Truck Insurance in Hanoi: What You Need to Know

The saying “better safe than sorry” always holds true, especially when driving a truck, which carries inherent risks. Besides honing safe driving skills, understanding truck insurance will provide peace of mind on every journey. So, what does this law stipulate? Let’s delve into the details with Hanoi Trucks!

What is Truck Insurance?

Truck insurance, also known as vehicle physical damage insurance, is a type of insurance where the vehicle owner (policyholder) pays a premium to an insurance company (insurer) to receive financial protection in case the vehicle suffers physical damage due to unexpected risks.

Truck Accident

Basic Content of Truck Insurance Law

Truck insurance law is stipulated in the Law on Insurance Business No. 22/2000/QH10 and its guiding documents, including:

Applicable Subjects:

• Insurance companies providing vehicle insurance in Vietnam.
• Vehicle owners participating in insurance.

Scope of Coverage:

The law clearly stipulates the cases where vehicles are eligible for compensation in the event of accidents or incidents such as:

• Accidents due to collisions with other vehicles or objects.
• Vehicle rollovers.
• Vehicle fires or explosions.
• Theft of vehicle parts or the entire vehicle.
• Other unexpected risks as specified in the insurance contract.

Rights and Obligations of the Insured:

• The right to choose an insurance company and an insurance package that suits their needs.
• Declare truthfully and fully information about the vehicle when participating in insurance.
• Timely notify the insurer when an incident occurs.
• Provide complete documents as required to receive compensation.

Rights and Obligations of the Insurer:

• Provide complete information about insurance products to customers.
• Settle compensation for customers in accordance with the provisions of the law and the signed contract.
• Protect customer information.

Refrigerated Truck in Hanoi

Frequently Asked Questions about Truck Insurance

1. Can trucks carrying construction materials participate in physical damage insurance?

Yes. Truck insurance law does not restrict the type of vehicle that can participate in insurance.

2. How is the truck insurance premium calculated?

The truck insurance premium is calculated based on several factors such as vehicle type, vehicle value, year of manufacture, scope of coverage, and area of operation.

For example, Mr. Tuan in Cau Giay District, Hanoi wants to buy physical damage insurance for his newly purchased Hyundai H150 truck. He can contact Hanoi Trucks directly or reputable insurance agents for advice and the most accurate quote.

3. What is the procedure for receiving truck insurance compensation?

In the event of an incident, the vehicle owner needs to:

• Protect the scene and immediately report to the nearest police station.
• Notify the insurance company within 24 hours.
• Prepare complete documents as required by the insurance company.

Where to Buy Reputable and Quality Trucks in Hanoi?

If you are looking for a reputable and quality truck dealer in Hanoi, Hanoi Trucks is the leading choice. We offer a wide range of trucks from famous brands such as Hyundai, Isuzu, Hino,… at the most competitive prices in the market.

In addition, Hanoi Trucks also provides the following services:

• Truck insurance: Consulting and providing vehicle physical damage insurance, compulsory civil liability insurance,… from reputable insurance companies.
• Accessory installation: Installing GPS trackers, dashcams, truck beds,…
• Repair and maintenance: Providing professional and reputable truck repair and maintenance services.

Contact Hanoi Trucks now:

• Hotline: 0987.654.321
• Address: No. 1, Giai Phong Street, Hai Ba Trung District, Hanoi.

Conclusion

Hopefully, this article has provided you with useful information about truck insurance law. Thoroughly understanding insurance laws will help you protect your rights when participating in insurance and using your vehicle safely and efficiently.

Truck Financing

For detailed advice on truck insurance, please contact Hanoi Trucks or leave a comment below. Don’t forget to visit our website xetaihanoi.edu.vn for the latest information on trucks and related services.