COMPREHENSIVE VOLUNTARY MOTORCYCLE INSURANCE

TOTAL PROTECTION SOLUTIONS FOR MOTORCYCLES AND SCOOTERS

I. VOLUNTARY MOTORCYCLE INSURANCE PRODUCTS INCLUDE:

• Motorcycle Physical Damage Insurance (Hull Insurance)

• Voluntary Third-Party Liability (TPL) Insurance (Top-up coverage)

• Personal Accident Insurance (For the driver and passengers)

II. DETAILED PRODUCT INFORMATION

2.1 Motorcycle Physical Damage Insurance: 2.1.1 Scope of Coverage MIC shall be responsible for compensating physical damage to the insured vehicle caused by sudden and unexpected accidents beyond the control of the Owner or Driver in the following cases:

• Risk A – Theft and Robbery: MIC compensates for the loss of the entire vehicle due to theft or robbery.

• Risk B – Fire and Explosion: Damage caused by sudden fire or explosion.

• Risk C – Other Causes:

  • Direct Traffic Accidents: Collisions, overturning, falling, or sinking.

  • Natural Disasters: Unforeseeable natural events.

  • External Objects: Impacts from falling or flying objects hitting the vehicle.

2.1.2 Sum Insured & Insured Value

• Insured Value: The actual market value of the vehicle at the time of policy inception, as mutually agreed upon.

• Sum Insured (SI): The amount requested for insurance by the customer and recorded on the Certificate/Contract. The SI must not exceed the actual value of the vehicle.

2.1.3 Insurance Premium and Term

• Premium: The fee paid to MIC in exchange for asset protection commitment.

  • Theft and Robbery Premium: 0.3% of SI.

  • Fire and Explosion Premium: 0.2% of SI.

  • Other Risks Premium: 2% of SI.

• Insurance Term: Validity begins and ends as specified on the Certificate, provided that the premium has been paid in full (unless otherwise agreed).

2.1.4 Deductibles:

• For Theft/Robbery: 500,000 VND per claim.

• For Other Risks: 10% of the loss, with a minimum of 3,000,000 VND per claim.

2.1.5 Insurance Benefits: Upon the occurrence of an insured event, MIC shall fulfill its compensation obligations as follows:

• For Theft/Robbery: Compensation is processed after 90 days from the notice date if the vehicle remains unrecovered, with confirmation from relevant authorities.

• Partial Loss Compensation: MIC covers reasonable costs for repairing or replacing damaged parts to restore the vehicle to its pre-loss condition.

• Total Loss Compensation: Applicable when estimated repair costs exceed 75% of the vehicle’s actual value, or in case of total theft/robbery. MIC will compensate the actual value at the time of loss (not exceeding the SI on the contract).

• Necessary and Reasonable Expenses: MIC also supports costs incurred to prevent/mitigate further loss or costs to transport the vehicle to the nearest repair shop.

2.2 VOLUNTARY THIRD-PARTY LIABILITY (TPL) INSURANCE While Compulsory TPL is the legal minimum, Voluntary TPL serves as a “backup limit,” providing peace of mind against major risks that exceed standard payment capacities.

• 2.2.1 Scope of Coverage: MIC will compensate Third Parties on behalf of the Owner for bodily injury, death, and property damage caused by the driver’s unintentional fault. This applies to damages exceeding the liability limits of the state-mandated Compulsory Insurance.

• 2.2.2 Compensation Benefits:

  • Bodily Injury: Paid based on fault level and actual damage, supplementing the gap after Compulsory Insurance limits are exhausted.

  • Property Damage: Compensation for actual damage to third-party assets based on the driver’s fault.

• Practical Significance: In serious collisions involving luxury cars or significant bodily injury, compensation can reach hundreds of millions or billions of VND. Voluntary TPL ensures you do not face bankruptcy or debt following an accident.

2.3 PERSONAL ACCIDENT INSURANCE FOR DRIVER & PASSENGERS A humanitarian-focused coverage protecting the driver and those traveling with you.

• Insured Persons: The driver and actual passengers on the vehicle, including the process of getting on or off during transit.

• Detailed Benefits:

  • Death: MIC pays 100% of the Sum Insured.

  • Permanent Disability: Paid according to the percentage specified in the current Health and Life Damage Compensation Table.

  • Temporary Injury: Payment of actual and reasonable medical expenses plus a daily allowance (up to 0.1% of SI per day).

• Overcrowding Clause: If the number of people on the vehicle exceeds the contract limit at the time of the accident, benefits are reduced proportionally. However, children under 7 years old always receive full benefits, reflecting MIC’s priority in protecting minors.

3. WHY CHOOSE MIC DONG SAI GON?

• Accurate & Sufficient Advice: We don’t just sell insurance; we consult the liability levels that fit your actual conditions.

• Rapid Procedure Support: Our specialists will accompany you in completing files and coordinating surveys to ensure claims are resolved within 15 working days.

Expert’s Conclusion: Do not let unexpected risks disrupt your life and future plans. Choosing a combined package of Physical Damage, Voluntary TPL, and Personal Accident insurance at MIC Dong Sai Gon is a smart investment for the safety of both people and assets.

Contact us today for a tailored protection solution!

MIC DONG SAI GON INSURANCE COMPANY

• Address: No. 46, Street 12, Quarter 5, Hiep Binh Chanh Ward, Thu Duc City, Ho Chi Minh City.

• Email: hungnm2@mic.vn

• Hotline/Zalo/Viber: 0979.407.788 – 0914.798.239