Motorcycle insurance is a necessary document to carry when participating in traffic. Motorcycle insurance must be purchased by the vehicle owner and meet the validity period requirements (it must not have expired). Article 58 of the 2008 Road Traffic Law stipulates the following:
Article 58. Conditions for drivers participating in traffic.
2. Drivers must carry the following documents when operating a vehicle:
a) Vehicle registration;
b) Driving license for those operating motor vehicles as prescribed in Article 59 of this Law;
c) Certificate of technical safety and environmental protection inspection for motor vehicles as prescribed in Article 55 of this Law;
d) Certificate of civil liability insurance for motor vehicle owners.
Illustrative image.
Therefore, purchasing motorcycle insurance is mandatory. However, the market currently offers many different types of insurance, sometimes causing confusion and leading to unnecessary losses.
Specifically, there are two types of insurance currently offered on the market, including:
- Mandatory civil liability insurance for owners of motor vehicles;
- Voluntary insurance.
It must be stated that the cheap insurance currently sold on the market for only 15,000 VND is legal. However, from the perspective of being a mandatory document for participating in traffic, this insurance does not meet the requirements because it is only voluntary (additional) insurance purchased by the vehicle owner. Vehicle owners are required to purchase the 66,000 VND insurance (Mandatory Civil Liability Insurance for Motor Vehicle Owners) before purchasing this voluntary insurance.
Affordable voluntary insurance is intended to provide additional compensation in the event of a collision or traffic accident, alongside the compensation coverage offered by the 66,000 VND insurance policy.
Conversely, traffic police only check and are concerned with whether the vehicle owner has purchased mandatory civil liability insurance or not; they will not require the presentation of information about the aforementioned voluntary, low-cost insurance.
BAO HUNG
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