Experiences when buying cars insurance - the voluntary insurance types

Besides the compulsory cars insurance, vehicle owners can buy voluntary insurance services other to contribute to reducing the harmful effects of the accident cases, theft ...

But the choice of insurance packages, the any reputable insurance company and in accordance with the conditions of use of your vehicle, the vehicle owner does not know.

On the auto insurance market today there are 4 types of insurance that the customer when purchasing the car can participate in most insurance companies, including:

- Compulsory insurance of civil liability of motor vehicle owners for a third person (Required)

- Civil liability insurance of vehicle owners for goods transported on vehicles (Voluntary)

- Physical damage insurance of motor vehicles (Voluntary)

- Insurance of passengers and other drivers car accidents (Voluntary)

Of these, compulsory insurance of civil liability of motor vehicle owners for a third person is the type that all individuals and organizations (including foreign individuals), car ownership in Vietnam forced to participate as prescribed by the state, to ensure the rights of third parties if the unfortunate car owner, driver, causing damage to them. This type does not just apply to cars but to be applied even with the motorcycle - means potentially cause accidents (extreme danger, according to the authorities).

>> Read more: 6 Cars Insurance Services That You Must Have

3 types of insurance remaining entirely voluntarily by the customer according to content agreements with insurance companies:

- Type of material insurance (hull) cars are all fairly common used car, the insurance company will compensate the material damage caused by car crashes unexpectedly, beyond the control of vehicle owners , driving in the case of a collision, subversion, fires, explosions, accidents caused by natural force majeure (storms, floods, landslides, lightning, earthquakes, hail, took the whole car).

Basically, the auto insurance company's insurance carriers have the form and terms of similar, based on Decision No. 23/2007 / QD - TC issued by the Finance Ministry. According to statistics from the insurance company in Vietnam, up to 70% of customers used car buy insurance only for car body shells.

However, auto insurance customers often ignore a very important procedures, such as contract terms between vehicle owners and insurance companies. One of the reasons that caused the controversy and litigation that was the car insurance contract provisions are not clear, the insurance process. Nguyen Thuong, in charge of Business Insurance Postal Service said, the majority of customers are not or are interested in the conditions of contract terms: as overdue registration, improper use of vehicle registration purposes, accidents while driving without insurance by B2 or missing parts need insurance...

Therefore, to avoid possible inadvertent detriment later on, before you buy insurance, you should carefully study the items in the contract and consider the expansion of coverage. Also, you should consider the following criteria:

First, cost, price, existing insurance companies are competing in terms of price and quality. Consider what coverage rates fit your budget best. Carefully read the terms of insurance contracts. When incidents occur, keep the scene and immediately contact the insurance company to settle.

Second, on compensation. You learn through friends and the media to know the services your company's compensation Interested quick, convenient, accurate or not.

Third, the service. You should choose the insurance company, or reputable garage and convenient for travel and repairs as well as find out the level of cooperation of the insurance company for the garage, avoid going back several times because of cumbersome procedures.

The cases are often excluded insurance:

- Acts of deliberately damaging the vehicle owner, driver or of the victims.

- Driving accidents, intentionally ran not perform civil liability of vehicle owners, driving a motor vehicle.

- Driving without a valid driver's license.

- Damage caused indirect consequences such as reduced commercial value, damage associated with the use and exploitation of property damage.

- Damage to property stolen or robbed in accidents.

- War, terrorism, earthquakes.

- Damage to the special assets including gold, silver, precious stones, money, the papers of monetary value, antiques, rare pictures ...

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