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Compulsory Car Insurance in Hanoi: What You Need to Know

LONG

09/02/2025

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Anh Tuan, a seasoned truck driver in Cau Giay, Hanoi, always took pride in his “money-making” truck. Each trip from Ha Dong to Bac Ninh, the truck was his trusted companion, helping him provide for his family. However, an unexpected incident left him worried. While transporting goods, his truck collided with a motorbike. Fortunately, the motorcyclist only suffered minor injuries, but the cost of repairing both vehicles gave Anh Tuan a headache. It was then that he remembered his compulsory car insurance policy, which he had just renewed. Thanks to the insurance, Anh Tuan was able to alleviate some of the financial burden, focus on his work, and continue his journey with his “money-making” truck.

Anh Tuan’s story highlights the importance of compulsory car insurance for every vehicle owner. So, what is compulsory car insurance, and how is it calculated? Let’s delve into the details with Xe Tai Ha Noi.

What is Compulsory Car Insurance?

Compulsory Motor Vehicle Liability Insurance (commonly known as compulsory car insurance) is a fee that vehicle owners must pay to an insurance company to be covered for civil liability while participating in traffic.

Benefits of Compulsory Car Insurance

Protection of Legitimate Rights: In the unfortunate event of an accident, compulsory car insurance will help you cover compensation for damage to people and property of third parties as prescribed by law.
Peace of Mind While Driving: You will have greater peace of mind knowing you have a solid financial safety net, avoiding unnecessary risks.
Fulfillment of Legal Obligations: According to the Road Traffic Law, all motor vehicle owners are required to purchase civil liability insurance.

Compulsory Car Insurance Fees in 2023

Note: Compulsory car insurance fees are regulated by the Ministry of Finance and may change periodically.

Compulsory Truck Insurance Fee Schedule

Frequently Asked Questions about Compulsory Car Insurance

1. How Long is Compulsory Car Insurance Valid?

Compulsory car insurance is typically valid for one year. You can choose to purchase insurance for a shorter term, such as 6 months or 3 months.

2. Are There Penalties for Forgetting to Pay Compulsory Car Insurance?

According to regulations, motor vehicle owners are not allowed to participate in traffic without compulsory car insurance. If caught by authorities, you will be fined from 400,000 VND to 600,000 VND for cars, and from 600,000 VND to 800,000 VND for trucks.

3. Where Can I Buy Reputable Compulsory Car Insurance?

You can purchase compulsory car insurance from reputable insurance companies such as Bao Viet Insurance, PTI Insurance, PVI Insurance,… or contact reputable truck dealers and auto repair shops for advice and support.

Buying Car Insurance in Hanoi

Buy Quality Trucks – Visit Xe Tai Ha Noi

Are you looking to buy a truck? Come to Xe Tai Ha Noi – the leading provider of quality and reputable trucks in Hanoi. We are committed to providing our customers with:

Quality products, diverse in models and types.
Competitive prices, many attractive offers.
Support for installment payments up to 70%, quick and easy procedures.
Professional and dedicated consulting staff.

Contact Xe Tai Ha Noi now for advice and to own your dream truck!

Conclusion

We hope this article has provided you with useful information about compulsory car insurance. Be a wise vehicle owner, always equipped with sufficient knowledge and choose the most suitable insurance package to protect your own interests and contribute to building a safe traffic environment. If you have any questions, please leave a comment below or contact us for answers.

Xe Tai Ha Noi – Your companion on every road!