Compulsory Motor Insurance
Owners of vehicles running on roads within the territory of the Socialist Republic of Vietnam
Scope of Coverage
Loss of life, injuries 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 contract caused by the vehicle.
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 loss of life or bodily injury caused by a two or three wheeled motorcycle, or any similar motor vehicle (including motor vehicles for people with disabilities) is VND100,000,000/person/accident.
The limit of liability for property damage caused by a two or three wheeled motorcycle, or any similar motor vehicle (including motor vehicles for people with disabilities) is VND50,000,000/accident.
Circular No. 22/2016/TT-BTC dated February 16, 2016.