Hanoi Truck Owner’s Guide to Auto Liability Insurance

Anh Tuan, owner of a small truck used for hauling construction materials in Hoang Mai District, Hanoi, recently had an unfortunate accident. While transporting goods from Thanh Cong Building Materials (near Times City) to a construction site in Ecopark, his truck scraped against a motorbike. Fortunately, no one was injured, but the motorbike sustained minor damage.

This incident reminded Anh Tuan that he had recently purchased third-party liability (TPL) insurance for his truck. Would the insurance cover this situation? How are truck insurance premiums calculated? A series of questions flooded his mind…

Anh Tuan’s story reflects the concerns of many truck owners when participating in traffic. So, what is the auto liability insurance fee schedule? How do you choose the right insurance package? Let’s explore this topic in detail with Hanoi Trucks.

Minor truck collision with a motorbike

Auto Liability Insurance: Concept and Role

What is Auto TPL Insurance?

This is a mandatory type of insurance for all car owners in Vietnam, as stipulated by the Law on Compulsory Civil Liability Insurance of Motor Vehicle Owners. When participating in TPL insurance, the vehicle owner will be financially protected in the unfortunate event that their vehicle causes an accident, resulting in damage to people and property of a third party.

The Role of TPL Insurance

Auto TPL insurance is not only a legal obligation but also a financial “shield” protecting you and the community.

According to expert Nguyen Van An (lecturer at the University of Transport): “TPL insurance helps reduce the financial burden on vehicle owners in the event of an accident. At the same time, it contributes to ensuring social security and sharing risks with the community.”

Truck Liability Insurance Fee Schedule

Truck TPL insurance premiums are calculated based on various factors such as:

• Vehicle Type: Van trucks, light trucks, heavy trucks,…
• Payload: Trucks with larger payloads have higher premiums.
• Purpose of Use: Commercial transportation, cargo transportation,…
• Operating Area: Vehicles operating in major cities will have higher premiums compared to those in rural areas.
• Number of Seats: Applicable to van trucks and pickup trucks with 5-9 seats.

You can refer to the latest truck liability insurance fee schedule on the websites of reputable insurance companies such as PVI Insurance, Bao Viet Insurance, PTI Insurance,…

Insurance consultant advising on truck insurance

Important Notes on Truck TPL Insurance

• Choose the Right Insurance Package: Depending on your usage needs and financial capabilities, you can choose a basic TPL insurance package or add other insurance clauses such as vehicle damage insurance, passenger accident insurance,…
• Purchase Insurance from Reputable Sources: It’s recommended to purchase insurance from authorized truck dealers, reputable insurance companies, or through the official website of the insurance company.
• Carefully Review the Insurance Contract: Before signing the contract, you should carefully read the terms and conditions of the insurance to avoid unnecessary disputes later.

Frequently Asked Questions about Truck TPL Insurance

1. What is the procedure for purchasing truck TPL insurance?

It’s very simple! You just need to prepare your vehicle registration papers and your ID card/Citizen ID. Then, contact a truck dealer or insurance company for specific instructions.

2. Does insurance cover accidents when the truck is overloaded?

This depends on each insurance company and the specific terms in the contract. Typically, insurance will not cover accidents if the truck exceeds the permitted payload.

3. What to do in case of an accident?

In the event of an accident, you need to calmly handle the situation, immediately call the authorities and the insurance company for timely assistance.

Where to Buy Trucks in Hanoi?

If you are looking to learn more about or purchase a truck, contact Hanoi Trucks – a leading provider of quality and reputable trucks in the market.

We offer a wide range of trucks from famous brands such as Hyundai, Hino, Isuzu,… to suit all customer needs. In particular, Hanoi Trucks has a wide network of dealers across districts in Hanoi such as Cau Giay, Long Bien, Ha Dong,… making it easy for customers to access and choose their desired products.

In addition, Hanoi Trucks also provides consulting services for TPL insurance and other types of motor vehicle insurance with the most preferential rates.

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Besides trucks, Hanoi Trucks also distributes specialized vehicles such as dump trucks, tractor trucks, and crane trucks,…

Conclusion: Hopefully, through this article, you have a better understanding of the auto liability insurance fee schedule and important notes when purchasing TPL insurance for trucks. Be a wise vehicle owner and choose the right insurance package to protect your own interests and contribute to building a safe traffic society.