How much does auto body insurance cost?

After owning a car, you will spend some costs for insurance packages, including auto body insurance. So how much does auto body insurance cost? Let’s explore with us in the following article!

1. What is auto body insurance?

Auto body insurance is auto insurance for the car’s exterior accessories including: Entire cabin, steering wheel, hood, fenders, all doors and glass, all lights and mirrors, wipers , washing glass, the entire metal, plastic or wooden shell… (belonging to the total body wall). When there is an incident that causes damage to the body of the car, the insurance companies will pay the costs for repairing such damage according to the contents agreed in the body insurance policy. bark.

body insurance cost

Benefits of signing up for body insurance

When participating in insurance, depending on the requirements of the car owner, the insurance policy that the car owner participates in may have the following coverages of benefits after the damage caused to the vehicle is incurred:

  • Accidental, unexpected accident beyond the control of the vehicle owner/driver in cases such as collision, overturning, toppling,falling, sinking, fire, fire, explosion, being hit by other objects.
  • Force majeure accidents caused by nature such as thunderstorms, storms, floods, floods, landslides, lightning strikes, earthquakes, hailstorms, tsunamis.
  • Theft, the whole car stolen

The cost of towing, charging and detonating the engine (if any and each insurance company applies with different scopes.
In addition, the insurance company will pay for the costs incurred by the vehicle owner in order to rescue, repair, etc., with the goal of preventing additional losses caused by risks.

2. How much does auto body insurance cost?

The price of auto body insurance can range from a few hundred thousand to several tens of millions of dong, depending on many factors. If the car owner participates in compulsory auto insurance, the necessary information to calculate the insurance premium is: Number of seats, purpose of use (business or not), if truck, how many tons.

If the vehicle owner participates in auto physical insurance, then the information needed to calculate the premium: Vehicle manufacture year, intended use, vehicle value, additional terms you want to participate.

body insurance cost-1

3. How to calculate car body insurance

The way to calculate the car body insurance premium is calculated by taking the percentage of the insurance premium multiplied by the invoiced value of the car. Currently, there are many car body insurance companies with different fees, but the fee ranges from 1.4% – 2.0% of the vehicle value, depending on the terms of the compensation value received by the car owner. .

For example: If you buy a car of 600 million VND with a premium of 1.7%, the car body insurance price you have to pay is:

(1.7*600,000,000)/100 = 10,200,000 VND.

4. Car body insurance prices of some insurance companies today hãng

Car accidents are increasing day by day. A recent typical example is the case of a crazy car hitting a series of people at red lights, causing great damage to people and property. To minimize the risk, repair the cost of the car and be compensated satisfactorily. Car owners should take part in auto body insurance such as: Bao Viet, Pjico, PVI, etc. Below is a price list of auto body insurance of some insurance companies, car owners can refer to:

How much does auto body insurance cost

PJICO car body insurance premium.

PJICO Insurance Corporation was established in 1995. Always positioned as one of the top insurance companies in Vietnam. PJICO always works persistently and constantly grows, thereby building a trust and love in the hearts of customers. Currently, PJICO SAI GON is always a reliable address that many showrooms, banks, and car owners choose to participate in vehicle insurance.

Car body insurance premium of BIC insurance company

Bank for Investment and Development of Vietnam Insurance Corporation (BIC) was born on the foundation of the Bank for Investment and Development of Vietnam BIDV. The strength of BIC is the experience of 6 years of joint venture in the insurance field and the strong financial resources of the parent company BIDV.

According to statistics of the Vietnam Insurance Association, BIC Insurance is proud to always be in the top 10 non-life insurance companies and always has a stable growth rate over the years.