What do I need to prepare to get motorcycle insurance?

Within one year from the date of the accident, except in cases of objective and force majeure reasons, the person eligible for motorbike insurance must prepare the following documents:

Identity documents

Including documents related to the vehicle and driver: Notarized copies or copies certified by the insurance company after comparison with the original.

Vehicle registration certificate (or a certified copy of the vehicle registration certificate with the original receipt from the credit institution that is still valid, in lieu of the original vehicle registration certificate during the period the credit institution holds the original vehicle registration certificate) or vehicle ownership transfer documents and vehicle origin documents (in case there is no vehicle registration certificate).

Driver's license, ID card or passport or other identification documents of the driver.

Certificate of compulsory insurance.

Proof of damage

Documents proving damage to health and life: Copies of medical facilities or copies certified by the insurance company after comparison with the original.

Certificate of injury.

Medical records.

Extract of death certificate or death notice or confirmation document from the police or forensic examination results in case the victim dies in a vehicle or dies in an accident.

Documents proving damage to property

Including valid invoices and documents on repairs and replacement of damaged assets caused by traffic accidents (in case the insurance company carries out repairs and remedies, the insurance company is responsible for collecting these documents).

Documents, invoices, and vouchers related to expenses incurred by the motor vehicle owner to minimize losses or to comply with the instructions of the insurance company.

Other documents in the valid file will be collected by the insurance company.

Procedure for motorcycle insurance compensation

Step 1: Notify the insurance company of the accident

- Time: 5 days from the date of accident (except in case of force majeure).

- Form: Written or electronic.

Step 2: Cooperate with insurance companies to assess losses

The appraisal results must be made in writing and signed by the relevant parties.

Step 3: Receive advance insurance compensation (applicable to cases of damage to health and life)

The advance payment period is within 3 working days from the date the insurance company receives notification of the accident.

In case the accident is determined to be within the scope of compensation for damages:

In case of death: 70% of insurance compensation as prescribed/person/case

For cases of body part damage that require emergency treatment: 50% of the prescribed insurance compensation/person/case

In case the accident is not yet determined to be within the scope of compensation for damages:

In case of death: 30% of the prescribed insurance liability level

For cases of body part damage that require emergency treatment: 10% of the prescribed insurance liability level/person/case

Step 4: Submit insurance claim form

The time limit for claiming compensation is 1 year from the date of the accident, except in cases of objective and force majeure causes.

Step 5: Receive insurance compensation

The compensation payment period is 15 days from the date of receipt of complete and valid insurance claim documents (in case of verification of documents, it shall not exceed 30 days).

If compensation is refused, the insurance company must notify in writing the reasons for refusal of compensation within 30 days from the date of receipt of complete and valid documents.