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1st Class Insurance on an Older Vehicle

sstuff3

By sstuff3
in Insurance in Thailand

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sstuff3 Senior Member

sstuff3

Posted
Posted

It is time to renew my vehicle insurance and the agent called today to inform me that they will no longer be able to provide 1st Class insurance for my vehicle since it will be 16 years old in 2018.  I have owned the vehicle since 2005 and maintained it in pristine condition.  It is sound inside and out and only gets service work done at the Toyota dealer garage.  She informed me that "no insurance company in Thailand will offer 1st Class insurance for a 16 year old vehicle".  Being a foreigner, I feel that I "need" 1st Class insurance to drive here to avoid the possibility of being extorted in the event of an accident.  I have maintained 1st Class insurance with this same company for the past 12 years with no claims.

Has anyone else dealt with this before?  Are there insurance companies in Thailand that will work with me?  Any advice would be appreciated. 

Antonymous Silver Member

Antonymous

Posted
Posted

What you were told is not true, though indeed most insurance companies won't cover it..

 

Try Thai Sri insurance (well established over 60 years in Thailand). I know someone with a 17 year old car who has 1st class through them and is very happy with their service. Your no claims plus dealer service history should help considerably in your application.

 

 

Antonymous Silver Member

Antonymous

Posted
Posted
1 minute ago, henry15 said:

You can have an first class insurance  for an 1year old car with AXA, but their is an  deductable of 5000 Baht.

Did you really mean to type 1 year old car? Or a car older than 16 years which is what the OP wants?

sstuff3 Senior Member

sstuff3

Posted
  • Author
Posted
What you were told is not true, though indeed most insurance companies won't cover it..
 
Try Thai Sri insurance (well established over 60 years in Thailand). I know someone with a 17 year old car who has 1st class through them and is very happy with their service. Your no claims plus dealer service history should help considerably in your application.
 
 


Thanks for the information. I called Thai Sri and sent them a copy of my current insurance schedule. Just received this reply on email from them:
"We are unable to quote the first class insurance for your truck as requested because the age of the car is over 10 year.  The quotation that we can provide is Third class insurance only."

Waiting for a response from Bangkok Insurance and AA Insurance brokers.

Sent from my SM-G935F using Thailand Forum - Thaivisa mobile app

BuaBS Senior Member

BuaBS

Posted
Posted (edited)

Second class insurance is good too . Enough protection , and a serious accident with a 16 year old second hand car >>> buy another.  Self caused damage is for you , but are you really going to spend much money on the repairs ?

Edited by BuaBS
sstuff3 Senior Member

sstuff3

Posted
  • Author
Posted
Second class insurance is good too . Enough protection , and a serious accident with a 16 year old second hand car >>> buy another.  Self caused damage is for you , but are you really going to spend much money on the repairs ?

The truck is valued at more than 500k baht even at it's age. It is modified and only has 200k kms. Definitely would spend the money to repair it if needed.

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BuaBS Senior Member

BuaBS

Posted
Posted
5 hours ago, sstuff3 said:


The truck is valued at more than 500k baht even at it's age. It is modified and only has 200k kms. Definitely would spend the money to repair it if needed.

Sent from my SM-G935F using Thailand Forum - Thaivisa mobile app
 

A 16 year old truck , still worth 500 K ?

Is it made of gold ?

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smccolley Senior Member

smccolley

Posted
Posted

I'd love first class insurance on my 2004 Chevy Colorado 4 door 4x4. It only has 50k km on it and looks and drives like new since I maintain it. An accident will really cost me, I'd end up spending a million on a comparable new truck. I haven't been able to find it however...

 

Let me know if you find any.

chickenslegs Diamond Member

chickenslegs

Posted
Posted
On 20/10/2017 at 5:05 PM, BuaBS said:

A 16 year old truck , still worth 500 K ?

Is it made of gold ?

 

I was thinking the same thing - but I suppose it depends on the make/model/condition/equipment of the "truck".

 

For example: http://www.bahtsold.com/view/toyota-land-cruiser-turbo-diesel-expedition-on-off-road--215266

Asking price of over 800,000 (now sold) for a more than fully equipped 1996 Toyota Land Cruiser.

 

And, plenty of "ordinary" Land Cruisers around 16-17 years old for a lot more than 500,000 Baht

http://market.doorot.com/EN/new-used/car/toyota/land-cruiser

 

Who'd a thunk it?

BuaBS Senior Member

BuaBS

Posted
Posted
5 hours ago, chickenslegs said:

 

I was thinking the same thing - but I suppose it depends on the make/model/condition/equipment of the "truck".

 

For example: http://www.bahtsold.com/view/toyota-land-cruiser-turbo-diesel-expedition-on-off-road--215266

Asking price of over 800,000 (now sold) for a more than fully equipped 1996 Toyota Land Cruiser.

 

And, plenty of "ordinary" Land Cruisers around 16-17 years old for a lot more than 500,000 Baht

http://market.doorot.com/EN/new-used/car/toyota/land-cruiser

 

Who'd a thunk it?

He didn't say what kind or make of the "truck" . Thai prizes for second hand are often ridiculous. It could be a european luxury "truck" of course.

This one is a 16 year old second hand car , in Thailand with relentless sun , bad roads and Thai kind of maintenance . If it's a Thai made truck , 500k is way off.

sstuff3 Senior Member

sstuff3

Posted
  • Author
Posted (edited)
On ‎10‎/‎20‎/‎2017 at 5:43 PM, smccolley said:

I'd love first class insurance on my 2004 Chevy Colorado 4 door 4x4. It only has 50k km on it and looks and drives like new since I maintain it. An accident will really cost me, I'd end up spending a million on a comparable new truck. I haven't been able to find it however...

 

Let me know if you find any.

Call AA Insurance Brokers.  They offered me 1st Class for my vehicle but would only cover 20,000 baht for the modifications.  If you don't have a lot of modifications, they would be a great choice.

Edited by sstuff3
sstuff3 Senior Member

sstuff3

Posted
  • Author
Posted

Update:  My current insurance company (of 12 years) have received approval from their underwriters to extend the 1st Class coverage for my truck.  Problem solved (at least for another year).

Thanks to all that provided useful feedback.  I appreciate the willingness to help. 

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