Top 7 Reputable Auto Insurance Companies with Good Prices

Auto insurance company
Latest update date: February 19, 12

Car insurance is a form of financial protection that helps car owners reduce the economic burden when unexpected risks related to the car occur. When participating in car insurance, you will be guaranteed compensation by an insurance company for damage to property, health, and even life in the event of traffic accidents, theft, fire, etc.

According to a study by the Insurance Information Institute (2023) in the 'Global Automotive Insurance Trends' report, auto insurance helps reduce 78% of the financial burden for car owners in the event of accidents and incidents.

Choosing a reputable auto insurance company not only helps car owners minimize financial risks but also ensures benefits when an accident occurs. Below is a list of 7 auto insurance company in Vietnam, along with details of the services and benefits they offer.

Auto insurance company
Reputable auto insurance company

PTI Auto Insurance Company

Post and Telecommunication Insurance Joint Stock Company (PTI) is one of the prominent names in the auto insurance industry in Vietnam. PTI has built a solid reputation thanks to the quality of service and transparency in the compensation process.

Conditions for participation in insurance:

  • Minimum car value 100 million VND.
  • Vehicle not more than 15 years old.

Right and benefit:

  • Garage repair system up to 484 branches.
  • Free rescue within 100 km radius.
  • No depreciation is charged for replacement parts.
Postal Insurance (PTI)
Postal Insurance (PTI)

PJICO Auto Insurance Company

PJICO (Petrolimex Insurance Corporation) has been operating for more than 20 years and has received many awards for service quality.

Advantage:

  • Put customer interests first.
  • Fast and dedicated compensation support.

Right and benefit:

  • Compensation for physical damage to the vehicle.
  • Wide range of repair garages.
PJICO auto insurance
PJICO auto insurance

Bao Viet Insurance

Bao Viet is one of the oldest insurance companies in Vietnam, with over 50 years of experience.

Strength:

  • Extensive branch system with more than 300 locations nationwide.

Right and benefit:

  • Free rescue within 70 km.
  • Resolve claims quickly and efficiently.
Bao Viet Insurance
Bao Viet Insurance

Bao Minh Insurance Company

Bao Minh stands out with its commitment to properly fulfill its responsibilities under the insurance contract.

Benefits:

  • Freedom to choose repair facility.
  • No depreciation required for replacement parts or supplies.

Right and benefit:

  • Compensation for engine damage due to flooding.
Bao Minh auto insurance
Bao Minh auto insurance

BIDV Insurance Company (BIC)

BIC is a product of BIDV Bank and Viet Uc Insurance Company. Although newly established, it has quickly affirmed its position in the market.

Advantage:

  • Enthusiastic staff, 24/7 customer support.

Right and benefit:

  • Choose your own repair garage.
  • Covers rental costs during repairs.
BIDV Auto Insurance (BIC)
BIDV Auto Insurance (BIC)

PVI Petroleum Insurance Company

PVI, with strong financial resources from the oil and gas industry, has affirmed its position in the field of auto insurance.

Highlights:

  • National standard garage network.

Right and benefit:

  • Insurance coverage for driver and passengers.
  • No depreciation is charged for replacement materials.
PVI Oil and Gas Insurance
PVI Oil and Gas Insurance

Liberty Insurance Company

Liberty is a famous international brand, providing a variety of insurance packages in Vietnam since 2003.

Benefits:

  • Broad coverage, including water hammer and flooding.

Right and benefit:

  • Free accident rescue all year round.
Liberty auto insurance
Liberty auto insurance

Choosing a reputable auto insurance company will help you feel more secure when participating in traffic. The above companies not only provide good service but also ensure maximum benefits for customers. Consider carefully to choose the insurance package that best suits your needs.

FAQ – Frequently Asked Questions

1. Is auto insurance mandatory?

Car insurance is mandatory under Vietnamese law, specifically third-party liability insurance, to protect the rights of traffic participants.

2. What is the typical range for auto insurance premiums?

Car insurance premiums in Vietnam typically range from 1% to 3% of the vehicle's value, depending on the type of insurance and the age of the vehicle.

3. What is the compensation process when an accident occurs?

The claim process usually includes the following steps: reporting the incident to the insurance company, providing claim documents, assessing the damage, and receiving compensation within 7 to 30 days, depending on the company.

4. What types of additional insurance are available for cars?

Additional types of auto insurance include:

  • Accident insurance for driver and passengers.
  • Spare parts theft insurance.
  • Hydrostatic and flood insurance.

5. How to choose the right insurance package for your needs?

To choose the right insurance package, you need to determine the value of the car, the level of use, potential risks and payment budget. You should consult experts or consultants of the insurance company. See the article now: Top 8 Experience in buying auto insurance suitable, most economical shared by many people.

6. Can I change my insurance package during the contract period?

Yes, you can switch insurance plans during the contract period, however, it will require a procedure and may incur additional switching or adjustment fees.

7. How long is auto insurance valid for?

The validity period of auto insurance is usually 1 year, after which you need to renew or re-sign the contract to continue to be protected.

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Thematic: Car insurance

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