MOTOR COMPREHENSIVE INSURANCE
Motor Comprehensive Insurance is a kind of insurance that can protect your cars & vehicles from accidental damage. Owner cars, Taxi, Various Utility Vehicle which is officially register from Ka Nya Na.
- Who should insure?
- Insurance Period
- Sum Insured & Premium Rating
- Compulsory Covers
- Additional Covers
- Third Party Liability
- No Claim Bonus
Owner cars, Taxi, Various Utility Vehicle which is officially register from Ka Nya Na.
- Private Vehicles
- Commercial Vehicles
- Various types of vehicle used for different purposes
From 3 Months To 1 Year.
- 35% on annual premium for three months
- 60% on annual premium for six months
- 85% on annual premium for nine months
- Not more than invoice value or market value.
- Premium should be paid by lump sum payment yearly.
- The insurance coverage starts as soon as the premium payment is done.
Premium RatingPremium amount may be depending on a private or commercial ,usage, engine cubic capacity . And the premium rate is calculated on the sum insured –
- Private : Min 0.82% ~ Max 0.85%
- Commercial : Min 1.30% ~ Max 1.36%
- SRCC (Strike, Riot and Civil Commotion) (0.05% on sum insured)
- Third party liability
- Accidental collision or overturning
- Fire, Lightning , external explosion
- Impact damage caused by falling object
- Malicious act
- Inland or waterway while in transit
- Towing fees for damage car is 100,000 Ks
- Legal fees 200,000 Ks
- Windscreen – 5% on windscreen market value (Maximum 3,000,000 Ks)
- Act of god – 0.05% on sum insured (Flood, windscreen, earthquake and etc)
- Theft – (15% on basic premium)
- War Risk – (0.05% on sum insured)
Third Party Liability
- 1,000,000 MMK for death benefit of third party liability (Loss of one’s life)
- Injury benefit is payable according percentage of injury prescribed by doctor’s assessment.
- Losses or damages (vehicle, building, and so on maximum amount of 50,000,000 MMK)
No Claim Bonus
- There will be no claim bonus for not having a claim in the previous year.
- Renewal premium payment have to be done within 30 days after expire date to get no claim bonus .
- 15% on actual premium have to add for renewal if there was claim for 2 times and above.