BAO VIET VEHICLE’S PHYSICAL DAMAGE INSURANCE

1. What is car insurance?

This is an optional insurance package when you buy a car, but it is very necessary because it shares with the owner of the car the cost of repairing when incidents of theft occur, unexpected and unwanted collisions.

However, depending on the policy of each vendor, the buyer will see different conditions of application, benefits, the price of each carrier’s insurance is different and usually calculated according to the value of car. Or depending on the chosen insurance package, customers will get the accompanying services to suit their needs and economic ability.

2. Service packages in car insurance and notes when purchasing

As mentioned, depending on the policy of each firm, the price … the physical insurance package will have different services, depending on the financial capacity as well as the travel environment of the buyer. Consider selecting packages accordingly. The general experience is, if the vehicle you own has an average value (about 1 billion VND), it is advisable to buy car insurance, repair at the selected and submerged garage (hydro-electric), and with the school In the case of luxury cars, it is advisable to buy more stolen parts insurance.

The following are the key factors to consider when choosing to purchase a physical insurance package for cars:

* Insurance of hydrodynamics and natural disasters flooded

For hydrodynamic insurance or natural disaster flood insurance, although it is important, not all insurance companies offer this service, you need to ask about the insurance package you are about to buy with two items. this or not. The cost of replacement and repair when this vehicle is damaged is quite large, especially for cars imported to import, the damage caused by the hydraulic jacks can range from several hundred million to several billion, so pay close attention and Don’t regret buying money with these two items in your insurance package.

* Parts theft insurance

With this type of insurance, you need to be aware that many companies will not compensate if the car is broken with a rearview mirror while parked in a street without people looking. Some companies have limited the number of stolen parts, some have limited the number of theft.

With the current high security risks, “attaching” the compensation when you accidentally lost your mirror or the details of the exterior is something you should do, not to “lose a new cow to make a cage.” “Please.

* Free rescue, repair place

Some insurance companies only refund the rescue cost if the customer has purchased additional benefits to choose the repair garage and has limited scope and conditions of rescue. Repair costs in genuine garage can be 15% – 20% higher, so in the price list of many insurance companies, customers have to pay additional fees if they want to choose the repair garage themselves.

In addition, car owners should also find out the list of genuine garage directly paid by the insurance company because the claim from the insurance company may take a long time and complicated procedures. other.

3. How to buy physical insurance to save money

Fee rates are of course a factor that many people are very interested in, but this should not be a decisive factor. Low fee, the quality of service is commensurate, but in some cases, if the customer does not pay attention to carefully read the contract, it may be cheap and expensive. Therefore, customers need to consider carefully before making a decision, not only about the premium.

* Choose a high deductible

The deduction level is the amount that the customer shares the risk with the insurance company in each loss.

– The deduction level is the cost that the customer must bear for each and every loss before the insurance company pays the remaining costs.

Illustration:

– Deduction level: If customers buy physical insurance for cars with a deduction of VND 500,000. When the loss occurs with the cost of repairing the loss (for example VND 5,000,000), the customer will have to pay VND 500,000, the insurance company must pay the remaining cost (VND 4,500,000).

Usually in Vietnam, the deduction is VND 500,000. If you increase to VND 1,000,000, you can save up to 5% of the premium when an incident occurs because the higher the exemption, the lower the rate of the premium, but not the insurance company. Every option has an option to increase the exemption. But if you choose this option, you must drive very carefully because most scratches on the car body will not be compensated.

Bao Viet’s utility services

Free rescue service within 70 km from Bao Viet Rescue Centers in major provinces and cities
Service of accident settlement & claim settlement 24/7 through Hotline 1900 55 88 99 / (84 4) 3573 0505
Compensation service is fast, compact, accurate
Notice of renewal of free insurance contract
Customers can choose insurance by package or separately