Under CIF terms, the beneficiary of the insurance policy will be endorsed to the buyer. Once the claim is successful, the insurance company's foreign currency compensation will be directly deposited into the buyer's designated overseas company or personal account.

Absolutely. Even if you clear customs through gray channels, local commercial insurance companies will refuse to cover third-party liability insurance due to the vehicle not complying with national traffic laws; additionally, the vehicle will definitely fail the annual safety inspection at the local DMV.

The original Chinese license plates are obscured to protect the previous owner's personal privacy, and also because the plates have been forcibly reclaimed by Chinese traffic management after the vehicle completed the "transfer pending export" registration. This serves as physical proof that the vehicle has legally and compliantly completed the upgrade.