Car Insurance Procedures: A Comprehensive Guide

Mr. Ba, the owner of a grocery store on Hang Buom Street, recently purchased a brand new Hyundai Mighty truck to facilitate goods transportation. Following the salesperson’s advice, he decided to purchase comprehensive insurance for his “beloved vehicle” directly from the dealership. However, just a few months later, when Mr. Ba’s truck unfortunately grazed a motorbike on Nguyen Trai Street, he was shocked to realize he hadn’t completed all the necessary procedures to receive an insurance payout.

Mr. Ba’s story serves as a valuable lesson for many when purchasing car insurance. So, what exactly are the car insurance procedures? How can you choose the right insurance package and avoid unnecessary risks? Let’s delve into the details with Hanoi Trucks in this article.

Car Insurance Procedures: What You Need to Know

1. Common Types of Car Insurance

Currently, there are two common types of car insurance: mandatory and voluntary:

• Compulsory Third Party Liability Insurance (TPL): This is mandatory for all motor vehicle owners participating in traffic. This insurance covers damages to people and property caused by the vehicle to a third party.
• Physical Damage Insurance (Comprehensive): This is voluntary insurance that protects your own vehicle. In the event of an accident, the insurance will cover the cost of repairing or replacing damaged parts due to accidents, collisions, fires, natural disasters, etc.

2. Car Insurance Purchase Procedures

Step 1: Choose a Suitable Insurance Company and Package

You can refer to reputable insurance companies such as PTI Insurance, Bao Viet Insurance, PVI Insurance… Each insurance company offers different insurance packages with varying fees and benefits.

Expert Advice:

“Choose an insurance package that suits your vehicle usage needs and financial capabilities. Don’t just focus on low premiums while overlooking important benefits.” – Mr. Nguyen Van A, Motor Vehicle Insurance Expert.

Step 2: Prepare the Necessary Documents

Documents required for purchasing car insurance include:

• Vehicle Registration Certificate (photocopy)
• Citizen Identity Card/ID Card (photocopy)
• Other documents as required by the insurance company (if any)

Step 3: Sign the Insurance Contract

After completing the documentation, you will proceed to sign the insurance contract with the insurance company or agent.

Step 4: Pay the Insurance Premium

You can pay the insurance premium in cash or by bank transfer.

Step 5: Receive the Electronic Insurance Certificate

After completing the purchase procedure, you will receive an Electronic Insurance Certificate via email or SMS.

3. Reporting and Claim Procedures in Case of an Incident

Step 1: Secure the Scene and Immediately Report to the Police

Step 2: Notify the Insurance Company Within 24 Hours from the time of the incident.

Step 3: Prepare the Claim Documents as instructed by the insurance company.

Truck Accident

Car Insurance Price List for Reference

Note: Actual insurance premiums may vary depending on the vehicle type, year of manufacture, area of circulation…

Important Notes When Purchasing Car Insurance

• Carefully review the terms and conditions in the insurance contract before signing.
• Choose a reputable insurance company with good customer service.
• Keep the Insurance Certificate carefully.
• Renew your insurance before it expires.

Car Insurance Documents

Frequently Asked Questions About Car Insurance Procedures

1. Can I purchase car insurance in installments?

Yes. Currently, many insurance companies and banks offer car insurance installment plans with preferential interest rates.

2. After purchasing car insurance, can I change the information on the contract?

Yes. You can contact the insurance company to request changes to the information on the insurance contract.

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

You need to contact the insurance company and provide all necessary claim documents as instructed.

Purchase Reputable and Affordable Truck Insurance at Hanoi Trucks

As a specialized provider of genuine trucks, Hanoi Trucks is also a trusted partner of many reputable insurance companies. We are committed to providing our customers with the best truck insurance consulting and purchasing services with:

• A team of professional consultants with in-depth knowledge of the insurance market.
• Support in comparing insurance packages from various insurance companies.
• Fast and transparent procedures.