မော်တော်ယဉ်ရှိသူတိုင်းအတွက်
မော်တော်ယဉ်အာမခံ
Motor Vehicle 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?
Owner cars, taxis, and various utility vehicles that are officially registered with Ka Nya Na.
Insured Vehicles
- Private Vehicles
- Commercial Vehicles
- Various types of vehicles used for different purposes
Eligible for Insurance
- Vehicle owner
- The person in charge or supervisor of the vehicle line
- Individuals or responsible parties associated with the vehicle
Insurance Period
The options available are for (3) months, (6) months, (9) months, and (1) year. The policy can be renewed at the end of the 1-year term.
- 35% on annual premium for three months
- 60% on annual premium for six months
- 85% on annual premium for nine months
Sum Insured & Premium Rating
Sum Insured
- Not more than invoice value or market value.
- The premium must be paid annually in a single payment.
- The coverage benefits become effective immediately upon the payment of the insurance premium.
Premium Rating
- Calculated based on the type of vehicle (private or commercial), number of passengers, and engine capacity (cc).
- Private vehicle: Min 0.82% ~ Max 0.85%
- Commercial vehicle: Min 1.30% ~ Max 1.36%
For those insuring a minimum of ten vehicles or more, and for those insuring in groups, a Fleet Discount of 10% off the base premium can be applied.
Third-Party Liability
- In case of third-party injury caused by the insured vehicle, a benefit of 1,000,000 MMK will be provided for the death of one person.
- For injuries, benefits will be provided based on the percentage determined by the doctor’s certification.
- Compensation will also be provided for damages to property (vehicles, buildings, utility poles, platforms, etc.) caused by accidents. The maximum compensation for such damages is 50,000,000 MMK.
For Personal Accident and Medical Treatment (insured, drivers, any person on the vehicle)
- The death of one person – Kyats (3) million
- Bodily injury to any person – proportional value according to Third-Party Liability Rule
- Maximum compensation for any one occurrence – Kyats (50) million
No Claim Bonus
- If no claims are made in the first year, a no claim bonus will be received in subsequent years.
- If the renewal premium payment is made within 30 days after the expiration date, then the no claim bonus will be applicable.
- If there have been two or more claims within one year, 15% of the actual premium will be added upon renewal.
ဆုံးရှုံးမှုကိုကာကွယ်ရန် အခုပဲဆက်သွယ်လိုက်ပါ
Compulsory Covers & Benefit
- Windscreen Coverage – 5% of the windscreen value (Up to a maximum of 3,000,000 Ks)
- SRCC (Strike, Riot, and Civil Commotion) – 0.05% of the sum insured
- Third-party liability
- Vehicle collision or overturning
- Fire, Lightning-induced Fire, external Explosion
- Objects falling onto the vehicle
- Damage caused by malicious acts
- Damage during waterway or land transport
- Towing Expenses – 100,000 Ks
- Legal Expenses – 200,000 Ks
Additional Covers & Benefit
- Act of god – 0.05% on sum insured (Flood, windscreen, earthquake, etc)
- Theft – 15% on basic premium
- War Risk – 0.05% on sum insured
- Nil Excess (up to Kyats 0.1 million) - Kyats 25,000 (As Nil Excess Amount increases, the charges premium is entitled to a reduction)
- Betterment - Coverage for repairing or replacing the damaged parts of vehicle with better parts
Our Claim Process
Follow up in case of a traffic accident
- If an accident happens, please report it to YOUNG Insurance Co., Ltd via Claim Hotline Numbers – 09-44 888 33 00 and 09-44 888 33 11.
- In case of an accident, take a picture of the vehicle with its license plate on it before moving it from an accidental area.
- The driver's license, the vehicle's wheel tax, and photos of the damage to the vehicle must be given to the insurance company.
- You have to notify the insurance company without engaging in any negotiations, discussions, settlements, or self-acceptance of responsibility.
- Suppose the insured vehicle is damaged due to the fault of another vehicle. In that case, the owner of the insured vehicle must claim compensation for the damage from the other vehicle and notify Young Insurance.
- The insured must report the car accident to the appropriate traffic police station if the facts surrounding it are unclear.