Hanoi Truck Insurance: Your Essential Guide

Mr. Nguyen Van Tuan, owner of a small grocery store in Hoan Kiem District, Hanoi, recently purchased a new Hyundai Porter truck to facilitate his goods transportation. He excitedly shared, “Since having this ‘companion,’ my business has become much smoother. I no longer have to struggle with hiring motorbike taxis for deliveries.”

However, when asked about compulsory car insurance, Mr. Tuan seemed quite hesitant: “Insurance? I’ve heard about it, but haven’t really looked into it. I think it’s mandatory, right?”

Mr. Tuan’s story reflects the concerns of many vehicle owners today. So, what is compulsory car insurance? Where can you buy it reliably? How much does it cost? Let HANOI TRUCK answer all your questions in the article below!

Compulsory Car Insurance in Hanoi: What You Need to Know

What is Compulsory Car Insurance?

Compulsory Motor Vehicle Liability Insurance, also known as compulsory car insurance, is a type of insurance required by law for all vehicle owners when their vehicles participate in traffic. This insurance protects the vehicle owner’s interests in case of accidents causing damage to third parties, covering both personal injury and property damage.

Benefits of Compulsory Car Insurance

• Avoid Administrative Penalties: According to regulations, vehicle owners without compulsory insurance will be fined from 400,000 to 600,000 VND for trucks.
• Protection in Case of Accidents: The insurance will cover compensation costs for personal injury and property damage to third parties as prescribed.
• Peace of Mind While Driving: With insurance, you will feel more secure while driving, without worrying about unexpected risks.

Where to Buy Reliable Compulsory Car Insurance?

You can purchase compulsory car insurance from reputable insurance companies such as Bao Viet Insurance, PVI Insurance, PTI Insurance… or directly at truck dealerships, including HANOI TRUCK.