Insurance company: advice on buying car insurance for newbie (Part 2)

In the previous article, we learn about 4 kinds of insurances offered by insurance company and what is public liability for goods on vehicles. In this article, we are learning more about other kinds of insurances.

Insurance company: advice on buying car insurance for newbie (Part 2)

Material damage insurance for vehicles

According to the statistics of insurance company, there are up to 70% of vehicle owners in Vietnam only buy insurance for the outside. This insurance should be applied for vehicles worth more than 1 billion VND. Most vehicle owners in Vietnam use medium priced car lines, so this kind of insurance is not popular.

When you register material damage insurance for vehicles at insurance company, you will be compensated for unexpected and out of control accidents: fire, explosion; flood, storm, lightning, earthquake; object from outside impacts the vehicle; Stolen, robbed the entire vehicle; accident risk due to other unexpected causes beyond the exclusions stipulated in the rules.

In addition, insurance company can pay for necessary and reasonable fees in order to:

- Prevent and reduce losses

- Towing fee

- Assessment of damage

The value of insurance will be based on the agreement between car owners and insurance company. Insurance company assesses the actual value of the vehicle at the time the vehicle owners register insurance.

Insurance for people on vehicles and those who support driving excludes following situations:

- The insured people cause accidents on purpose

- The insured people do not have legal driving license

- The driver use drugs or stimulants or the rate of alcohol in blood exceeds the rate allowed under law while they are driving.

- The insured people fight or fight a third party except for reasonable act of self-defense

- The insured people have health problems such as unexpected cold, etc. The insured people are poisoned with food, drink or drugs.