September 23, 2017

About 400 vehicles insured daily in Mandalay Region

A traffic police directs vehicles and mortorcycles in Mandalay.

An average of about 400 vehicles are insured daily at Myanma Insurance in Mandalay Region, according to the insurance company.
There are currently about 300 to 600 cars for which owners pay for insurance daily at Myanma Insurance. About from 900 to 1,400 motorcycles are also insured, it is learnt.
Myanma Insurance offers policies that cover the compensation caused by car accidents, said Daw Khin Mar Cho, the manager of Myanma Insurance in Mandalay Region. The compensation for third-party insurance was paid at a meeting hall of Supervision Committee for Highway Express on 28th March, creating awareness of travel insurance and coverage.
“Previously, people did not realize well the benefit of the insurance”, said U Aung Kyaw Lin, the chair of the Mandalay Region Supervisory Committee for Motor Vehicles. “Therefore, we want them to know about the benefits”.
Trains, cars, motorcycles and every other type of motor vehicle must be insured. Starting from 1stAugust 2016, Ks5,000 was set as the price for a one-year insurance premium for most vehicles, and Ks2,000, for motorcycles, it is learnt.
The Special Travel Insurance for Express Ways is compulsory for travellers to cover losses in case of unavoidable accidents. Travel insurance awareness campaigns are being conducted for vehicle owners and drivers, it is learnt.

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