Experience Buying 5-Seater Car Insurance

5 seat car insurance provides a broad layer of protection for vehicle owners, both financially and legally. When purchasing a new car, having an affordable insurance policy helps ensure that you will be compensated in the event of damage or theft. In addition, auto insurance also includes the possibility of compensation for damages caused to third parties in the event of an accident.

Vietnam Insurance Services Business Association (ABIRA): According to ABIRA's report in 2022, 4-seat and 5-seat cars account for 80% of the total number of cars participating in auto insurance in Vietnam. This data shows that this is an important market segment of the car insurance industry.

Choosing the right type of insurance and understanding the terms and conditions of the contract is also important. A number of other factors may also be considered, including rates and compensation limits, flexibility in premium payments, and the availability of scheduled and emergency support.

In this article, we will delve into the important aspects of 5-seater car insurance, including the different types of insurance, the benefits and rights of car owners, as well as important notes. important when buying auto insurance. By understanding this information, you will be able to make smart and optimal decisions about 5-seater car insurance for your beloved vehicle.

Types of car insurance 5 seats car owners should know

5-seat car insurance includes:

• 5 seat car insurance One-way: This is a type of insurance to provide financial support from the insurance company when the car owner causes an accident, loss of life or property to a third party.
• Two-way 5-seat car insurance: This is a type of insurance that helps car owners not only be compensated by the insurance company for damages to third parties but also reduce the financial burden of repair costs due to water damage, scratches, etc.
• Physical insurance for 5-seat cars: This is an optional type of car insurance but will help you minimize the burden due to incidents such as theft, collision, natural disasters... Usually this insurance package will come with other services. different types of insurance, such as hydro strike insurance, natural disaster flood insurance or parts theft insurance... Depending on your needs and vehicle model, you will choose the appropriate service package.

Range of types of 5-seat auto insurance

1. One-way 5-seat car insurance

The third party will be compensated by the insurance company for property and life damage at a reasonable cost and based on the car insurance contract. In particular, for property damage, it is based on the fault of the vehicle owner to apply the appropriate payment.

However, there are some cases when the insurance company will not pay damages:

• The 3rd party intentionally caused damage
• When the owner of the car caused the accident, fled and did not have a driver's license.
• When the car owner causes damage to houses and trees
• When the vehicle owner causes damage to valuable assets such as antiques, gems, precious and rare paintings ...

2. Two-way 5-seat car insurance

The coverage of this insurance will be wider because it includes civil liability insurance and car material insurance. Therefore, similar to 5-way one-way auto insurance, the third party will be compensated by the insurance company. In addition, the company will also pay compensation for car damage when you have an accident, natural disaster, flood or stolen parts ...

However, there will be some cases where the vehicle owner will not be compensated by the insurance company, including:

• 5-seat cars naturally wear out, over time
• Damage caused by tires of 5-seat cars
• Vehicle engine losses due to water intrusion cause hydrostatic phenomenon
• 3rd request onwards due to theft of parts and parts of 5-seat cars
• Loss due to the body of the car 5 seats
• Damages to non-original vehicle parts are not included in the vehicle inspection certificate.

3. Physical insurance of 5-seat cars

The car owner will be supported by the insurance company to pay for the repair or compensation when it comes to theft or accidental accident. Normally, this premium of companies is also different such as Huyndai 1.65% and Ford 1,85% ...

In some cases, owners of 5-seater cars will not be paid by insurance companies:

• 5-seat car owner deliberately caused an accident causing the car to be scratched or damaged
• Owners of 5-seat cars violate traffic laws or violate laws such as transporting banned goods, drinking alcohol, using drugs ...
• Owners of 5-seat cars do not have driving licenses according to the law or expire.
• Damage to cars due to wars, earthquakes, terrorism, etc.
• 5-seat cars are overloaded or naturally wear out over time and not due to external factors.

Note when buying 5-seat car insurance

Below are some important notes when buying 5-seat car insurance:

• Determine the appropriate type of insurance:
• Compulsory civil liability insurance: This is a type of insurance required by law, protecting the vehicle owner's civil liability for damages caused to third parties.
• Vehicle physical insurance: This insurance will protect your vehicle from physical losses such as collision, fire, explosion, flood, theft, etc. This is a type of voluntary insurance.
• Choose the insurance premium that suits your needs and budget. The fee will depend on many factors such as vehicle type, vehicle age, vehicle value, registration area, compensation history, etc.
• Find out and compare insurance packages from different insurance companies in terms of coverage, benefits, liability limits and terms.
• Read the insurance terms carefully before signing the contract, paying attention to exclusion clauses, premium payment deadlines, claim process, etc.
• Provide accurate information about the vehicle and driver when purchasing insurance to avoid the risk of being denied compensation in case of an incident.
• If anything is unclear, ask your insurance agent for a full explanation.
• Strictly comply with regulations on maintenance, vehicle use, record keeping, etc. as in the insurance contract to ensure your rights.

Buying car insurance properly will help you protect your assets, minimize risks and have peace of mind when driving your vehicle.

Frequently asked questions about 5-seat car insurance

1. Does one-way 5-seat car insurance include vehicle physical insurance?

No, one-way 5-seat car insurance does not include vehicle physical insurance. This type of insurance only provides financial support from the insurance company when the car owner causes an accident or damages a third party.

2. What does two-way 5-seat car insurance cover?

Two-way 5-seat car insurance includes both civil liability insurance and vehicle physical insurance. This type of insurance helps car owners not only be insured for damages to third parties but also reduce the financial burden of repair costs due to accidents, stolen parts, natural disasters...

3. When should you choose physical insurance for a 5-seat car?

Physical insurance for a 5-seat car should be chosen when you want to minimize the financial burden when encountering incidents such as theft, collision, natural disasters... This type of insurance is not mandatory but is very useful.

4. What is the cost of physical insurance for a 5-seat car?

The physical insurance fee for a 5-seat car depends on the company, for example, Hyundai is 1.65% and Ford is 1,85%.

5. Are there any cases where insurance does not compensate owners of 5-seat cars?

There are some cases where car owners are not compensated by the insurance company, including: natural wear and tear of the car, damage due to tires and tubes, engine loss due to water ingress, and the 3rd or subsequent claim due to loss. stealing spare parts...

6. What is compulsory civil liability insurance?

This is a type of insurance required by law, protecting the vehicle owner's civil liability for damages caused to third parties. You can read the article right away Pay attention when buying auto civil liability insurance most detailed.

7. What is vehicle physical insurance and how is it useful?

Vehicle physical insurance will protect your vehicle from physical losses such as collisions, fires, explosions, floods, theft... This is a type of voluntary insurance and helps minimize financial risks when having problems with vehicles. car. See these details Pay attention when buying auto insurance current latest.

8. What factors does the insurance premium depend on?

The insurance premium will depend on many factors such as vehicle type, vehicle age, vehicle value, registration area, compensation history, etc.

9. How to compare insurance packages from different insurance companies?

You need to learn and compare insurance packages from different insurance companies in terms of coverage, benefits, liability limits and terms. Read the insurance terms carefully before signing the contract, paying attention to exclusion clauses, premium payment deadlines, claim process, etc.

10. What should you keep in mind when buying 5-seat car insurance?

When buying 5-seat car insurance, you need to strictly comply with the regulations on maintenance, vehicle use, record keeping... as in the insurance contract to ensure your rights.