COMPULSORY THIRD-PARTY INSURANCE OF VEHICLE’S OWNER – MIC

Insurance objects

Owners of motor vehicles participating in traffic in the territory of the Socialist Republic of Vietnam.

Motor compulsory insurance

The motor vehicle owner is reimbursed for the actual expenses to overcome the consequences for a third party in excess of the compulsory insurance premiums for motor vehicle owners as prescribed by the Ministry of Finance. The basis of the voluntary level of voluntary ownership of motor vehicles is voluntary participation.

Other rule compulsory insurance

Owners of motor vehicles participating in compulsory insurance for motor vehicle owners according to regulations of the Ministry of Finance and still valid.
Apply in accordance with Circular 22/2016 / TT-BTC.
Insurance benefits arise only when the amount of compensation exceeds the liability of the Carrier’s Compulsory Insurance of Car Insurance.
Automobiles must have valid and valid certificates of inspection of technical safety and environmental protection of land-road motorized traffic means.

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