What is the latest mandatory auto insurance premium?

What is the latest compulsory car insurance premium? Is there a penalty for not purchasing compulsory car insurance? Please refer to the article below.

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1. What is the latest mandatory auto insurance premium?

Currently, the compulsory civil liability insurance premium for each type of car is being applied according to Appendix I of Decree 67/2023/ND-CP as follows:

TT	Vehicle type	Insurance premium (VND)
I	Non-commercial vehicles
1	Vehicles with less than 6 seats	437,000
2	Vehicle type from 6 to 11 seats	794,000
3	Vehicle type from 12 to 24 seats	1,270,000
4	Vehicles with over 24 seats	1,825,000
5	Vehicles that can carry both people and goods (Pickup, minivan)	437,000
II	Cars for transport business
1	Under 6 seats by registration	756,000
2	6 seats by registration	929,000
3	7 seats by registration	1,080,000
4	8 seats by registration	1,253,000
5	9 seats by registration	1,404,000
6	10 seats by registration	1,512,000
7	11 seats by registration	1,656,000
8	12 seats by registration	1,822,000
9	13 seats by registration	2,049,000
10	14 seats by registration	2,221,000
11	15 seats by registration	2,394,000
12	16 seats by registration	3,054,000
13	17 seats by registration	2,718,000
14	18 seats by registration	2,869,000
15	19 seats by registration	3,041,000
16	20 seats by registration	3,191,000
17	21 seats by registration	3,364,000
18	22 seats by registration	3,515,000
19	23 seats by registration	3,688,000
20	24 seats by registration	4,632,000
21	25 seats by registration	4,813,000
22	Over 25 seats	[4,813,000 + 30,000 x (number of seats - 25 seats)]
23	Vehicles that can carry both people and goods (Pickup, minivan)	933,000
III	Cargo truck (truck)
1	Under 3 tons	853,000
2	From 3 to 8 tons	1,660,000
3	Over 8 to 15 tons	2,746,000
4	Over 15 tons	3,200,000
IV	Driving practice car	120% of the same type of vehicle fee
V	Taxi	170% of business vehicle fee with same number of seats
VI	Special purpose vehicles
1	Ambulance	1,119,000
2	Other specialized vehicles with specified design load	120% of the insurance premium of a vehicle carrying the same tonnage
3	Other specialized vehicles with no specified design load	1,023,600
VII	Tractor trailer	4,800,000
VIII	Bus	Calculated based on insurance premium of non-commercial vehicles with same seats

Note: Based on the insurance claim history of each car or the accident history of the car owner, the insurance company can proactively consider and adjust the insurance price up or down.

The maximum increase or decrease in insurance premiums is 15% calculated on the above auto insurance price.

2. Is there a penalty for not purchasing mandatory auto insurance?

According to Point d, Clause 2, Article 58 of the 2008 Road Traffic Law, one of the conditions for drivers to participate in traffic is to have a certificate of civil liability insurance for motor vehicle owners.

If the vehicle owner does not purchase compulsory auto insurance when driving a vehicle, he/she will be fined for traffic violations according to the provisions of Article 21 of Decree 100/2019/ND-CP (amended by Decree 123/2021/ND-CP) for the crime of not having or not carrying a valid Certificate of civil liability insurance of the motor vehicle owner, with a fine of VND 400,000 to VND 600,000.

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