Change of the time limit on the compulsory motorbike insurance

1. The time limit is specified on the certificate of insurance:

a) For two-wheeled, three-wheeled motorcycles, motorcycles (including electric motorcycles) and vehicles with similar structures as prescribed by the Law on Road

Traffic, the minimum insurance term is 1 year and a maximum of 3 years.

b) For the remaining motor vehicles, the minimum insurance term is 1 year and the maximum duration corresponds to the time limit for technical safety inspection and environmental protection with a term of more than 1 year.

c) In the following cases, the insurance term is less than 1 year: Foreign motor vehicles temporarily imported or re-exported have a time limit for traffic participation in the territory of the Socialist Republic of Vietnam for less than 1 year; the shelf life of motor vehicles is less than 1 year as prescribed by law; motor vehicles are subject to temporary registration as prescribed by the Ministry of Public Security.

d) In case motor vehicle owners have many vehicles participating in insurance at different times of the year but in the next year there is a need to bring back at the same time of insurance for management, the insurance term of these vehicles may be less than 1 year and equal to the remaining validity period of the first contract of the year. The duration of the next year's insurance for insurance contracts and insurance certificates after being returned at the same time as prescribed in Point a, Point b Clause 1 of this Article.

2. Insurance validity starts and ends according to the time limit stated on the Insurance Certificate.

3. Within the validity period stated in the Insurance Certificate, if there is a transfer of ownership of motor vehicles, all insurance benefits related to civil liability of the owners of old motor vehicles are still valid for new motor vehicle owners.

Thus, for two-wheeled, three-wheeled motorcycles, mopeds (including electric scooters) and vehicles of similar structure as prescribed by the Law on Road Traffic, the minimum insurance period is 01 year and maximum 03 years (according to the old regulations, the valid until the end of February 2021, the time limit stated on the Certificate of Insurance is 01 year).

This Decree takes effect since March 01st, 2021