The Law on Road Traffic Safety and Order effective from January 1, 2025 stipulates that when participating in road traffic, drivers must carry a compulsory insurance certificate for motor vehicle owners' civil liability (in that has motorbike insurance )
The insurance period is specified in Article 9 of Decree No. 67/2023/ND-CP of the Government.
Accordingly, the compulsory insurance period for civil liability of motor vehicle owners is a minimum of 1 year and a maximum of 3 years.
The following cases can buy insurance for less than 1 year:
Foreign motor vehicles temporarily imported for re-export have a duration of traffic participation in the territory of the Socialist Republic of Vietnam for less than 1 year.
Motor vehicles with a shelf life of less than 1 year as prescribed by law.
Motor vehicles are subject to temporary registration according to regulations of the Minister of Public Security.
In case a motor vehicle owner has many vehicles insured at different times of the year but in the following year needs to bring them back to the same insurance period for management, the insurance period of these vehicles may vary. may be less than 1 year and equal to the remaining validity period of the first insurance contract of that year. The insurance period of the following year for insurance contracts and insurance certificates after being returned at the same time shall comply with regulations.
In addition, the law stipulates that during the valid period stated on the Insurance Certificate, if there is a transfer of ownership of a motor vehicle, the old motor vehicle owner has the right to terminate the insurance contract according to regulations. as follows:
In case a motor vehicle has its vehicle registration certificate and license plate revoked according to regulations of the Minister of Public Security, the insurance contract will terminate from the time the vehicle registration certificate and license plate are revoked. car. The insurance enterprise is responsible for refunding the premium paid to the insurance buyer corresponding to the remaining term of the insurance contract from the time the insurance contract terminates.
