Compulsory car insurance

Compulsory car insurance

DETAILS

Eligibility

Owners of vehicles running on roads within the territory of the Socialist Republic of Vietnam

Scope of Coverage

  • Loss of life, bodily injury or property damage other than those specified in the policy to any third party caused by the vehicle.

  • Loss of life and bodily injury sustained by any passenger under the passenger transportation contractcaused by the vehicle

Insurance Benefits

The limit of liability is the maximum amount payable by the insurer in respect of loss of life, bodily injury or property damage sustained by any third party or passenger caused by the vehicle in each accident as covered by this insurance. In particular:

  • The limit of liability for property damage caused by cars, tractors, construction motorcycles, agricultural and forestry motorcycles and other specialized vehicles used for security and national defense purposes (including trailers and semi-trailers pulled by cars or tractors) is VND100,000,000/person/accident.

  • The limit of liability for property damage caused by cars, tractors, construction motorcycles, agricultural and forestry motorcycles and other specialized vehicles used for security and national defense purposes (including trailers and semi-trailers pulled by cars or tractors) is VND100,000,000/accident.

Click the link below to view/download the following circular:
Circular No. 22/2016/TT-BTC dated February 16, 2016.