Compulsory car insurance (also known as civil liability insurance) is a type of insurance that all car owners must participate in according to the law. This is a "safety net" to help you protect your finances in case of an unfortunate traffic accident that causes damage to people and property of others.
In the context of Vietnam's strong economic development, people's demand for car ownership is increasing. According to data from the General Statistics Office, the number of newly registered cars in Vietnam has increased by an average of 10% per year in the period 2019-2023. Along with buying a car, compulsory car insurance is an issue that cannot be ignored.
This article will provide detailed information and Important note about compulsory car insurance that every car owner needs to know.
Compulsory car insurance is a type of insurance that Vietnamese law requires all car owners to purchase. The main purpose of this insurance is to protect the rights of third parties in the event of an accident caused by a car.
Main features:
The compulsory automobile insurance period is 1 year, calculated from the date stated on the insurance certificate. Vehicle owners should note to renew the insurance before the expiration date to ensure the continuity of the insurance.
The compulsory car insurance premium is specifically regulated by the Ministry of Finance according to each type of car and purpose of use. For example:
| Range of vehicle | Uses | Fee (VND/year) |
| Car under 6 seats | No transportation business | 437,000 |
| 6-11 seater car | Transport business | 756,000 |
| Car with over 11 seats | Transport business | 1,660,000 |
Note: Fees may change according to the latest regulations of the Ministry of Finance.
The insurance company will compensate the injured person directly.
Maximum compensation level according to current regulations:
Some reputable insurance companies in Vietnam:
Selection Criteria:
According to the Vietnam Insurance Association, motor vehicle insurance premium revenue (including both compulsory and voluntary) will reach about VND17,000 billion in 2023, an increase of 7% compared to 2022. The rate of cars participating in compulsory insurance is about 90% nationwide.
Compulsory car insurance is not only a legal obligation but also an effective financial protection measure for car owners and road users. Understanding and complying with the regulations on compulsory car insurance will help you avoid unnecessary risks and ensure your rights in case of an accident.
Remember, road safety is everyone's responsibility. Besides buying insurance, obeying traffic laws and driving safely is always the most important factor to protect yourself and those around you.
Is not. Compulsory car insurance Only covers third parties who are damaged. To protect themselves and their vehicles, car owners need to purchase additional voluntary insurance such as vehicle physical damage insurance.
Not required. Car owners have the right to choose the insurance company that suits their needs. However, many car dealers often offer preferential packages when buying insurance with the car. According to a 2023 survey, about 60% of new car owners choose to buy insurance from a car dealer due to convenience. You can read the article right away: Top 8 Experience in buying auto insurance Best shared on website.
The claims settlement process typically includes the following steps:
According to data from the Vietnam Insurance Association, the average time to resolve an auto insurance claim is 7-10 working days.
Yes. Many insurance companies now offer online insurance purchasing services. The process typically includes:
According to statistics, the rate of customers buying car insurance online has increased from 15% in 2020 to 35% in 2023.
To compare performance, you should:
According to a 2023 survey, the top three factors customers care about when choosing auto insurance are: price (3%), brand reputation (45%), and speed of claim settlement (30%).
Cars Care Service Price Sheet At Thanh Phong Auto HCMC VietNam:
* The cars that we have mechanics: Mercedes, BMW, Audi, Lexus, Toyota, Honda, Mazda, Mitsubishi, Kia, Daewoo, Hyundai,Ford, Nissan, Volkswagen, Porsche, Chevrolet, Rand Rover, Innova, Fortuner, Vios, Fiat, Bugatti, Ferrari, Bentley, Hummer , Chrysler, Dodge, Renault, Cadillac, Volvo, Subaru, Daihatsu, Ssangyong, Roll-Royce, Peugeot, Smart Fortwo, Tobe M'car, Luxgen, Zotye, Haima, Geely, Baic, Hongqi, Cmc, Mini Cooper, Buick, Opel, Acura, Aston Martin, Vinfast, TQ Wuling, BYD.
To keep your vehicle running properly at all times, we offer a number of services that are carried out by our certified, expert auto service and repair technicians who have years of experience performing everything from oil changes to a complete engine overhaul.
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