Compulsory Car Insurance in Vietnam: A Guide for Smart Owners

Everyone has heard the saying, “Better safe than sorry.” Just like people, your truck, your loyal companion on the road, deserves the best protection. Besides regular maintenance, having insurance coverage is the best way to show care for and protect your vehicle. So, what about compulsory car insurance costs? Let’s delve into the details with Hanoi Trucks.

What is Compulsory Car Insurance?

Compulsory car insurance, also known as compulsory Third Party Liability (TPL) insurance, is a fee that vehicle owners must pay to an insurance company to be covered for civil liability when participating in traffic. Simply put, if an accident occurs due to your vehicle, the insurance will cover the costs of compensating for damage to people and property of the third party.

Latest Compulsory Car Insurance Price List

Note:

• The above prices are for reference only and may vary depending on the time and insurance company.
• To know the exact insurance price for your vehicle, please contact reputable insurance agents directly or visit their official website.

Important Notes When Buying Compulsory Car Insurance

Do’s:

• Choose a reputable insurance company: Consult friends, relatives, or research information about insurance companies in the market.
• Compare prices and benefits: Each insurance company will have different insurance packages and prices. Compare carefully to choose the package that best suits your needs.
• Read the insurance contract carefully: Before signing the contract, make sure you understand the terms, regulations, and your benefits.

Don’ts:

• Avoid buying cheap insurance: Many people are tempted by cheap insurance from unreliable sources. This poses many risks, as you may not be compensated in the event of an incident.
• Declare information honestly: Misrepresentation of information may result in your claim being denied or penalized according to regulations.

A 3.5 ton dump truck driving on a paved road.

Frequently Asked Questions about Compulsory Car Insurance

1. Where can I buy compulsory TPL insurance for a 3.5 ton dump truck?

You can buy compulsory TPL insurance for a 3.5 ton dump truck at reputable insurance companies such as PJICO Insurance, Bao Viet Insurance, PTI Insurance,… or contact Hanoi Trucks directly for advice and support.

2. How much does insurance cost for a 1.5 ton truck?

The insurance price for a 1.5 ton truck will range from 540,000 – 640,000 VND depending on the insurance company and the package you choose.

A 1.5 ton truck driving on a highway.

3. Does compulsory TPL insurance compensate for damage to my own vehicle?

Compulsory TPL insurance only compensates for damage to people and property of the third party, not including damage to your own vehicle.