Car owners are opting for external repairs to save on insurance costs
Mr. Nguyen Vinh Hao from Thu Duc City expressed his frustration with having to pay VND 1 million to Bao Minh Insurance for minor scratches on both sides of his car, along with an additional 10% of the total repair cost due to his inability to preserve the accident scene and obtain police confirmation. Mr. Hao explained that his car’s scratches could have occurred while it was parked on the street or in a parking lot, and by the time he noticed them, it was impossible to determine the exact location and cause. Moreover, the police would not typically attend to such minor incidents. He feels that the insurance company’s requirement for comprehensive evidence places an unreasonable burden on car owners.
According to Lawyer Nguyen Van Hau, Vice Chairman of the Ho Chi Minh City Bar Association, insurance companies implement a deduction of VND 500,000 per incident to minimize small compensation claims that can be costly for them. Additionally, the reduction of 10%-99% of the repair cost, especially in cases where the accident scene is not reported or timely notified, aims to mitigate compensation risks for unclear liabilities. However, Lawyer Hau emphasized that if these clauses are not transparently stated in the contract, customers have the right to request clarification. He pointed out that many insurance contracts fail to explicitly mention these deduction and reduction regulations, leading car owners to believe that all damages will be fully covered. Under the 2022 Law on Insurance Business, if an insurance company deliberately fails to fulfill its obligation to provide information or provides false information, the insured has the right to cancel the contract and receive a refund of the premiums paid.
Lawyer Hau further advised that if there are exclusion clauses, the insurance company must clearly state them in the contract and explain them to the insured. In cases of force majeure or objective obstacles that prevent the insured from promptly reporting the accident scene, the insurance company should not apply exclusion clauses related to late notification.
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