Is it worth being loyal to car insurance co in Thailand

[davidst01]

The 1st class ins on my pickup is due for renewal. Several months ago a 14 yr old ran up the back of my pickup. We had to accept 1/2 the blame each but my insurance paid all costs (total cost to bkk ins was thb27,000).. Anyways, now my ins plus car tax is thb 32,000. This is 12000 more than last yr I think. Its with Bkk  insurance which is a reputable company with excellent service. 

 

I kind of would like to stay with them but wonder if I should just move on and save 10,000 baht. Is there any point staying with bkk insurance in my circumstances? The guy said if I dont claim during the 12 month period then the premium will go back down to normal levels. 

 

What should I do? 

 

How much do you pay on average including car tax?

[BEVUP]

So I take it the car tax is just the Gov Registration with the compulsary 3 rd party insurance (which should not really change )

Now to the point of your first class insurance

This is why you should never except a 50/50 blame as it all sounds good & proper at the Police station & all parties no doubt saying you have nothing to worry about

Only to discover that your premiums went up due to you admitting that it was half your fault that an unlicensed 14 yr old ran up the back of you so they could max out on your 1st Class insurance at your cost

Well really it cant be 50/50 as the 14 yr old was totally in the wrong with no Ins or Lisc so you wore the lot 

 

Ps : I guess the Ins company couldn't care less if you admitted to 50/50 as it was your claim that paid for all (no 50/50 their )

Edited October 2, 2017 by BEVUP

[grollies]

My missus had a similar experience with a young lad, dad's car, no insurance, ran up the back of our pickup.

 

He didn't stop and a chase ensued with her catching him at a local market. He tried to blame her. Insurers, police and dad turned up.

 

They tried the 50/50 approach and wifey told them to eff off. The police solution was to say dad was driving and his insurer paid in full. No hit on our insurance.

 

B22k for first class insurance and tax seems about right but since you've claimed, of course your premium will go up.

 

I think that as you must disclose previous claims to a different insurer you will end up paying around B32k anywhere. For what it's worth I'd stick with the same insurer if you can't get a much better deal elsewhere.

 

For our car we pay B23k tax & insurance. Why you accepted 50/50 when a 14 year old drove up the back of you beats me.

[BEVUP]

Oh I forgot to mention that maybe you should swap to the Insurance company that had the Rep sort it out after his & your loss

[grollies]

32 minutes ago, BEVUP said:

Oh I forgot to mention that maybe you should swap to the Insurance company that had the Rep sort it out after his & your loss

On second thoughts I agree.

[Rc2702]

Just changed insurers for car today.

 

Viruya was first insurer. 16k 1st class insurance.

 

New one

 

Axa or aka; axa krungthai

 

13585 package is called smart drive.

 

Includes 24 hour breakdown cover - nationwide.

 

Initially I got this quote online but the process seemed sketchy to do so I found axa krung thai shop who quoted the same package but slightly higher 15000 with an unauthorised repair garage and 19000 by an authorised dealership.

 

Once they finished pitch, we explained/showed our quote from the online sales at AXA and they matched it. Maybe 185 baht more than online quote but very pleased with price.

 

 

 

 

 

 

 

 

[jeab1980]

Had to claim for a my fault accident ladt year no other vehicle involved. Cost of repairs was 38k. This year insurance no change in premium.  Rang and asked them if it was correct due to claim. Yes correct anything under 40k we dont count towards no claims loss. So i will stay with them 9.5 k first class with first 5k down to me nation wide breakdown an extra 1.5k if bought at same time. 

[Rc2702]

Just now, jeab1980 said:

Had to claim for a my fault accident ladt year no other vehicle involved. Cost of repairs was 38k. This year insurance no change in premium.  Rang and asked them if it was correct due to claim. Yes correct anything under 40k we dont count towards no claims loss. So i will stay with them 9.5 k first class with first 5k down to me nation wide breakdown an extra 1.5k if bought at same time. 

Seems a great deal. Must be a POS hilander diesel. 

[dotpoom]

12 hours ago, BEVUP said:

So I take it the car tax is just the Gov Registration with the compulsary 3 rd party insurance (which should not really change )

Now to the point of your first class insurance

This is why you should never except a 50/50 blame as it all sounds good & proper at the Police station & all parties no doubt saying you have nothing to worry about

Only to discover that your premiums went up due to you admitting that it was half your fault that an unlicensed 14 yr old ran up the back of you so they could max out on your 1st Class insurance at your cost

Well really it cant be 50/50 as the 14 yr old was totally in the wrong with no Ins or Lisc so you wore the lot 

 

Ps : I guess the Ins company couldn't care less if you admitted to 50/50 as it was your claim that paid for all (no 50/50 their )

Why do you say the 14 yr. old pick up was unlicenced and uninsured.?

    Anyway, in answer to the OP's question. If like back home, your claims record history will be know by all insurance company's when they check if you switch to a new company.

   However, this being Thailand it mught not be the same here?

[henry15]

10 hours ago, Rc2702 said:

Just changed insurers for car today.

 

Viruya was first insurer. 16k 1st class insurance.

 

New one

 

Axa or aka; axa krungthai

 

13585 package is called smart drive.

 

Includes 24 hour breakdown cover - nationwide.

 

Initially I got this quote online but the process seemed sketchy to do so I found axa krung thai shop who quoted the same package but slightly higher 15000 with an unauthorised repair garage and 19000 by an authorised dealership.

 

Once they finished pitch, we explained/showed our quote from the online sales at AXA and they matched it. Maybe 185 baht more than online quote but very pleased with price.

 

 

 

 

 

 

 

 

Already  8 years a very satisfied client with AXA. Had several minor accidents. Also with uninsured 16 year olds without driverslicense because they where Cambodjans. Just called AXA who send the legendary man on a motorbike. He arranged everything. Just had to bring my car to the body shop to fix the damage. BTW, at that moment my car was 11 years old, and still had an first class insurance with 24/7 road assistance. I Pay about 11 000 Bht premium for an Isuzu MU 7 AT 4WD.

 

My bodyshop said they love to work with AXA because they pay on time

[henry15]

40 minutes ago, dotpoom said:

Why do you say the 14 yr. old pick up was unlicenced and uninsured.?

    Anyway, in answer to the OP's question. If like back home, your claims record history will be know by all insurance company's when they check if you switch to a new company.

   However, this being Thailand it mught not be the same here?

Driving a motorcycle, not a pick up

[Minnehaha]

13 hours ago, grollies said:

.......

I think that as you must disclose previous claims to a different insurer you will end up paying around B32k anywhere. For what it's worth I'd stick with the same insurer if you can't get a much better deal elsewhere.

 

....

 

Really?

Must you disclose previous claims to new insurer?

 

This is the 'point' to the OP , as I understand it.

And as I understand it, this is why people change insurance companies ... so they can avoid a rate increase. 

And as I understand it, it works exactly that way. 

 

What am I missing?

[jeab1980]

11 hours ago, Rc2702 said:

Seems a great deal. Must be a POS hilander diesel. 

Not quite sure what a POS is but yes Izuzu Highlander 4 door 2.5 diesal.

[davidst01]

1 hour ago, Minnehaha said:

 

Really?

Must you disclose previous claims to new insurer?

 

This is the 'point' to the OP , as I understand it.

And as I understand it, this is why people change insurance companies ... so they can avoid a rate increase. 

And as I understand it, it works exactly that way. 

 

What am I missing?

I agree. thats why Im tempted to try a new company and save 10,000 baht. Its like im throwing away 10,000 baht if I stay with bkk insruance

[keeniau96]

I would switch and have done so. Now AXA and very satisfied with price, service and the free roadside service if needed, just call the office (I did once for a flat tire).

[1FinickyOne]

why not price it out and see... I have been hit 2x and once there was extensive damage. No cost to me. No increase in premiums. 

[grollies]

2 hours ago, Minnehaha said:

 

Really?

Must you disclose previous claims to new insurer?

 

This is the 'point' to the OP , as I understand it.

And as I understand it, this is why people change insurance companies ... so they can avoid a rate increase. 

And as I understand it, it works exactly that way. 

 

What am I missing?

When you go for car insurance quotes (in the UK at any rate) a standard question is 'have you had any claims in the previous 5 years?'

 

If you lie, have an accident, claim and they find out (they will), your insurance is invalid. The main aim of insurers is to win business and wriggle out of paying up wherever possible.

 

Don't know about over here as we've only insured once. But insurance is due for renewal in a month or two so will have a look at Axa.

 

Thanks OP for a useful topic.

[flexomike]

1 hour ago, jeab1980 said:

Not quite sure what a POS is but yes Izuzu Highlander 4 door 2.5 diesal.

POS-piece of shit

[gandalf12]

13 hours ago, jeab1980 said:

Had to claim for a my fault accident ladt year no other vehicle involved. Cost of repairs was 38k. This year insurance no change in premium.  Rang and asked them if it was correct due to claim. Yes correct anything under 40k we dont count towards no claims loss. So i will stay with them 9.5 k first class with first 5k down to me nation wide breakdown an extra 1.5k if bought at same time. 

Irrespective how much a repair costs, if it was the other drivers fault it shoukd not come off you no claims bonus. Having said that insurance comoanies in Thailand do not understand risk management

[impulse]

10 minutes ago, gandalf12 said:

Irrespective how much a repair costs, if it was the other drivers fault it shoukd not come off you no claims bonus. Having said that insurance comoanies in Thailand do not understand risk management

 

They understand it fine.  But a lot of us don't understand the rest of the cultural influences that affect how they have to operate.

 

[jeab1980]

37 minutes ago, flexomike said:

POS-piece of shit

Oh right well obviously mr Rc2702 wouldnt know his POS from his elbow then.

 

25 minutes ago, gandalf12 said:

Irrespective how much a repair costs, if it was the other drivers fault it shoukd not come off you no claims bonus. Having said that insurance comoanies in Thailand do not understand risk management

I agree but in my case it was my fault.

 

[glasswort]

No and do not lose sight of the fact it is the vehicle that is insured not the driver!

[oldgent]

54 minutes ago, glasswort said:

No and do not lose sight of the fact it is the vehicle that is insured not the driver!

good point, does this mean the drivers name is not kept on record. 

[BEVUP]

10 hours ago, henry15 said:

Driving a motorcycle, not a pick up

Yes it was a 14 yr old kid riding a motorbike, nothing to do with a 14 yr old pick up

[Rc2702]

3 hours ago, BEVUP said:

Yes it was a 14 yr old kid riding a motorbike, nothing to do with a 14 yr old pick up

You picked a 14 year old up?

Steady on pal 

[scorecard]

On 10/3/2017 at 10:00 AM, Minnehaha said:

 

Really?

Must you disclose previous claims to new insurer?

 

This is the 'point' to the OP , as I understand it.

And as I understand it, this is why people change insurance companies ... so they can avoid a rate increase. 

And as I understand it, it works exactly that way. 

 

What am I missing?

 

Our insurance company rep told us her office had to check the national register of previous claims before they could finalize a quote, the quote came within a few hours. 

[NanLaew]

On 10/3/2017 at 10:00 AM, Minnehaha said:

 

Really?

Must you disclose previous claims to new insurer?

 

This is the 'point' to the OP , as I understand it.

And as I understand it, this is why people change insurance companies ... so they can avoid a rate increase. 

And as I understand it, it works exactly that way. 

 

What am I missing?

Some insurance brokers will ask for your previous insurance details, ostensibly to apply any no claims discount one may have earned to your new policy. They are 'transferable'.

Edited October 4, 2017 by NanLaew

[NanLaew]

On 10/2/2017 at 11:42 PM, jeab1980 said:

Had to claim for a my fault accident ladt year no other vehicle involved. Cost of repairs was 38k. This year insurance no change in premium.  Rang and asked them if it was correct due to claim. Yes correct anything under 40k we dont count towards no claims loss. So i will stay with them 9.5 k first class with first 5k down to me nation wide breakdown an extra 1.5k if bought at same time. 

Good to know what insurance company has that claim minimum. Also be interesting to know what you pay annually for that little extra.

 

I think I may be right in assuming that locals have more fender benders and are quite happy to 'roll-up' a whole season of dings and scrapes and get them fixed 'for free' when they have had a more serious fender bender. Some just go ahead and get the whole car 'cleaned up' under an insurance claim where traditionally, foreigners tend to take care of their own prang damage to preserve the lower annual cost of insurance; the hard-earned no claims bonus.. It must be a nightmare for Thai insurers working out the coverage options and prices to make any money while accommodating the locals penchant to have all their sins absolved by the insurer.

[NanLaew]

My advice to the OP is if he's happy with the service so far, then bite the bullet for his mistake but get them to put that 'if no further claims, the premium will revert' assertion in writing.

 

I also recommend that at renewal time, everyone should shop around rather than being lazy and taking what your current insurer is offering. It may be cheaper but another company could be a lot cheaper.

 

Although I am happy with my insurers, I always shop around a couple of weeks ahead of the due date to see what the rivals come up with. I like to maintain a higher residual (total loss value), higher than the industry's standard x%/annum depreciation can offer. For that, I am willing to pay extra but not all insurance companies will consider it.

 

So next year, if the OP has stuck with his insurer, avoided prangs and they have 'forgotten' their pledge, he can take his money elsewhere.

[NanLaew]

On 10/3/2017 at 1:02 PM, impulse said:

 

They understand it fine.  But a lot of us don't understand the rest of the cultural influences that affect how they have to operate.

 

 

Totally agree. As the OP and others have said, in certain "big versus small" accidents the lazy-assed agents will 9 times out of 10 try and push the 50/50, walk-away but you still pay option. It's a sop to the questionable good old days before insurance was mandatory and cops decided who paid how much to whom, usually while sitting in a sala outside the local cop shop. Then there was the non-negotiable fee you paid the cops for 'negotiating' the whole sham. At least that last part seems to have mostly been done away with with the acceptance of the need for proper insurance.

 

As I suggested earlier, the automobile insurance industry here operates a whole helluva lot differently than it does in Spokane, Blackpool or Gundiwindi.