APPLIED OBJECT

1. Motor vehicle owners participating in traffic and operating within the Socialist Republic of Vietnam territory in terms of compulsory civil liability insurance by motor vehicle owners.
2. Insurer permitted to implement compulsory civil liability insurance of motor vehicle users as per the law.
3. Agencies, organizations and individuals related to implementation of compulsory civil liability insurance of motor vehicle users.

COVERAGE 

1. Non- contract loss of health, life and property damage to third parties caused by motor vehicle participating in traffic and acting.
2. Loss of health, life to passengers in that motor vehicle caused by motor vehicle participating in traffic and acting.

LIMIT OF LIABILITY

Limit of liability is the maximum amount that Phu Hung shall pay for loss of health, life and property of third parties and passengers caused by motor vehicles in each accident within scope of compensation for damage. In particular:

1. For a loss of health, life caused by motor vehicles: VND 150,000,000/1 person/1 accident.
2. For a loss of property caused by two-wheel motorcycles; three-wheel motorcycles; motorcycle (including electric motorcycles) and similar vehicles according to Law on Road Traffic: VND 50,000,000 VND/1 accident.
3. For a loss of property caused by automobiles; tractors; trailers or semi- trailers towed by automobiles, tractors according to Law on Road Traffic: VND 100,000,000/1 accident.

EXCLUSION

Phu Hung does not compensate in the following cases:

1. Damage done intentionally by motor vehicle owners, motor vehicle operators or victims of the accidents.
2. Vehicle operators intentionally fleeing the scene after committing accidents without exercising civil liabilities of motor vehicle owners. Vehicle operators intentionally fleeing the scene after committing accidents and exercising civil liabilities of motor vehicle owners shall not be insurance exclusions.
3. Operators who fail to satisfy requirements of age range to operate motor vehicles as per regulations in the Law on Road Traffic; operators who do not carry legitimate, proper driving licenses according to regulations of laws on training, testing and granting driving licenses, or carry damaged driving licenses or use expired driver's licenses at the points of time when accidents occur or carry inappropriate driving licenses when operating motor vehicle which require specific driving licenses. In case driving licenses of operators are revoked or suspended, operators are considered not carrying driving licenses.
4. Damage that causes indirect consequences including: reduced commercial value, damage related to use and utilization of damaged property.
5. Damage to property caused by operators whose blood/breath alcohol concentrations (BACs) exceed the maximum permitted BACs under guidance of the Ministry of Health; or use narcotics or other prohibited stimulants as per the law.
6. Damage to property due to thievery or robbery as a result of an accident.
7. Damage to property including: gold, silver, precious stones, financial instruments namely money, antiques, precious fine arts, and cadavers.
8. War, acts of terrorism, earthquake.

PREMIUM

Premium of each type of motor vehicle is specified in Appendix I issued accordance with Decree No. 67/2023/ND-CP dated 06/09/2023 of Government effect from 06/09/2023.

For motor vehicles permitted to purchase insurance with duration other than 1 year, insurance premiums shall be determined based on insurance premiums prescribed by Ministry of Finance and insurance duration. To be specific:

In case insurance duration is 30 days or less, payable insurance premiums shall be determined by dividing annual insurance premiums by types of motor vehicle by 12 months.

PREMIUM IN SOME OTHER CASES:

1. Practice vehicles

120% premium of same type vehicle.

2. Taxies

170% premium of Automobiles for commercial transportation with same seat.

3. Specialized vehicles

• Ambulance is 120% premium of pickup for commercial transportation.
• Money truck is 120% premium of automobile under 6 seats for Non-commercial transportation.
• Other specialized vehicle having designed tonnage is 120% premium of Cargo truck having same tonnage.  Cases that not having designed tonnage is 120% premium of Cargo truck under 3 tons.

4. Trailer-tractors

150% premium of Cargo trucks over 15 tons. The premium of trailer-tractors is the premium of both the tractor and the trailer.

5. Tractors

120% premium of Cargo trucks under 3 tons. The premium of tractors is the premium of both the tractor and the trailer

6. Buses

As premium of Automobiles not for commercial transportation with same seat

RESPONSIBILITY OF VEHICLE OWNER AND DRIVER WHEN TRAFFIC ACCIDENT OCCUR

1. Immediately informing the insurer via hotline to cooperate in providing treatment in order to cure and limit damage to health, life and property, protect the accident scenes; immediately informing the nearest police authorities or local governments to cooperate in resolving the accidents as per the law and cooperate with authorities in investigating and verifying causes of accidents.

2. Refraining from moving, dismantling or repairing property without consensus of insurers; except for cases in which such activities are necessary to ensure safety, prevent damage to health, life and property or comply with requests of competent agencies.
3. Within 05 working days from the date of the accident (except for force majeure), the vehicle owner should give written notice of the accident by written or electronic letter to Phu Hung.
4. Collecting and providing documents required under insurance claim dossiers within responsibilities of insurance buyers and insured person for Phu Hung.
5. Enabling Phu Hung to verify documents by the insurance buyers and insured person.

DOCUMENT

Decree No. 67/2023/ND-CP