Select Page

There are many kinds of insurance in Myanmar, namely life insurance, fire, marine, tha-mardi, accident, cash in transit, etc. Among them, only 2.5 percent of motor vehicles are insured compared to the number of cars in Myanmar.
The car accidents and crushing are frequent as the numbers of cars are increasing- say 461,055 in 2012 and 597,839 in 2013 !
“With effect from October 2013, car owners are interested in car insurance than other areas. But the actual insurance is far less than the existing numbers of cars,” said the responsible person of Myanmar Insurance.
The car owner and joint owner as insurer have full cover for the protection of accidents.
“I don’t insure my car. I save my money to repair my car rather than spending on insurance. I’m careful not to occur accidents. If we’ve car accidents, we negotiate each other,” said a taxi driver.
All private-owned cars, trucks, taxi, buses, tractors can be insured. In the insurance process, insurer may choose the period of insurance, the insured amount. The insurance rate is negotiated on the market rate of cars but the car insurance rate is still low.
Source from traveller journal, 14 to 20 – July,2014