Truck Insurance in Hanoi: What You Need to Know

“Better safe than sorry” – this age-old saying holds true in all circumstances, especially when it comes to road safety. Besides safe driving practices, purchasing truck insurance is essential for peace of mind and minimizing financial risks in case of unforeseen accidents. So, what are the current regulations regarding truck insurance? Let’s delve into the details with Hanoi Truck!

What is Truck Insurance?

Truck insurance, a type of vehicle insurance, protects your truck against unexpected risks such as accidents, collisions, fires, and natural disasters. If your truck experiences an incident covered by the policy, the insurance company will cover the repair and replacement costs as stipulated in the insurance contract.

Why Should You Buy Truck Insurance?

Mr. Nguyen Van A, owner of a transportation company in Long Bien District, Hanoi, shared: “Since buying my Hyundai H100 truck, I’ve always purchased truck insurance. Last year, my truck was involved in an accident on the Ho Chi Minh Highway and was severely damaged. Thanks to the insurance, I received a significant compensation, easing the financial burden.”

Mr. A’s story clearly demonstrates the importance of truck insurance. It not only provides peace of mind while driving but also:

• Minimizes financial risks in case of unforeseen accidents.
• Ensures the stable operation of your business, preventing disruptions due to truck incidents.
• Saves on repair and replacement costs in case of accidents.

Truck involved in a collision

Truck Insurance Regulations

Types of Truck Insurance

Currently, there are two common types of truck insurance:

• Compulsory Motor Vehicle Liability Insurance (TNDS): This is mandatory for all motor vehicles participating in traffic, including trucks.
• Voluntary Vehicle Damage Insurance: This type of insurance is not mandatory but is chosen by many truck owners to enhance protection for their vehicles.

Insurance Liability Limits

The insurance liability limit is the maximum amount the insurance company will pay in case of an incident covered by the policy. For voluntary vehicle damage insurance, there are different liability limits, usually calculated based on the vehicle’s value.

Covered and Non-Covered Cases

Covered Cases:

• Accidents, collisions, rollovers.
• Fires, explosions.
• Natural disasters such as storms, floods, earthquakes.
• Theft of parts or the entire vehicle.

Non-Covered Cases:

• Damage due to natural wear and tear.
• Damage due to intentional acts of the owner.
• Damage due to participation in racing or gambling.
• Damage due to exceeding the permitted load capacity.

Truck Insurance Purchase Procedure

To purchase truck insurance, you need to prepare the following documents:

• Vehicle registration certificate.
• Citizen Identity Card/ID card of the vehicle owner.

You can purchase insurance directly from insurance companies or through truck dealers like Hanoi Truck.

Insurance consultant

Frequently Asked Questions about Truck Insurance

Where to Buy Reputable Truck Insurance?

You can purchase truck insurance from reputable insurance companies such as PVI Insurance, Bao Viet Insurance, PTI Insurance… or at truck dealerships like Hanoi Truck.

How Long is Truck Insurance Valid?

Truck insurance is typically valid for one year. You can renew your insurance before it expires.

What to Do in Case of an Accident to Receive Insurance Coverage?

In case of an accident, you need to:

1. Secure the scene and immediately report to the nearest police station.
2. Notify the insurance company within 24 hours for guidance.
3. Prepare all necessary documents as required by the insurance company.

Conclusion

Truck insurance is crucial for peace of mind while driving and minimizing financial risks in case of unforeseen incidents. We hope this article has provided valuable information about truck insurance regulations. If you have any questions, please contact Hanoi Truck for detailed advice.