Many people buy car insurance but are unsure what to do after an accident to receive compensation according to regulations.
**Notification of Car Accident or Incident**
For the car insurance claim process after an accident, you must first notify the insurance company of the incident, typically by phone. Most insurance companies have a 24/7 customer service hotline clearly printed on your insurance certificate. Be sure to provide complete information, including your full name, phone number, license plate number, time, location of the incident, and a detailed description of what happened.
According to car material damage insurance regulations, insurance companies may refuse to compensate if the customer fails to notify them of an accident. They might even impose a penalty of 10-50% of the total repair cost when processing car insurance benefits after an accident.
Furthermore, an indispensable principle for receiving insurance benefits is to preserve the accident scene. This ensures that all details of the accident are not disturbed or altered, which would complicate the investigation and claims assessment process.
**Car Insurance Claims Assessment After an Accident**
- **Cases where the car did not collide with a third party:**
The claims assessment requires the presence of a legal representative and an authorized claims assessor from the insurance company. Based on the estimated damage, the insurance company will inform the police to determine if they will participate in verifying the scene.
For minor material damage, from VND 5 million or less, or damage caused by external hard objects to lights, glass, or mirrors, you only need to wait for the company to monitor and inform you of the compensation result.
For damage ranging from VND 5 million to VND 10 million, an insurance company assessor must inspect the scene, without the need for confirmation from the police/local authorities.
In cases where the estimated material damage to the vehicle is over VND 10 million, confirmation from the traffic police/police/local authorities is mandatory. Additionally, an assessor must verify the scene.
- **Cases where the car collided with a third party:**
The vehicle owner involved in a car accident must have confirmation from the traffic police/police/local authorities.
* **Material damage under VND 20 million:**
The participant needs to present confirmation from the traffic police/police/local authorities, and an assessor must verify the scene.
* **Material damage over VND 20 million:**
The participant must have a police report. Additionally, an assessor must inspect the scene.
**Reference for Car Insurance Compensation Amounts After an Accident**
After assessing the damage, the insurance company will decide on the compensation plan and the appropriate compensation amount for the car accident.
- **Car Insurance Compensation Plans After an Accident:**
* **Vehicle Repair:**
If the contract includes a clause for choosing a repair facility, costs will be calculated according to the official price list. If you choose a non-official facility, the price must be agreed upon based on market value. If you do not purchase the optional repair location clause, the insurance company will designate a repair facility. If you disagree with their choice, any additional costs incurred will be your responsibility.
* **Monetary Compensation:**
Monetary compensation for car accidents is applied to parts where damage is easily assessed and cannot be replaced. Alternatively, it applies when the vehicle owner is in an area without quality service workshops, or when repairs cannot meet deadlines, and immediate damage mitigation is required.
- **Car Accident Insurance Compensation Levels:**
* **Partial Damage:**
Insurance companies will limit the compensation for partial damage based on a percentage of the vehicle's total value.
* **Total Loss:**
This category includes theft, severe damage that cannot be repaired, or when the total repair cost exceeds the vehicle's value.
In this situation, the maximum compensation amount is the insured sum minus the depreciation from vehicle usage. In another scenario, the compensation is calculated equivalent to the vehicle's value at the time of the loss.
Currently, insurance companies offer various types of car insurance, ensuring full benefits and advantages for policyholders.
- **Compulsory Civil Liability Insurance:** This covers compensation to third parties caused by the vehicle.
- **Automobile Civil Insurance:** This covers damages to health, life, and property of third parties caused by the vehicle.
- **Vehicle Material Damage Insurance:** This covers physical damage to the vehicle.
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