The certificate of civil liability insurance belongs to the indispensable documents when participating in traffic by motorbikes and cars. How much is the required car insurance premium and is there a penalty if you do not have compulsory insurance? In this article, LSX legal firm will provide you with information regarding: “Where to buy compulsory car insurance in Vietnam?”
Legal ground
- Circular 04/2021/TT-BTC
The fees for compulsory car insurance
Compulsory insurance premium for civil liability within 01 year for types of car according to Appendix I of Circular 04/2021/TT-BTC:
| Car | Insurance fee |
| Cars not for transportation business | |
| Cars with less than 6 seats | 437.000 |
| Cars from 6 to 11 seats | 794.000 |
| Cars from 12 to 24 seats | 1.270.000 |
| Cars with more than 24 seats | 1.825.000 |
| Cars carrying both people and goods (Pickup, minivan) | 437.000 |
| Cars for transport business | |
| Under 6 seats according to registration | 756.000 |
| 6 seats according to registration | 929.000 |
| 7 seats according to registration | 1.080.000 |
| 8 seats according to registration | 1.253.000 |
| 9 seats according to registration | 1.404.000 |
| 10 seats according to registration | 1.512.000 |
| 11 seats according to registration | 1.656.000 |
| 12 seats according to registration | 1.822.000 |
| 13 seats according to registration | 2.049.000 |
| 14 seats according to registration | 2.221.000 |
| 15 seats according to registration | 2.394.000 |
| 16 seats according to registration | 3.054.000 |
| 17 seats according to registration | 2.718.000 |
| 18 seats according to registration | 2.869.000 |
| 19 seats according to registration | 3.041.000 |
| 20 seats according to registration | 3.191.000 |
| 21 seats according to registration | 3.364.000 |
| 22 seats according to registration | 3.515.000 |
| 23 seats according to registration | 3.688.000 |
| 24 seats according to registration | 4.632.000 |
| 25 seats according to registration | 4.813.000 |
| More than 25 seats | [4.813.000 + 30.000 x (number of seats – 25 seats)] |
| Cars carrying both people and goods (Pickup, minivan) | 933.000 |
| Cargo trucks | |
| Under 3 tons | 853.000 |
| From 3 to 8 tons | 1.660.000 |
| Over 8 to 15 tons | 2.746.000 |
| Over 15 tons | 3.200.000 |
| Driving practice car | 120% of the same type of vehicle fee |
| Taxi | 170% of the business vehicle fee with the number of seats |
| Specialized cars | |
| Ambulance | 1.119.000 |
| Other special-use vehicles with design tonnage regulations | 120% Insurance premiums for cargo trucks of the same tonnage |
| Other special-use vehicles without design tonnage regulations | 1.023.600 |
| Tractor | 4.800.000 |
| Bus | Calculated according to the insurance premium of the non-transport vehicle with the same seat |
Where to buy compulsory car insurance?
According to Clause 3, Article 18 of Decree 03/2021/ND-CP, at the request of the Traffic Police, the vehicle driver must present a valid Certificate of Insurance in the form of a hard copy or an electronic copy.
To own paper-based compulsory car insurance, car owners need to go directly to the following places to buy insurance:
– Insurance company headquarters.
– Insurance distribution agent.
– Bank.
– Gas station.
Car owners can buy the electronic version of compulsory car insurance at:
- Applications: Momo, Lazada, Grab, Viettelpay, or the insurance companies own applications (LIAN-INSURANCE 24/7, Bao Minh online, Baoviet Direct, MyVNI Client,….)
- Official website of reputable insurance companies.
After successful payment, the system will automatically send the compulsory car insurance certificate electronically to the customer’s email or zalo account. If the Traffic Police ask to check the documents, the car owner only needs to present the electronic version on the phone.
Not buying compulsory car insurance
Point d, Clause 2, Article 58 of the Law on Road Traffic 2008 clearly states that one of the conditions for a driver to participate in traffic is to have a certificate of civil liability insurance of the motor vehicle owner.
“4. A fine of between VND 400,000 and VND 600,000 shall be imposed for one of the following violations:
b) Drivers of automobiles, tractors, and cars-like vehicles without or without carrying a valid certificate of civil liability insurance of the motor vehicle owner;”
Accordingly, car owners who do not buy compulsory civil liability insurance will be fined from 400,000 to 600,000 VND.
Certificate of compulsory civil liability insurance of motor vehicle users
Certificates of compulsory civil liability insurance of motor vehicle users are proof of concluding compulsory civil liability insurance contracts between motor vehicle users and insurance enterprises. Each motor vehicle shall be issued with 1 certificate of insurance. Motor vehicle users whose certificates of insurance are lost must request insurance enterprises (which have previously issued the lost certificates of insurance) in writing to reissue certificates of insurance.
Upon purchasing compulsory civil liability insurance of motor vehicle users, motor vehicle users shall be issued with certificates of insurance by insurance enterprises. Insurance enterprises shall only issue certificates of insurance for motor vehicle users if the motor vehicle users have adequately paid insurance premiums or agreed with the insurance enterprises on deadline for paying insurance premiums according to Ministry of Finance.
In case of issuance of electronic certificates of insurance, insurance enterprises must comply with Law on Electronic Transactions and guiding documents; Electronic certificates of insurance must closely comply with applicable regulations and law.
Contents of certificate of compulsory civil liability insurance of motor vehicle users
- Firstly, the name, address, and phone number (if any) of motor vehicle users.
- Secondly, license plate or chassis number, engine number.
- Thirdly, type of vehicle, payload, number of seats, and use purpose in case of automobiles.
- Fourthly, the name, address, and hotline number of insurance enterprises.
- Fifthly, civil insurance liabilities for third party and passengers.
- Responsibilities of motor vehicle users and operators in case of accidents.
- Insurance duration, insurance premiums, and payment deadline of insurance premiums.
- Date of issue of certificates of insurance.
- Lastly, number code and barcode registered, managed, and used according to Ministry of Science and Technology to enable storage, transmission, and extraction of ID information of insurance enterprises and basic contents of certificates of insurance.
Legal service of LSX Legal Firm
LSX legal firm provides legal services to clients in various legal areas. To make your case convenient, LSX will perform:
- Legal advice related to new regulations;
- Representing in drafting and editing documents;
- We commit the papers to be valid, and legal for use in all cases;
- Represent to submit documents, receive results, and hand them over to customers.
With a team of experienced, reputable, and professional consultants; The firm is always ready to support and work with clients to solve legal difficulties.
Furthermore, using our service, you do not need to do the paperwork yourself; We guarantee to help you prepare documents effectively and legally.
Also, you will not have to waste time preparing the application, submitting application, or receiving results. At those stages, we will help you do it smoothly.
After all, LSX provides the service with the desire that customers can experience it the best way. Additionally, we guarantee the cost to be the most suitable and economical for customers.
Contact LSX
Finally, hope this article is useful for you to answer the question about “Where to buy compulsory car insurance in Vietnam?”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
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Related questions
Excise tax, an indirect tax, levied on a number of luxury goods and services in order to regulate production, import, and social consumption. At the same time, this kind of tax strongly regulates the income of consumers. Also, contributes to increased revenue for the State Budget, strengthening production and business management of taxable goods and services.
This tax is submitted by the establishments that directly produce the goods, but the consumers are responsible to pay for the tax because the tax is added to the selling price.
Car insurance is a method of protecting a group of people, property, and related transported goods from possible risks or losses. When the drivers participate in traffic and face a risk, the insurance company will pay for damages to the body, life, and property in accordance with the signed contract.
According to Circular No. 04/2021/TT-BTC, the insurance of life is 150 million VND/person/time; and property damage at 100 million VND/case.
The effective date of the policy is specified on the insurance certificate. During the validity period, if the car owner transfers ownership to the new car owner, all related insurance benefits are still valid.
Conclusion: So the above is Where to buy compulsory car insurance in Vietnam?. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
