Fire, explosion, flooding, why are Vietnamese people still not interested in private home insurance?
According to a press release from the Fire Prevention, Fire Fighting and Rescue Police Department (Ministry of Public Security), in the first 9 months of 2025, there were 1,810 fires nationwide, equivalent to about 201 fires per month, with property damage amounting to thousands of billions of VND.
However, according to statistics from non-life insurance companies, there are very few households in urban areas of Vietnam that own private home insurance. Most people still think that insurance is only for businesses or luxury apartments.
In reality, with only a few hundred thousand dong a year, equivalent to the cost of an out meal, the homeowner can protect both the house and hundreds of millions, even billions of dong in assets.
Meanwhile, people only tend to think about insurance after risks have occurred. The belief that "your home is solid, there is security, there is a fire protection system, bad things will not come" makes many people fall into the virtual safety mentality - believing that risks are always far away, only happening to someone else.
The culture of "living with risks" accidentally causes insurance to be misunderstood: not a proactive tool for prevention, but an "unnecessary cost".
However, few people know that private home insurance not only protects against the risk of fire and explosion according to the mandatory regulations of the State, but also extends payment for many other risks such as damage to both the house and internal assets.
From settlement to safety: How to make it easier for people to access private home insurance?
A representative of Bao Viet Insurance Corporation shared: "In the context of Vietnam entering a period of strong urbanization and the rapidly expanding middle class, we do not only position insurance as a financial safety solution, but as a foundation for each family to feel secure against risks from nature, infrastructure and technology".
According to this person, when people clearly see that material assets, housing and living environment are constantly changing, the responsibility of insurance companies is even greater: to bring flexible, accessible solutions, and integrate technology to make the insurance program closer and more accessible.
Insurance is not simply compensation for losses, but also creates trust and sustainable stability for each family, each urban community and for society in general.
In the face of increasing demand for asset protection in modern urban life, from now until November 25, Bao Viet Insurance will reduce 30% of private home insurance premiums in the promotion program " more economical - More secure".
Accordingly, the private home insurance program of Bao Viet Insurance fully meets the regulations on compulsory fire and explosion insurance according to Decree 105/2025/ND-CP.
At the same time, it is flexibly designed to expand insurance benefits, in line with the actual needs of the people.
The product is designed flexibly, suitable for many types of housing such as apartments, private houses or rental works; not only supporting rental costs after losses but also comprehensively protecting against the risks of fire, explosion, natural disasters, water spills, collisions, theft and legal liability to third parties.
Following that spirit, the promotion program also deploys a 20% discount for car physical insurance and 10% for health insurance.
With a nationwide service network and a quick and transparent participation and compensation process, Bao Viet Insurance constantly improves service quality, bringing the best experience to customers.
Customers can also access https://baovietonline.com.vn or contact the 24/7 hotline via hotline 1800 1118 or (024) 35 73 05 05, member companies and agents nationwide for quickest and most convenient advice and insurance participation.
