Yes. You need to get a Comprehensive Car Insurance which offers extensive insurance coverage that protects your vehicle against financial loss as a result of collision, theft and natural calamities. The insurance is renewed annually until the end of your loan term.

Payment for your AutoPlus loan will be settled monthly and may be done via: 

a. Automatic Debit Arrangement (ADA)
    Monthly loan amortization will automatically be deducted from your enrolled China Bank Account every due date 

b. Post Dated Checks

*To avoid any late payments, please ensure that your account is sufficiently funded on or before the due date. Include any insurance premiums that will be due for payment, if any. 

Here are some charges for your AutoPlus Loan:

• Chattel Mortgage Fees - Inclusive of documentary stamp tax, processing fee and notarial fee
• Comprehensive Motor Insurance Premium 

You can call China Bank Insurance Brokers Inc. at telephone nos. 8885-5555 local 5439 or 6570-6572 to request for an insurance quotation.