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China’s first flat-tire insurance born on May 20

China’s and New Focus Auto Group (NFA Group) joining with Zhong’an Insurance held a news press in Shanghai on May 20.

On the press, the three companies released China’s first flat-tire insurance, which means that from May 15, customers could enjoy free flat-tire insurance after buying over 17 inches size of tires from or over 14 inches size of tires from NFA Group’s shops.

(Tirewolrd CEO Feng Sujuan, Tuhu CEO Chen Min, Zhong'an Insurance CEO Chen Jin and NFA CEO Zhang Jianxing)  

If the tires blow out or bump during 0-6 months you bought, they will be paid 80% of payment as compensation; If the tires blow out or bump during 7-12 months you bought, they will be paid 60% of payment as compensation, according to the insurance.

With China becomes the largest auto market in the world, more and more auto owners start to pay attention on after-sale markets, tire troubles listed the top. Because tire insurance is a blanket in China’s auto insurance.

Vandalism is not the only cause of a flat tire. Road debris, tread wear, over-inflation and extreme temperatures can all cause tires to leak air or have a sudden blow-out. When this happens, the tire itself is not covered by most auto insurance policies, but any damages caused by the blow-out may be paid by insurance.

For example, if your tire blows out on the highway and the shredded tire flies off, damaging the side of your car, the body damage to the vehicle will be paid under your comprehensive coverage. If the blow-out causes you to lose control of the vehicle and veer off the road, hitting a fence post, the body damage will be handled under collision coverage.

Either way, only the damages caused by the tire will be covered. The tire itself is your responsibility to replace, and paying for the replacement will not count toward your deductible.

Now, every customer could enjoy the under-rule flat tire insurance after buying tires from and NFA shops.

(Tuhu COO, Hu Xiaodong)

On the press, the three companies said that they will hand in hand to release more new and high value-added products to auto owners.