|Decree 67 provides civil liability insurance limits for damage caused by motor vehicles__Photo: Internet|
The Government has recently issued a regulation on compulsory civil liability insurance for motor vehicle owners in a move to facilitate their participation in civil liability insurance.
As per Decree 67 issued on September 6, civil liability insurance duration of motor vehicle owners will be between one year to three years, except motor vehicles temporarily imported for re-export with the period of joining traffic in Vietnam of less than one year, those intended for use for less than one year, and those subject to temporary registration under the Minister of Public Security’s regulations.
Decree 67 provides civil liability insurance limits for damage caused by motor vehicles.
Specifically, in case of an accident, the insurance limit for damage caused to people’s health or life by motor vehicles will be VND 150 million per person. Meanwhile, an insurance sum of VND 50 million will be applied for damage to assets caused by motorbikes, three-wheeled motorcycles, electric motorcycles, and vehicles of similar structure, and VND 100 million for damage to assets caused by cars, tractors, trailers or semi-trailers, and tractors as specified in the Law on Road Traffic.- (VLLF)