Motor insurance renewal in Taiwan
Renewing motor insurance in Taiwan primarily involves ensuring that compulsory motor vehicle liability insurance (CMVLI) is current. This can often be done through the original insurer or by comparing new policies from other insurance companies.
It is generally advisable for vehicle owners to initiate the renewal process for compulsory motor vehicle liability insurance at least a month before its expiration date. This allows sufficient time to compare policy options, arrange payment, and avoid any lapse in coverage, which is legally required for all motor vehicles.
Start 30 days ahead
To compare policies and ensure continuous coverage before the current policy expires.
The process
- 1Check the expiration date of the current motor insurance policy, especially the compulsory motor vehicle liability insurance.
- 2Contact the current insurance company to inquire about renewal options and premiums, or research alternative insurance providers.
- 3Compare coverage details and premiums from various insurers to find a suitable policy.
- 4Provide necessary vehicle and owner information to the chosen insurer.
- 5Make the premium payment according to the insurer's instructions.
- 6Receive the new insurance policy document, either physically or electronically.
What to bring
- Vehicle registration certificate (行車執照)
- Identity document of the vehicle owner (e.g., ID card or Alien Resident Certificate)
- Previous insurance policy details (for reference)
Who handles it
Motor Insurance Association of Chinese Taipei (中華民國產物保險商業同業公會), Financial Supervisory Commission (金融監督管理委員會)
The cost of motor insurance, including compulsory motor vehicle liability insurance, varies based on factors such as vehicle type, displacement, age of the owner, claim history, and the specific insurance company and coverage selected. Policyholders should confirm the exact premium with their chosen insurer.
What commonly goes wrong
- Failing to renew compulsory motor vehicle liability insurance before its expiration can lead to fines and legal penalties.
- Ensure all vehicle and personal details provided to the insurer are accurate to prevent issues with claims.
- Thoroughly compare coverage and terms from different insurers, not just premiums, to ensure adequate protection.
- Keep a copy of the new insurance certificate with the vehicle as required by law.
Sources
- nlia.org.tw
- 強制汽車責任保險法 law.moj.gov.tw
Other documents in Taiwan
Motor insurance renewal in other countries
Often renewed together
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