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PTI provides coverage for stolen cars
editer,
If you take out ordinary auto physical damage insurance, PTI will pay you the full value of your vehicle when it is stolen (the actual value of the vehicle before it is stolen).
If you take out ordinary auto physical damage insurance, PTI will pay you the full value of your vehicle when it is stolen (the actual value of the vehicle before it is stolen).
If you purchase auto physical damage insurance without any additional agreement other than the basic insurance clauses, you will get nothing where any part of your car is stolen.
Partial theft insurance may not be necessary for cheap cars; however, if you have an expensive luxury car, you should purchase this package to get paid by PTI in case of any partial theft. Gangs often target luxury cars as parts such as mirrors, lights and logos of such a car are of high value and as a result, the cost of replacing them with new ones is extremely high.
If you buy this partial theft insurance package, you will be paid when any car part is stolen, except in the following cases:
• The vehicle is stolen at a licensed parking area
Where you park your car at a licensed parking area and a mirror, logo or light is taken away, PTI will not pay you the cost of replacing it with a new one and in this case the carkeeper and the parking area manager will be the ones to blame for the theft.
• Failure to notify the loss to the insurer.
After any parts of your car such as mirrors, logos or lights are stolen, you must immediately notify PTI and the local authority and police station of the loss. If you fail to do so and such failure is not caused by force majeure, you will not be paid by PTI.
• The limit on the number of thefts per year is exceeded
It is also noted that where the term of your auto parts insurance policy is up to one year, you will get paid only if there are no more than two thefts in a year. If the term is over a year, the number of thefts covered by this insurance in a year will be unlimited but the deductible in such case will be at least 20% of the value of the loss or VND2,000,000/occurrence, whichever is greater.
If you purchase auto physical damage insurance without any additional agreement other than the basic insurance clauses, you will get nothing where any part of your car is stolen.
Partial theft insurance may not be necessary for cheap cars; however, if you have an expensive luxury car, you should purchase this package to get paid by PTI in case of any partial theft. Gangs often target luxury cars as parts such as mirrors, lights and logos of such a car are of high value and as a result, the cost of replacing them with new ones is extremely high.
If you buy this partial theft insurance package, you will be paid when any car part is stolen, except in the following cases:
• The vehicle is stolen at a licensed parking area
Where you park your car at a licensed parking area and a mirror, logo or light is taken away, PTI will not pay you the cost of replacing it with a new one and in this case the carkeeper and the parking area manager will be the ones to blame for the theft.
• Failure to notify the loss to the insurer.
After any parts of your car such as mirrors, logos or lights are stolen, you must immediately notify PTI and the local authority and police station of the loss. If you fail to do so and such failure is not caused by force majeure, you will not be paid by PTI.
• The limit on the number of thefts per year is exceeded
It is also noted that where the term of your auto parts insurance policy is up to one year, you will get paid only if there are no more than two thefts in a year. If the term is over a year, the number of thefts covered by this insurance in a year will be unlimited but the deductible in such case will be at least 20% of the value of the loss or VND2,000,000/occurrence, whichever is greater.