The insured amount, also known as the insured amount, is the basis for the insurer to calculate the compensation amount according to the insurance contract after the vehicle accident, and it is also the basis for the insurer to calculate the premium. The insured amount is determined by the insured and the insurer in the following three ways. (1) Determining the new car purchase price according to the new car purchase price refers to the price of buying a new car of the same type as the insured vehicle at the place where the insurance contract is signed (including vehicle purchase tax). When applying for insurance, the purchase price of the new car is determined according to the sales price in the local market, and it is stated in the insurance policy. If the same type of new car has no market sales price, it shall be determined by the insured and the insurer through consultation. (2) Determining the actual value According to the actual value of the vehicle, it refers to the purchase price of the same type of new car at the time of insurance minus the depreciation amount of the service life of the vehicle. Depreciation of family cars is calculated according to the monthly depreciation rate, and depreciation is not calculated if it is less than L months. The depreciation rate shall be implemented according to the relevant provisions of the contract, but the maximum depreciation amount shall not exceed 80% of the purchase price of the new car when the insurance vehicle is insured. (3) The insured negotiates with the insurer, but the insured amount shall not exceed the new car purchase price of the insured vehicle at the time of insurance. After the insurance amount is determined, the insurer shall make it clear in the policy, and the insurer shall bear the corresponding compensation liability for vehicle loss insurance according to the different ways of determining the insurance amount.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.