May I ask, according to the law, is motorbike insurance mandatory in 2023? Will I be fined if I don't buy it? Where to buy it, how much does it cost? - Reader Ngoc Thanh (Hanoi)
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Is motorcycle insurance still mandatory?
Pursuant to Article 58 of the 2008 Road Traffic Law, drivers must carry the following documents when operating a vehicle:
- Vehicle registration;
- Driving license for motor vehicle drivers as prescribed;
- Certificate of technical safety and environmental protection inspection for motor vehicles according to regulations;
- Certificate of civil liability insurance of motor vehicle owner.
On the other hand, according to Article 8 of the Law on Insurance Business 2022, compulsory insurance is an insurance product aimed at protecting public interests, the environment and social security. Compulsory insurance includes:
- Compulsory civil liability insurance of motor vehicle owners;
- Compulsory fire and explosion insurance;
- Compulsory insurance in construction investment activities;
- Compulsory insurance prescribed in other laws must meet the above compulsory insurance regulations.
Thus, according to the above provisions, it can be seen that civil liability insurance for motor vehicle owners is a compulsory insurance. In particular, according to the provisions of Clause 2, Article 3 of Decree 03/2021/ND-CP, motor vehicles include road motor vehicles and specialized motorbikes, including:
- Road motor vehicles include automobiles; tractors; trailers or semi-trailers pulled by automobiles or tractors; two-wheeled motorbikes; three-wheeled motorbikes; motorbikes (including electric motorbikes) and vehicles with similar structures as prescribed by the Law on Road Traffic.
- Specialized motorbikes include construction motorbikes, agricultural and forestry motorbikes and other special vehicles used for defense and security purposes according to the provisions of the 2008 Road Traffic Law.
Thus, based on the above regulations, it can be concluded that civil liability insurance for motorbike owners (or in practice more briefly called "motorbike insurance") is a compulsory insurance that vehicle owners must participate in and carry when participating in traffic.
Is there a penalty for not buying motorbike insurance?
As mentioned above, motorbike insurance is mandatory, so vehicle owners must purchase motorbike insurance and carry a motorbike insurance certificate when participating in traffic; in case of not purchasing or not carrying it when participating in traffic, they will be punished according to the provisions of Article 21 of Decree 100/2019/ND-CP (amended by Decree 123/2021/ND-CP), specifically as follows:
- Fine for cars: In case of not having or not carrying a valid civil liability insurance certificate of the motor vehicle owner, the fine will be from 400,000 VND to 600,000 VND.
- Fine for motorbikes and mopeds: In case of not having or not carrying a valid civil liability insurance certificate of the motor vehicle owner, the fine will be from 100,000 VND to 200,000 VND.
How much is motorbike insurance?
According to Circular 04/2021/TT-BTC, the specific motorbike insurance premiums (excluding VAT) are as follows:
- For electric motorbikes or motorbikes under 50cc: 55,000 VND/year.
- For motorbikes over 50cc: 60,000 VND/year.
- For motorbikes over 175cc and other vehicles: 290,000 VND/year.
Where to buy motorcycle insurance?
Clause 3, Article 8 of the Law on Insurance Business 2022 stipulates that organizations and individuals subject to compulsory insurance are obliged to purchase compulsory insurance and are allowed to choose to participate in compulsory insurance at insurance enterprises and branches of foreign non-life insurance enterprises permitted to implement.
Therefore, motorbike owners need to buy motorbike insurance at one of the insurance companies, branches of foreign non-life insurance companies (collectively referred to as insurance companies) that are permitted to conduct motorbike insurance business according to the provisions of law.
On the other hand, currently, insurance companies have distribution systems, agent systems as well as systems linked to other support units (such as banks, gas stations, etc.) spread across many provinces and cities across the country, ensuring convenience for car owners when they want to buy insurance.
Accordingly, motorbike owners can go to the following locations to buy motorbike insurance:
- Insurance company headquarters.
- Insurance agent...
- Bank...
- Gas station...
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