No longer optional: Fire insurance compulsory starting July 1

Apartment buildings and residential complexes with five floors or more, or a total floor area of at least 1,000 square meters, are required to purchase special risk and fire insurance under a government resolution set to take effect on Tuesday.

Decree No. 105/2025/ND-CP sets out implementation measures for the Law on Fire Prevention, Fighting, and Rescue Operations.

The document marks a shift in Vietnam’s fire safety framework, setting clear responsibilities for developers, building managers, and residents in protecting lives and property.

Fires and explosions remain among the most serious risks, often causing severe damage to life and property, particularly in densely populated residential areas such as apartment buildings and housing complexes.

Fire insurance not only serves as a legal requirement but also as an effective financial safeguard, helping mitigate economic losses in the event of an incident.

To meet rising customer demand, PVI Insurance Corporation has developed a flagship product tailored for apartment and private home owners - “All-risk apartment insurance” - featuring a range of key advantages.

Affordable and flexible premiums

Both products are designed with competitive rates, adaptable to various property sizes and risk levels. PVI Insurance applies a transparent pricing policy, making coverage accessible to homeowners and developers without creating significant financial burdens, while still ensuring comprehensive protection.

Timely and comprehensive compensation

In the event of fire, explosion, or other covered risks, PVI Insurance guarantees prompt and fair payouts to help customers recover quickly. The claims process is streamlined and fully supported to minimize time and effort for policyholders.

Convenient registration and claims process

PVI Insurance has built a user-friendly service system, allowing customers to purchase policies and file claims easily through multiple channels, including in-person at representative offices, via hotline, or through modern digital platforms.

This approach is particularly convenient for apartment residents and households in today’s digital age.

Apartments and private homes are living spaces for millions of people, making fire safety in these areas a critical issue with far-reaching implications for families and communities alike. PVI Insurance’s fire and special risk coverage offers a strong financial safeguard, helping to minimize unforeseen losses.

Backed by a trusted track record and products tailored specifically for apartments and private homes, PVI Insurance said it is committed to delivering the most suitable coverage solutions, standing by customers in every situation.