Phone09 45770 0011 Monday - Friday9AM - 5PM OfficeNo.886/888, Pyay Road, 9 Miles, Yangon.
OfficeNo.886/888, Pyay Road, 9 Miles, Mayangone Tsp, Yangon.
Mail Toinfo@younggeneralmm.com
Phone09 4577 00 110
Monday - Friday9AM - 5PM

MARINE HULL INSURANCE

Young Insurance General

Aim

Marine Hull Insurance is a kind of Insurance that mean guard for not only Hull but also for not damaging Machinery

There are 4 policies

(1)Inland Marine Hull Insurance Policy (Voyage)

(2)Inland Marine Hull Insurance Policy (Time)

(3)Overseas Marine Hull Insurance Policy (Voyage)

(4)Overseas Marine Hull Insurance Policy (Time)

Premium Rate

It is regard according to the Type of Vessel, Breadth, Length, Depth, Engine, Gross Registered Tonnage, Year of Construction and Water boundary which is used

(1)Steel Hull(Foreign & Local)

Normal Premium

Vessel’s age        Hull & Machinery                Increased Value

Year

1-5                         2.00%

6-10                       2.25%                                0.30%

11-15                     2.50%

16-20                     2.75%

Over 20                 3.00%                                0.65%

-Deductible        -500,000 or equivalent

Extra Guard Premium

war,strikes,malicious acts and nuclear 0.5%

(2)Wood Hull (Local only)

(3)By Streamer all-purpose goods 1.4%
     By Coastal all-purpose goods 1.8%
     By Coastal(Fishing) 2.0%

Warranty of Insurance

-     (a)Voyage

-     (b)1 year, Start from the day of purchasing Premium

Young Insurance General

Extension Premium Rate

Voyage

Under 15 days One year Premium's                               1/12

(1)month                                                                       2/12

(2)month                                                                       3/12

(3)month                                                                       4/12

(4)month                                                                       5/12

(5)month                                                                       6/12

(6)month                                                                       7/12

Up to (6)month                                                     1 year full

Money for Insurance

Agreed Value of Contract between the one who accept for Insurance and Insured person