Purchasing truck insurance is mandatory for all vehicle owners in Vietnam. Third-Party Liability (TPL) insurance for trucks helps protect the interests of third parties in the event of an accident. So, what is the cost of truck insurance? And where can you buy it reliably? This article will answer these questions in detail.
Third-Party Liability Truck Insurance Costs
According to Circular 04/2021/TT-BTC, the compulsory TPL insurance fee for trucks is regulated based on vehicle weight. This fee applies to a 1-year insurance period and does not include 10% VAT. Specifically, the fees are as follows:
| Vehicle Weight | Fee (VND) |
|---|---|
| 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 |
Reputable Places to Buy Truck Insurance
To ensure your benefits and avoid penalties when participating in traffic, you should buy truck insurance from reputable insurance companies. Here are some suggestions for you:
- Purchase directly: You can go directly to the headquarters or branches of insurance companies such as Bao Viet Insurance, BIC Insurance, MIC Insurance, etc., or insurance agents, banks, and gas stations that have partnerships.
- Purchase online: Buying insurance online is becoming increasingly popular and convenient. You can purchase TPL insurance for trucks through mobile applications such as Grab, Lazada, Viettel Pay, Momo, or the official websites of insurance companies.
Consequences of Not Buying Truck Insurance
According to the 2008 Law on Road Traffic, truck drivers must have a valid TPL insurance certificate. If you do not purchase insurance, you will be penalized according to Decree 100/2019/ND-CP (amended and supplemented by Decree 123/2021/ND-CP) with a fine ranging from VND 400,000 to VND 600,000.
Conclusion
Buying truck insurance is not only a legal obligation but also a way to protect your finances and others. Hopefully, this article has provided you with the necessary information about the costs and reputable places to buy truck insurance. Choose a suitable insurance provider and comply with legal regulations to have peace of mind when participating in traffic.
