insurance is a type of insurance that can prevent huge compensation.

After the additional fire accident limit is doubled, the insured amount of third-party liability insurance for new energy vehicles after spontaneous combustion can be doubled to 2, 3, or 4 times. The specific multiple is subject to the agreement between the owner and the insurance company at the time of insurance.

Taking the aforementioned spontaneous combustion accident in the basement of Shanghai as an example, the third-party liability insurance for this vehicle can compensate for third-party losses caused by the vehicle's fire.

Automobiles burned down in a spontaneous combustion accident in a basement in Shanghai

From the perspective of the value of the two luxury brand cars parked next to the train and ignited, the direct loss has exceeded 1 million yuan, and the combined losses of other vehicles and other items in the basement can make the loss even greater.

Even if the vehicle's third-party liability insurance coverage is 1 million yuan, it is difficult to cover all direct losses.

If additional insurance is applied for quadrupling the limit for fire accidents, a maximum amount of 4 million third-party liability insurance can be obtained in the event of a spontaneous combustion accident, which should be sufficient to compensate for the direct losses caused by this fire.

Insurance services, such as additional fire accident limit doubling insurance, are also provided in terms of charging for special cases and special cases.

In terms of charging, three additional insurances, namely, additional external power grid fault loss insurance, additional self use charging pile loss insurance, and additional self use charging pile liability insurance, have been added.

The coverage of external power grid failure loss insurance is the direct loss of the insured new energy vehicle due to external power grid failure during charging. For example, during charging, vehicle losses caused by sudden power outages will be compensated by this insurance type.

"Self use charging pile loss insurance is a compensation policy for the owner's self use charging pile losses caused by natural disasters, accidents, theft, or damage by others.". For example, the loss of charging piles caused by lightning strikes can be compensated by this insurance.

Private charging pile

"Self use charging pile liability insurance is designed to compensate for the personal injury, death, or property damage caused by the owner's self use charging pile to a third party.". For example, accidents caused by electric leakage from the charging pile will be compensated by this insurance type.

Additional self use charging pile loss insurance and additional self use charging pile liability insurance are insurance for new energy vehicle owners' self use charging piles, and do not require the vehicle to be in a state of charge to enjoy insurance services.

In response to the unique intelligent configuration of new energy vehicles, additional intelligent driving assistance software loss compensation insurance has been introduced in this draft of exclusive insurance terms for new energy vehicles.

The additional intelligent driving assistance software loss compensation insurance can compensate the insurance company for the purchase cost of the intelligent driving assistance software when all losses are caused due to accidents within the main insurance coverage of the vehicle damage insurance, resulting in the inability to use the intelligent driving assistance software.

For example, the FSD software of TSLA is charged separately. After the owner has insured for vehicle damage insurance and additional intelligent driving assistance software loss compensation insurance, and after the vehicle is scrapped due to an accident, the cost of purchasing the FSD software can be compensated by the insurance company based on the insured amount.

A number of additional insurances for exclusive insurance for new energy vehicles are designed for the special situation where there is no insurance for the owner's own charging pile, the amount of third-party insurance coverage is insufficient, and the cost of purchasing intelligent driving assistance software. Although these additional insurances seem to be special situations in special situations, they can solve the major problems of the owner in the event of related accidents.

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Insurance companies want to be "big losers"?

According to the draft for comment, the insurance company will cover the spontaneous combustion accident of new energy vehicles within the insurance coverage. Even spontaneous combustion accidents caused by the quality of automotive products will be compensated by the insurance company in advance.

But if it is the quality defect of a certain product that causes a large number of accidents, will the insurance company still make compensation?

meeting. However, insurance companies are also accounted for and sufficient to handle large amounts of compensation.

Electric logistics vehicles spontaneously ignite in charging stations

One publicly available data is that at the 2020 Global Smart Travel Conference, academician Sun Fengchun of the Chinese Academy of Engineering announced the probability of a new energy vehicle fire, which decreased from 0.49 per 10000 in 2019 to 0.26 per 10000 in 2020.

Based on the current population of about 6 million new energy vehicles, the statement of "big losers" is not accurate. From the perspective of probability, only about 200 new energy vehicles will spontaneously ignite throughout the year.

Based on a single vehicle claim amount of 200000 yuan, the total claim amount for 200 vehicles is only 40 million yuan, which is not even a "drizzle" compared to the trillions of assets in the insurance industry.

Therefore, if the exclusive provisions for new energy vehicles are approved, wealthy insurance companies will assume the main liability for compensation for the spontaneous combustion of new energy vehicles, which will truly become a "big loser", but this is also a manifestation of the social responsibility attribute of insurance.

However, this does not mean that car companies can dump the blame for product quality issues on insurance companies.

From the perspective of insurance companies, if the risk of spontaneous combustion increases for a single vehicle company or model, then insurance companies can increase premiums to reduce risk. If the risk of spontaneous combustion is extremely high, insurance companies can even refuse to cover it.

If an insurance company refuses to assume insurance liability for a certain model, the sales volume of that model must also be poor.

However, if the insurance company carries all the losses caused by the burning of new energy vehicles, the cost will also be considerable. The willingness of insurance companies to resolutely shoulder their social responsibilities may be due to political considerations.

Currently, the status of new energy vehicles as a national strategic emerging industry has been unshakable, and its status is still rising.

The Political Bureau of the CPC Central Committee held a meeting on July 30th to analyze and study the current economic situation and deploy economic work for the second half of the year. The meeting pointed out that among the requirements for specific industries in the national economy, the first one mentioned is new energy vehicles. The meeting called for tapping the domestic market potential and supporting the accelerated development of new energy vehicles.

In addition, the "carbon peak, carbon neutral" dual carbon goal has become an iron rule in all walks of life, and all relevant policies and services must support the dual carbon goal. If there is no exclusive insurance for new energy vehicles, it will obviously become an obstacle to the promotion of new energy vehicles and the reduction of traffic carbon emissions. Insurance companies will become the target of thousands of people.

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New energy vehicle insurance problems to be solved?

Exclusive insurance for new energy vehicles is beneficial to both consumers and car companies, but why is it only introduced at this time?

From the perspective of publicly available information, as early as December 2017, the China Automobile Insurance Association held the "New Energy Automobile Insurance Development Exchange" to launch professional research on the formulation of exclusive clauses for new energy automobile insurance, risk pricing, and claim settlement technology.

However, it was not until the summer of 2021, four years later, that the exclusive insurance clauses for new energy vehicles began to enter the consultation stage. During this period, the delayed introduction of new energy vehicle insurance has led to frequent occurrences of new energy vehicle insurance chaos.

One of the confusion is whether the insurance coverage includes subsidies? That is, whether the insurance amount is calculated based on the pre subsidy vehicle price or the post subsidy vehicle price, and the insurance amount directly determines the premium and claim amount.

In the perception of new energy vehicle owners, new energy vehicle insurance premiums are relatively high, officially resulting in their emergence. However, if an insurance company provides insurance services at a subsidized price, and claims involving damage to power lithium batteries occur, it may be difficult to cover the repair costs with the amount of the claim.

The second confusion is that the compensation amount is greater than the new car price. If the vehicle price before the subsidy is applied for insurance, the insurance company needs to compensate according to the insured amount after a total loss accident occurs. In special cases, the insurance compensation is higher than the actual purchase price of the new vehicle after the subsidy.

This special situation may even lead to criminal acts.

The third confusion is that it is difficult to refuse insurance and settle claims. Due to the particularity of new energy vehicles, some insurance companies have refused to provide insurance, and there are also cases where insurance companies refuse to provide insurance for power lithium batteries in the form of specially agreed terms, while underwriting the entire vehicle. When it comes to claims involving spontaneous combustion during charging and damage to power lithium batteries, there is a problem of difficulty in settling claims.

Now, the exclusive insurance clauses for new energy vehicles have begun to seek opinions. On the one hand, the chaos in the insurance industry really needs to be rectified, and on the other hand, it is the feedback from the Central Economic Work Conference on the accelerated development of new energy vehicles.

In terms of time, the exclusive insurance clauses for new energy vehicles have undergone extensive research. After the central government proposed to accelerate the development of new energy vehicles, the insurance industry took the lead in providing feedback and assistance for the development of new energy vehicles, which should be commended.

In the solicitation draft for exclusive insurance for new energy vehicles, it can be seen that insurance companies have taken the initiative to assume insurance responsibilities from the perspective of social responsibility in terms of auto ignition, charging, and intelligent driving assistance software.

However, there are still some unclear parts in the draft for comment.

For example, regarding the insurance clauses for replacing electric vehicles, it is not clear whether the lithium battery is covered by the insurance; Whether the car accidents caused by the OTA upgrade of intelligent electric vehicles are within the scope of protection, etc.

New energy vehicles are not only a change in automotive energy, but also significant changes in the production, manufacturing, and use of automobiles. Whether the insurance industry can rapidly transform and support the subsequent development of new energy vehicles needs further observation.

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