Compulsory third party liability insurance for motor vehicle owners is regulated by Circular No. 126/2008/TT-BTC dated December 22, 2008 issued by the Ministry of Finance, on the principles, terms and conditions, tariff, and level of compulsory insurance for civil liability of motor vehicle owners and Circular No. 151/2012/TT-BTC dated September 12, 2012 issued by the Ministry of Finance outlining the amendments to Circular No. 126/2008/TT-BTC dated December 22, 2008 and Circular No. 103/2009/TT-BTC dated May 25, 2009 issued by the Ministry of Finance on the management, use, and payment of motor vehicle insurance funds. Moreover, owners of motor vehicles are encouraged to purchase voluntary third party liability insurance to better protect them against legal responsibilities.

1. ​The Endorsements
2. The Certificate
3. The Policy Schedule, and
4. The Policy Wording

The insurance coverage will take effect from the time (1) the insurance certificate is issued or (2) from the beginning of the insurance period, whichever comes last, and will continue until the end of the insurance period.

The loss of and/or damage to the components of the vehicle that is caused by theft or an attempt thereat, and is confirmed either to have been stolen and is unrecoverable or to have been damaged by the stealing attempt. In case partial loss by theft is stated in the Policy Schedule, a maximum of 2 claims of partial loss by theft can be made during the period of insurance.

A vehicle is considered as a Total Theft if (1) it is confirmed by the authorities that it is stolen and unrecoverable, or if (2) the insurable loss by theft in aggregate equals or exceeds 75% of the sum insured.

This is out-of-pocket money that the Policyholder pays for in an insurance claim as a form of co-insurance. Liberty Insurance customers are to choose one of two forms: fixed deductible or scaled deductible to ensure they obtain the best product and services at a lower cost. This also ensures fairness among customers.

Fixed deductible

• The customer will pay up to VND 1, 2, 5, or 10 million per claim
• Benefit: save 12% to 45% of premium compared to scaled deductible  

Scaled deductible

• The customer will pay at the maximum:
• For the 1^st & 2^nd claims: VND 0
• For the 3^rd claim onwards: VND 1 million per case
• Benefit: The average Liberty customer only makes less than 2 claims per year. Therefore, very few would be affected by choosing scaled deductible.

Hydraulic stroke

Customers are responsible for either 30% of any one incidence of loss or the prevailing deductible at the time of the loss, whichever is greater (applicable to both types of deductibles).

To increase savings?

• Avoid repainting when there are only a few scratches. The painting cost is based on the car part (bumpers, mudguards, doors, etc.) rather than the number of scratches
• Avoid making small claims to enjoy more favorable renewal premiums

A condition which, in the opinion of the Company, constitutes a serious medical emergency requiring urgent remedial treatment to avoid death or serious impairment to the Insured’s immediate or long-term health prospects. The seriousness of the medical condition will be judged based on the Insured’s geographical location, the nature of the medical emergency and the local availability of appropriate medical care or facilities.

A vehicle is considered a partial damage when the covered damage(s) in aggregate is less than 75% of the sum insured. Hydraulic stroke (water damage to engine) is covered under this policy and is subject to a separate deductible stated in the Schedule.

A vehicle is considered a total damage when covered damage(s) in aggregate equates to or exceeds 75% of the sum insured.