Bike voluntary insurance - Bail Bond.
I've had bikes for all of my time in Thailand. No insurance claims have been made at any time in my 16 years here on any of my bike insurance policies. No accidents at all. No speeding fines - nothing. Maximum NCB was gained on all vehicles.
For one of my bikes, from 2017/18 to 19/20, BB was 300k฿. It rose on renewal to 1.5m฿ (+400%) for 20/21 to 22/23. All with same insurer, MSIG. In other respects, premiums were good.
In 21/22 bought another bike and sold the old one in 22/23.
The new bike's BB started at 610k฿ in 21/22 and rose to 1.08m฿ (+77%) in 25/26.
The BB on my car has remained at 300k฿ from 15/16 to 25/26. There have been 2 small claims in that time. We have maximum NCB.
Can you give any insight into just how the BB level works? I know it's a legal requirement but it doesn't explain the discrepancy in BB levels for my bike and car at the present time, 25/26. It seems to be just a scheme to allow extra charges. I'd be happy with a 300k฿ BB as for the car but insurers won't allow that level, it seems, for bikes. Am I more of a risk of being held, or absconding, as a bike rider as compared to a car driver?
I've asked insurance brokers to explain in the past but have more-or-less been told "It's the law. Take it or leave it", which isn't really satisfactory.
Thanks.