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Comprehensive Motor Insurance

Provide protection against vehicle losses caused by unforeseen accident. Comprehensive Motor Insurance policy covers losses by own damages and third party liability. With the increasing number of vehicle in the road, it is vital that you have your vehicle insured to safeguard against loss resulting from unforeseen incidents and accidents. Comprehensive Motor Insurance package provides you with all the necessary coverage for you and your vehicle.

Classes of Vehicles

  • Private
  • Taxi
  • Commercial
  • Passenger
  • Mobile Plant
  • Trucks

Benefits

Compensation for loss of or damage to the policy holder’s vehicle

  • The claim payable is up to the total repair cost of the insured vehicle borne by the insured.

Death & Injury Benefit for the Passengers of the insured vehicle,

  • Death benefit – Lump Sum payment of 1,000,000 kyats
  • Injury benefit – Compensation is payable according to scale of injury prescribed by the Regulatory Body subjected to certified doctor’s assessment

Third Party Compensation

  • Death benefit – For loss of one life of 3rd Party, the maximum claim payable amount is 1,000,000 kyats.
  • Injury benefit – Compensation is payable according to scale of injury prescribed by the Regulatory Body subjected to certified doctor’s assessment
  • Losses or Damages of property owned by 3rd Party – The claim payable is up to a reasonable cost of repair for the damaged property, or value of the lost property.
  • 3rd Party liability is limited to maximum amount of 50,000,000 kyats for one event.

Insured Period

The term of the policy will be from 3 months to 1 year and can be renewed on a yearly basic.

Footnotes

  • Total sum insured amount may vary depending on usage, value and engine cubic capacity of the vehicle
  • Customer can also buy additional covers by paying additional premium
  • Customer is not eligible to claim for the damages when unlicensed or unauthorized person is driving the vehicle and causing an accident
  • Customer is not eligible to claim for the damages when driving under the influence of intoxicating liquor or drugs

Eligibility

  • Any vehicle registered in Road Transportation Authority is eligible to buy the coverage.

Sum Insured

  • Invoice Value or Market Value of Vehicle.

Premium

  • Premium amount may vary depending on usage, value, engine cubic capacity of the vehicle and the insured period of the vehicle
  • Premium amount will be around 0.8% to 1.2% of total sum insured and must be paid by lump sum payment yearly
  • If a customer insures above 10 vehicles, there will be fleet discount of 10% on the basic premium

No Claim Bonus

  • No-Claim Bonus, a discount on the renewal premium will be rewarded to the insured for not having the claim during the policy year.

Percentage of No-Claim Bonus

MotorEng

Additional Covers

  • Windscreen (Compulsory)
  • SRCC (Strike, Riot and Civil Commotion) (Compulsory)
  • Acts of God (Flood, Windstorm, Earthquake and etc)
  • War Risks
  • Theft

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