Cars are one of the most valuable physical assets for most car owners. Therefore, participating in many types of insurance is also one of the best ways to give them some peace of mind with their assets. So where is the insurance responsible to pay compensation for the case you are stolen, the car is stolen? Join us to find answers through the article below about Top 5 notes to know about auto insurance for theft and theft.
Top 5 Notes to Know About Steal and Stolen Auto Insurance
1. Civil liability insurance does not compensate for stolen or stolen cars
As we all know, 100% of car buyers are required to participate in civil liability insurance. However, you need to know that the scope of liability of this insurance does not compensate for the case of stolen, stolen cars.
The insurance terms are clearly stated, the cases of compensation payment include:
- The loss of life caused by motor vehicles is VND 100 million / person / case.
- Property damage due to 2-wheel motorcycles, 3-wheel motorcycles, mopeds, similar motor vehicles is VND 50 million / case.
- Damage to property caused by cars, motorcycles, tractors, special-use vehicles used for national defense and security purposes, to compensate VND 100 million / case.
Exclusion of cases:
- Intentional action to cause damage.
- Drivers who cause accidents intentionally flee without civil liability.
- Damage caused indirect consequences.
- Damages caused by wars, natural disasters.
- Driving without a license.
- Property damage due to theft, theft after incidents or accidents.
Thus, if you want to be paid or compensated for the case of stolen or stolen cars, you must join other types of insurance besides civil liability insurance.
2. 2-way physical insurance to pay compensation for car theft and theft
Not compulsory insurance, but many consulted should choose 2-way physical insurance when buying a car. With this type of insurance, you not only get 2-way compensation after an accident caused by you or another person but also cover the case of a lost car.
In the provision of 2-way physical insurance, there are also cases of payment and compensation:
- Vehicle damage due to unexpected accident or unintended incident such as collision, heavy objects falling in or due to natural disasters.
- Lost the whole car in case of theft, theft.
Particularly, in cases where the vehicle owner does not report to the insurance company, compensation will not be paid according to the contractual terms.
Suggested references: Information about compulsory and voluntary auto insurance
3. Which case will be compensated for the entire loss when the car is stolen or stolen
According to the 2-way physical insurance you join, you can also be compensated for all losses when a car is stolen or stolen.
Specifically, the case of a car being stolen or stolen must be concluded by investigation authorities. If there are no results, there must be a decision to suspend the investigation or suspend the investigation of the theft or theft.
However, the company is only responsible for compensating the vehicle owner according to the amount of insurance certificate stated. The level of compensation will not exceed the value of the vehicle on the market at the time of theft or theft.
4. Buy insurance at reputable companies to ensure benefits
The same type of insurance, the same scope of responsibility, but not sure which company can easily make compensation when the car owner has a problem. That is why you should definitely choose reputable insurance companies.
Currently, on the market there are many companies providing auto insurance with many attractive programs to attract customers. However, there are only a few companies that have a reputation and work professionally including PIJICO, PTI, Liberty, PVI, ...
Suggested references: 4 things to keep in mind when buying car body insurance
5. Pay attention to insurance terms and costs
The final note for you is to pay close attention to the terms of the insurance policy and the cost of participation.
Regarding terms, it is necessary to ask staff about the case of payment of compensation for incidents of stolen or stolen cars so that they can be easily handled when necessary.
Regarding the cost of participating in insurance, each vehicle will have a different fee, you should ask to consult the price list before.
The above-mentioned notes about auto insurance for theft and theft must have helped you to have more information for yourself. Do not forget to save and share with relatives and friends to get the app when needed!
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