Yes, all insurance companies charge the same basic premium for identical coverage because Motor Vehicle Insurance is tariff-rated. The premium is computed based on 0.9% to 2.5% of the Sum Insured (Vehicle Market Value), a strict formula determined by the local insurance authority, ensuring industry-wide uniformity.

A No Claim Bonus (NCB) is a premium discount rewarded to drivers who do not make any insurance claims during a continuous 12-month policy period. This discount scale is determined by the insurance authority and requires you to maintain continuous coverage with the same insurer without any reported incidents. The discount scales are as follows:

- Private Vehicles: 25% (2nd Year), 30% (3rd Year), and 40% (4th Year onwards).

- Commercial Vehicles: 15% (2nd Year), 20% (3rd Year), and 25% (4th Year onwards).

You should insure your car for its current market value. It is important not to over-insure or under-insure the vehicle beyond its actual market price to ensure a smooth claim process.To determine an accurate valuation for your policy, you can consult local car dealers, automotive showrooms, or market valuation experts.

Yes, you can transfer your NCB entitlement to any car registered in your name, but it can only apply to one vehicle at a time. To qualify for the next NCB discount tier, the vehicle must be continuously insured with the same company for 12 months without any claims. NCB is earned on an individual vehicle basis and cannot be duplicated across multiple cars.

To change the vehicle on your policy, contact AYA SOMPO Customer Service at 09 777 100 555 or reach out to your sales representative. You will need to complete an endorsement form and submit the required documentation for your new vehicle. Your premium will be adjusted (resulting in either a refund or an additional charge) based on your new Sum Insured (SI).

To cancel your policy, contact AYA SOMPO Customer Service at 09 777 100 555 or your dedicated sales staff to initiate the cancellation process. You will be required to fill out a cancellation form. Any premium refund will be calculated proportionally based on the remaining period left on your insurance policy.

Betterment is your financial contribution toward new original parts if a repair leaves your vehicle in a better condition than before. Your contribution is calculated based on the vehicle's age (e.g., 15% contribution for a 5-year-old vehicle). To avoid these costs, you can purchase the "No Betterment" additional cover rider, requiring the insurer to pay 100% of the parts cost.

An additional Excess is an optional policy agreement where you agree to pay a higher out-of-pocket amount during a claim in exchange for a lower upfront premium discount. For example, contributing an additional MMK 200,000 excess can provide a MMK 25,000 premium discount, MMK 300,000 excess can provide a MMK 35,000 discount, while a MMK 500,000 excess can provide a MMK 60,000 discount.

No, it varies based on the vehicle's current market value and policy terms.

No limit. Anyone with a valid driving license can be added as an authorized driver.

It becomes effective immediately after the premium payment is successfully made.

No, EVs are currently not accepted, subject to future company decisions.

The policy remains valid, but the owner must notify AYA SOMPO of the address change.

Insurance which provides financial compensation for unexpected own vehicle damage and third-party liabilities.

Own vehicle damage (accident, fire, malicious acts, transit), third-party liability, and personal accident benefits.

Classified as Private and Commercial with Premium Rate ranging from (0.9% to 2.5% of the total market value)