Storm No.3 and the ensuing floods have damaged a large number of vehicles in many provinces and cities across the country. Some insurance companies have reported having to pay out thousands of billions of VND in property and automobile insurance claims, while also suffering losses themselves due to the storms and floods.
Commitment to swift compensation
Preliminary reports from non-life insurance companies indicate significant damage to automobiles. For instance, PJICO has received over 500 reports of motor vehicle and property losses, while Bao Viet has recorded 692 cases with an estimated total compensation of around 950 billion VND. Similarly, other companies such as VBI have recorded over 400 cases of motor vehicle, property, and maritime losses, and BIC, MIC, and OPES have reported hundreds of cases with compensation amounts reaching hundreds of billions of VND.
A representative from PJICO shared that for motor vehicles in areas affected by widespread flooding, the company has strengthened nearby garage stations to support vehicle rescue and coordinated with specialized appraisal agencies to handle incidents and provide the fastest compensation. Bao Viet has simplified the compensation handling process and implemented temporary payment solutions to timely support their customers.
Ms. Tao Thi Thanh Hoa, Deputy General Director of Aviation Insurance Corporation (VNI), stated that their top priority is to minimize appraisal procedures and provide quick advance payments. Meanwhile, Ms. Bui Thi Thanh Xuan, Deputy General Director in charge of the Executive Board of VBI, affirmed that they would strive to coordinate with related parties to determine losses and ensure customer benefits as soon as possible.
Car dealerships in many provinces and cities are overwhelmed by the large number of vehicles in need of repair after the storms and floods.
Warranty claims not easily approved
However, not all property and vehicle damage incurred during the recent storms and floods will be compensated by insurance companies. Insurers may refuse to provide compensation in cases where vehicles are damaged by hydrolock (water entering the engine) if the owner deliberately drives through flooded areas or if a tree falls on the vehicle. Additionally, vehicles damaged while parked in prohibited areas or traveling on prohibited, one-way roads will also not be eligible for compensation.
Apart from compensation, repairing damaged vehicles at this time is also challenging due to the large number of affected cars and the need to wait for specific parts to be imported. Moreover, many authorized dealerships in provinces impacted by the storms and floods, such as Thai Nguyen, Yen Bai, Lao Cai, Tuyen Quang, Ninh Binh, and Bac Ninh, are still dealing with flooding and roof damage and are unable to operate. The earliest some dealerships can reopen is next week.
Ford has informed customers that they can contact five dealerships in Quang Ninh, Hai Phong, Bac Giang, and Thai Nguyen. Mercedes-Benz Vietnam reported that their dealerships in Quang Ninh and Hai Phong remain operational and have seen a doubling in the number of vehicles being repaired. Additionally, car owners can also bring their vehicles to five Mercedes-Benz dealerships in Hanoi if more convenient.
Mr. Pham Quang Thang, Sales Director of Hanoi Automobile Joint Stock Company, shared that their dealerships in Viet Tri (Phu Tho) and Tuyen Quang have not resumed operations yet. Dozens of damaged vehicles in these areas have been towed to their Hanoi dealership for repairs, which can take from a few days to several months, depending on the extent of the damage and the time needed for insurance companies to approve compensation and for spare parts to be imported.
Mr. Nguyen Hoang Minh Tien, General Director of Volkswagen Vietnam, also shared that their dealerships in Quang Ninh, Hai Duong, and Hai Phong have basically completed repairs and can accommodate twice the usual number of vehicles.
Automotive brands share the burden with consumers
Several automotive brands have launched special support programs for customers affected by the storms and floods. Mercedes-Benz Vietnam announced a 5%-10% discount on total repair costs. Honda Vietnam is also coordinating with distributors to provide free oil change services from September 11 to October 11 for customers in 13 flooded provinces, including Bac Giang, Nam Dinh, Thai Binh, Bac Kan, Cao Bang, Lao Cai, Phu Tho, and Thai Nguyen.
Is Pizza Homes Yên Bái Serving Low-Quality Food to Flood Victims in the Guise of Charity?
Recent allegations have surfaced regarding a pizza shop in Yen Bai province, with claims that they donated low-quality food to flood victims. The shop owners have taken to social media to address these rumors and clarify their stance.
Peace of Mind with PJICO: Weathering the Storm with Confidence
The devastating storm, YAGI, has wreaked havoc on northern provinces such as Quang Ninh, Hai Phong, Hanoi, Hung Yen, and Nam Dinh. The remnants of the third storm are continuing to cause flooding and landslides in Thai Nguyen, Yen Bai, Lao Cai, Bac Giang, Phu Tho, and Cao Bang, posing a grave threat to the lives and livelihoods of countless families and businesses.
The Storm’s Financial Fallout: Insurers Estimate Payouts of 7 Trillion VND by September 12th.
As of 5 p.m. on September 12th, insurance companies had received reports of over 9,000 property and motor vehicle damage claims. A total of 14 fatalities were recorded, along with 18 health insurance cases.
The Water Levels in Northern Reservoirs Are Decreasing; Hydropower Plants Reduce Flood Discharge Significantly
On the morning of September 13, the Ministry of Industry and Trade announced that water levels in the northern hydroelectric reservoirs were gradually decreasing. Speaking to Tien Phong Newspaper, representatives of hydropower companies confirmed that they had significantly reduced the discharge volume over the past 24 hours.
Essential Supplies in Thai Nguyen Remain Ample, but Meat and Vegetable Prices Surge
In the city of Thai Nguyen, while there has been an increase in the prices of vegetables and pork, essential items such as water and instant noodles have remained stable. In fact, some merchants have gone a step further and reduced prices by 50% or even provided these items free of charge to groups purchasing supplies for flood-affected areas.
