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Car Insurance

Car physical damage insurance:
Comprehensive coverage and indemnity for vehicle physical damages caused by the following accidents:
Unexpected accidents, crash, overturn 
Fire, burning, explosion


1. Benefits

a. Car physical damage insurance:
  • Comprehensive coverage and indemnity for vehicle physical damages caused by the following accidents:
  • Unexpected accidents, crash, overturn 
  • Fire, burning, explosion
  • Natural disasters such as flood, landslide, thunderbolt, earthquake, hail, tsunami.
  • Comprehensive indemnity in case of total damages of more than 75% or to the extent that no repair can make the car safe in transportation or the repair cost equals to or exceeds the car’s actual value.
* In addition, the customer is indemnified for necessary and reasonable costs arising from the accident within the insurance coverage in order to prevent, restrain further damage, to protect and send the vehicle to the nearest workshop to verify the damage.

b. Insurance for compulsory civil liability of vehicle owner to third party
  • Bodily injury, death and property damage of third party caused by the vehicle.
  • Passenger’s bodily injury or death according to passenger transportation contract caused by the vehicle.
c. Driver and passenger accident insurance

  • Indemnity for bodily injury of driver and passenger in the insured vehicle during transportation. 
2. Outstanding offers to customer buying OCB’s car insurance

a. Premium discount for long-term insurance
  • Premium discount offers to customers buying long-term insurance are as follows:
  • 2-year premium = 1-year premium x 2 x 85%
  • 3-year premium = 1-year premium x 3 x 80%
  • 4-year premium = 1-year premium x 4 x 80%
  • 5-year premium = 1-year premium x 5 x 80%
b.Premium discount for policy renewal
  • For insured vehicles with no claim made in several consecutive years, the discount of premium is as follows:
  • 01 year of no claim: discount of 10% of basic rate.
  • 02 consecutive years of no claim: discount of 20% of basic rate.
  • 03 or more consecutive years of no claim: discount of 30% of basic rate.
3. Premium

a. Car physical damage insurance

Classification by purpose of use

New to 3-year vehicle Over-3-year to under-6-year vehicle Above-6-year to 20-year vehicle
a. Vehicles of low damage * 1.50% 1.72% 1.98%
b. Cargo transportation vehicles 1.74% 2.00% 2.30%
c. Passenger transportation vehicles 1.98% 2.28% 2.62%
d. Frozen goods transportation vehicles 2.52% 2.89% 3.33%
e. Tractors 2.71% 3.12% 3.58%
f. Taxi 3.77% 4.35% 4.99%

* Vehicles of low damage: Automobiles of under 9 seats not for transportation purpose, Public service vehicles of administrative and non-business agencies, Passenger cars of hotels/State/private companies/schools, etc. Vehicles other than those in sections b,c,d,e,f.

Extended terms: 
  • Insurance for new replacement without depreciation; 
  • Vehicle inundation insurance; 
  • Insurance for repair for optional garage. 
Note: The above premium rates include Value added tax Non-deductible: VND500,000/accident b. Compulsory vehicle owner’s civil liability to third party insurance: According to regulations by Ministry of Finance. (*) c. Driver and passenger accident insurance

The sum insured/person/accident

Insurance premium (year)


The sum insured in Vietnamese Dong (VND)

 VND5,000,000 - VND200,000,000
0.10% x The sum insured
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