August 19, 2016

Only insured drivers can use Oway Ride Application

VEHICLE insurance will be required to use the Oway Ride Application, according to U Nay Aung, CEO of Oway Ride.
“Drivers working for Oway must hold a valid driver’s licence. Besides, the cars also need to be insured. Our drivers keep the cars to give the excellent service for customers,” he added.
Having car insurance can cover damage caused by accidents, fire and theft. Cars with black vehicle registration plates must pay annual insurance premiums equal to one per cent of the car’s value. Cars with business licences and red or blue plates must pay for insurance premiums equal to 1.4 per cent of the car’s value annually, said Ma Phyu Thant Sin, an agent for Myanmar Insurance.
If a vehicle is totally damaged, the insurance will cover 100 per cent of the car value. If a vehicle is partially damaged, the insurance will pay for injuries, deaths and damages incurred by the other party, plus the cost of repairs.
“Cars with black licence plates cannot buy insurance premiums like the cars with red licence plates. If a person uses his car with black a licence for work, he must pay for 1.5 per cent of the car’s value. We are not authorised to say black licensed cars can be used as taxis or not. This is decided by the Road Transport Administration Department,” Ma Phyu Thant Sin added.
Myanmar insurance will pay compensation for injuries caused by accidents. The beneficiary of the person killed in an accident can get K1 million. Up to K50 million will be given as compensation for a car accident in which the accident damaged a car belonging to another person.
“My car has black plate, and I want to run my car with the Oway Ride Application. But I need to purchase the insurance premium,” said driver Ko Zaya.
The Oway Ride Application includes three types: Standard, Prime and Limo.


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