3 Factors for Professional Auto Insurance Evaluation

Car insurance is a contract between the car owner and the insurance company. Accordingly, the insurance company will pay part or all of the damages that the car owner must bear when incidents related to the car occur such as: accidents, theft, fire, natural disasters, etc.

According to research by the Insurance Information Institute (2023) in the report 'Global Auto Insurance Trends', auto insurance is not only a financial protection tool but also contributes to reducing 35% of the cost burden for car owners when an incident occurs.

Car insurance is not only a legal requirement but also an important financial protection solution for car owners when participating in traffic. This article will provide detailed and necessary information so that you can choose the most professional and suitable car insurance package.

What is professional auto insurance?

Professional auto insurance is a concept that includes many different types of insurance, to ensure the rights of car owners in risky situations. An insurance package is considered professional when:

• High liability coverage: Covers a wide range of risks such as accidents, fires, natural disasters, and theft.
• Additional services: Services such as free rescue, repair at genuine garages, and quick compensation support.
• Timely compensation payment: Insurance companies must make compensation payments as soon as an incident occurs.

Some popular types of professional auto insurance

Compulsory civil liability insurance:

• Subject: All vehicle owners participating in traffic in Vietnam.
• Scope: Compensation for bodily injury, death and property damage to third parties.

Civil liability insurance for transported goods:

• Subject: Car owners using cars to transport goods.
• Scope: Compensation for loss of goods during transportation.

Auto physical damage insurance:

• Conditions of participation: Motor vehicles participating in traffic.
• Scope: Compensation for material damage caused by accidents, fires, natural disasters, or theft.

Accident insurance for driver and passengers:

• Conditions of participation: People sitting in motor vehicles.
• Scope: Compensation for bodily injury and death caused by accidents.

Factors for assessing the professionalism of insurance

When choosing auto insurance, buyers need to pay attention to the following factors:

• Scope of liability: Is it appropriate to the actual needs of the vehicle owner?
• Compensation level: Is it satisfactory and reasonable compared to the premium paid?
• Additional services: Does the insurance company provide services such as free roadside assistance or repairs at an authorized garage?

This information is often clearly stated in the terms of the insurance contract, so buyers need to consider carefully before deciding.

According to Asian Insurance Review's (2023) study in 'Consumer Behavior in Auto Insurance', 82% of customers value three main factors when choosing insurance: coverage, speed of claim settlement, and accompanying support services.

Professional auto insurance companies in Vietnam

Choosing a reputable insurance company is very important to ensure your rights. Below are some prominent auto insurance companies in Vietnam:

• Bao Viet Insurance Company: With over 50 years of experience, Bao Viet provides a variety of insurance packages from compulsory to voluntary with free rescue service within a range of 70km.
• PVI Insurance Company: As one of the leading companies in the field of motor vehicle insurance, PVI stands out with its nationwide standard garage system and quick compensation process.
• PTI Insurance Company: Provides a variety of insurance packages and has a team of enthusiastic consultants to support customers 24/7.
• Liberty Insurance Company: Known for its flexible insurance packages and 24/7 traffic assistance service, Liberty provides peace of mind to customers.
• ...

Choosing the right auto insurance package not only gives you peace of mind when participating in traffic but also ensures financial benefits in case of an accident. Carefully consider the factors that evaluate the professionalism of the insurance package as well as choose a reputable company to ensure the best benefits for yourself and your property.

FAQ – Frequently Asked Questions

1. What does compulsory auto insurance cover?

Compulsory auto insurance in Vietnam covers compensation for bodily injury, death and property damage to third parties up to VND100 million per accident, as prescribed by law.

2. How does the auto insurance claim process work?

The claim process usually includes the following steps: reporting the incident to the insurance company, providing claim documents, assessing the damage, and finally paying compensation within 30 days of complete documentation.

3. What types of insurance are there besides liability insurance?

Out Civil liability insurance, there are also types such as: auto insurance, accident insurance for drivers and passengers, and cargo insurance.

4. What are the exclusions in the insurance contract?

Exclusions typically include: damage caused intentionally, damage while intoxicated or without a valid driver's license.

5. What are the benefits of participating in voluntary insurance?

Voluntary insurance offers many benefits such as: higher compensation for physical damage, free rescue services, and repair support at genuine garages.

6. Where to buy reputable and good priced auto insurance?

Thanh Phong Auto is one of the prestigious addresses in Ho Chi Minh City specializing in providing sales services. car insurance and car repair. Thanh Phong Auto is not only a car repair shop but also an agent distributing car insurance packages from many large domestic and foreign insurance companies such as Bao Viet, Liberty, MIC - Military, and VNI.

Here, customers will be enthusiastically consulted about insurance packages that suit their needs and financial capabilities. Thanh Phong Auto is committed to providing clear information about each type of insurance, helping car owners understand their rights and responsibilities when participating in insurance.

Benefits of buying auto insurance at Thanh Phong Auto:

• Variety of choices: Customers can choose from a variety of insurance plans without being tied to a specific company.
• Quick procedures: Professional staff support customers to complete procedures quickly and effectively.
• Professional repair service: Thanh Phong Auto not only sells insurance but also directly assesses and repairs accident vehicles, ensuring customer benefits throughout the validity period of the insurance contract.
• Contract renewal support: The company will notify customers about insurance contract renewal to ensure that the vehicle is always continuously protected.

With a team of experienced engineers and technicians, Thanh Phong Auto is confident in providing the best service to customers, helping them feel more secure when participating in traffic. If you are looking for a reputable auto insurance sales address in Ho Chi Minh City, come to Thanh Phong Auto for the best advice and support.