{"id":251068,"date":"2023-10-05T21:40:35","date_gmt":"2023-10-05T15:10:35","guid":{"rendered":"https:\/\/ayasompo.com\/elementskit-content\/dynamic-content-widget-31311b9-5\/"},"modified":"2025-04-09T16:52:34","modified_gmt":"2025-04-09T10:22:34","slug":"dynamic-content-widget-31311b9-5","status":"publish","type":"elementskit_content","link":"https:\/\/ayasompo.com\/en\/elementskit-content\/dynamic-content-widget-31311b9-5\/","title":{"rendered":"dynamic-content-widget-31311b9-5"},"content":{"rendered":"
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What documents are needed for Motor Vehicle Insurance?<\/h2>\n <\/div>\n
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  • Completed Proposal Form<\/li>\n
  • Complete Checklist Items Submission<\/li>\n
  • Vehicle Registration Certificate (Wheel Tax) or IP\/ID Document or Initial RTA registration IP\/ID Document<\/li>\n
  • Driving License<\/li>\n
  • Owner Book<\/li>\n
  • Sale Contract\/Invoice<\/li>\n
  • Car Photos<\/li> <\/div>\n <\/div>\n
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    Do all insurance companies charge the same premium?<\/h2>\n <\/div>\n
    \n Motor Vehicle Insurance is tariff rated i.e., the premium for that cover is being computed based on a formula determined by the insurance authority. This means that all insurance companies are charging the same basic premium for the same cover. <\/div>\n <\/div>\n
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    What is an excess and can you illustrate an example of its application?<\/h2>\n <\/div>\n
    \n An excess is the amount the Insured will have to bear before the insurance company will pay for each and every claim made. For example, if the claim amount is 160,000 MMK and the excess stated on the policy is 100,000 MMK, the amount payable to the Insured will be 60,000 MMK\u00a0. <\/div>\n <\/div>\n
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    What is No Claim Bonus (NCB) entitlement?<\/h2>\n <\/div>\n
    \n NCB entitlement is a discount allowed to the Insured in accordance with a scale determined by the authority, a certain percentage off the basic premium if no claim is made or intimated under the insured's policy and also provided the vehicle is insured continuously for a period of 12 months with the same insurer. <\/div>\n <\/div>\n
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    How much should I insure my car?<\/h2>\n <\/div>\n
    \n You should insure your car on its market value. You can seek local car dealers or showrooms to determine the value of your car. <\/div>\n <\/div>\n \n <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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    Can I transfer my NCB entitlement from one car to another and from another insurance company?<\/h2>\n <\/div>\n
    \n Yes, if the cars are registered in your name, the transfer of NCB earned can be allowed but always bear in mind that you can only enjoy the next level of NCB if your car is insured with the same insurer continuously for a period of 12 months and provided there is no claim made or intimated under your policy in each of the above instances. (Note: You cannot use the same NCB earned to more than one car. NCB is on earned basis by each car upon completion of the continuous 12 months period of insurance with the same insurer. You can transfer your NCB to any car registered in your name as explained above.) <\/div>\n <\/div>\n
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    What should I do if I want to change my car?<\/h2>\n <\/div>\n
    \n You should contact AYA SOMPO Customer Service \u2013 09 777 100 555 or respective sale staffs for changing a vehicle. You would need to fill in the\u00a0endorsement form<\/a>\u00a0and provide the required documents for your new vehicle. The refund or additional\u00a0premium will be charged depending on your new SI.\u00a0 <\/div>\n <\/div>\n
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    What should I do if I want to cancel my policy?<\/h2>\n <\/div>\n
    \n You should contact AYA SOMPO Customer Service \u2013 09 777 100 555 or respective sale staffs for cancellation process. You would need to fill in the cancellation form<\/a>. The premium will be refunded\u00a0depending on the remaining insurance period. <\/div>\n <\/div>\n
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    What is Betterment?<\/h2>\n <\/div>\n
    \n If new original parts are used to repair your vehicle and your vehicle results in a better condition than it was before the damage, you would be required to contribute to its betterment, a proportion of the costs of such new original parts. If No Betterment<\/b> additional cover is purchased by additional premium, the costs of such new original parts will be contributed only by the insurer. <\/div>\n <\/div>\n
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    What is Additional Excess?<\/h2>\n <\/div>\n
    \n Coverage to enjoy premium discount by contributing additional excess amount at the time of claim happens. <\/div>\n <\/div>\n \n <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"author":0,"parent":0,"template":"elementor_canvas","class_list":["post-251068","elementskit_content","type-elementskit_content","status-publish","hentry"],"yoast_head":"\ndynamic-content-widget-31311b9-5 - AYA SOMPO Insurance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ayasompo.com\/en\/elementskit-content\/dynamic-content-widget-31311b9-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"dynamic-content-widget-31311b9-5 - AYA SOMPO Insurance\" \/>\n<meta property=\"og:description\" content=\"What documents are needed for Motor Vehicle Insurance? 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