TapTechNews reader Xichuangjiushi provided a tip, TapTechNews reported on May 15th that BYD Insurance recently obtained approval to use national uniform compulsory insurance terms and basic insurance rates, which means that official insurance from BYD Automobile will be available. According to the 'Difen Home' official account, on May 13, BYD Insurance issued its first policy, involving the 24 models of the Dolphin Glory Edition 420km Freedom Edition, with a current guide price of 11.28 million yuan (approximately $1.75 million USD). The leak stated that the total premium for this car is 3,900 yuan (approximately $607 USD), including 2,950 yuan (approximately $459 USD) for commercial insurance and 950 yuan (approximately $148 USD) for compulsory insurance. The leak also mentioned that BYD Insurance is currently only open to Dolphin models, limited to sales in Shandong Province and available at a trial at a certain 4S store in Shandong, with plans to open up permissions for other models in the future. The official account also shared electronic policy information and stated that the first BYD Insurance policy was given as a free gift to new Dolphin car owners, with pricing for future models subject to the official fee schedule published by BYD Insurance. According to previous reports from TapTechNews, in 2023, BYD acquired Eian Insurance for 3.6 billion yuan (approximately $561 million USD). Eian Insurance was one of the 'four professional Internet insurance companies in China.' In 2022, Eian Insurance was approved to enter bankruptcy reorganization, becoming the first domestic property insurance company to undergo bankruptcy reorganization. On September 13, 2023, BYD Insurance increased its registered capital from 1 billion yuan to 4 billion yuan (approximately $625 million USD). On November 8, 2023, the regulatory authority officially approved BYD Insurance to expand its business scope to include 'motor vehicle insurance, including compulsory motor vehicle traffic accident liability insurance and motor vehicle commercial insurance,' marking BYD's official entry into the auto insurance market, which was not part of Eian Insurance's original business scope. On May 3, BYD set up an insurance service entrance in its official app, but online insurance application is not yet supported. The app introduces that BYD Insurance's service scope includes 7 main categories and 15 specialized vehicle insurance products, including compulsory insurance and commercial insurance, with a specific focus on new energy vehicles. Shenzhen BYD Property Insurance Co., Ltd. has been approved to use national uniform compulsory insurance terms, basic insurance rates, and corresponding rate adjustment factors in Anhui, Jiangxi, Shandong (excluding Qingdao), Henan, Hunan, Guangdong, Shaanxi, and Shenzhen.