Insuring a friends car to use myself

[Bucko]

Hi guys--- I have offer of the use of a fairly new vehicle  for my next holiday-- I do not live in Thailand and will be driving on a N.Z licence with an International Permit as well.

 

The owner -a Thai-- tells me its   "Fully insured for all drivers"  -that well may be if you have a Thai licence--- my question is --would or could I be Insured ?  --  if not -as I suspect --can I purchase an insurance for myself for this vehicle  ?  if so any pointers as to what company ? --- 

 

Thanks

[KhunBENQ]

1 hour ago, Bucko said:

I do not live in Thailand and will be driving on a N.Z licence with an International Permit as well.

That is perfectly legal and does not affect the insurance of the car.

But you might ask your Thai friend whether he only has the compulsory insurance or he has additional insurance ("first class"/"1", "2+", "2" as they are called at Muang Thai company).

The compulsory insurance has a very low coverage and not recommended to rely on.

I don't know whether it is possible to do an additional insurance for a short period. Usually they are annualy and would cost 8000 Baht and more (up to 14000 or so).

Edited March 20, 2018 by KhunBENQ

[Bucko]

Thanks KhunBENQ  --- I will do that ---                

[Jai Dee]

Topic moved to Motoring Forum.

 

/Moved.

[Bucko]

46 minutes ago, KhunBENQ said:

That is perfectly legal and does not affect the insurance of the car.

But you might ask your Thai friend whether he only has the compulsory insurance or he has additional insurance ("first class"/"1", "2+", "2" as they are called at Muang Thai company).

The compulsory insurance has a very low coverage and not recommended to rely on.

I don't know whether it is possible to do an additional insurance for a short period. Usually they are annualy and would cost 8000 Baht and more (up to 14000 or so).

Thanks again--I do know that the vehicle  has a 3 year finance scheme--and the Insurance --I am told is close on 11,000 baht --so would I be right in assuming the Finance Company would insist on First Class cover ?

 

Edited March 20, 2018 by Bucko

[jumbo]

1 hour ago, Bucko said:

Thanks again--I do know that the vehicle  has a 3 year finance scheme--and the Insurance --I am told is close on 11,000 baht --so would I be right in assuming the Finance Company would insist on First Class cover ?

 

Read the policy and it should stipulate the fact that other drivers than the person named in the policy are insured

 

[Bucko]

2 minutes ago, jumbo said:

Read the policy and it should stipulate the fact that other drivers than the person named in the policy are insured

 

Thanks Jumbo --- I assume the policy will be written in Thai --so will have to get an Independent translation to avoid the " important "  bits being lost in translation -- as my friend does not speak English too much ---will jump that hurdle on the day -

[KhunBENQ]

1 hour ago, Bucko said:

and the Insurance --I am told is close on 11,000 baht

If that is the yearly premium then yes, this sounds like a first class insurance.

Very likely for cars on finance (as they also want to cover own damages).

[ferguston]

If you are staying longer than a few weeks, using a Tourist Visa, why not exchange your NZ licence + IDP for a Thai licence ?

Not too  difficult with a Thai address and residency letter from immigration. At the Transport Office close to Pattaya it takes up 1 of your days.

[Mattd]

21 minutes ago, KhunBENQ said:

If that is the yearly premium then yes, this sounds like a first class insurance.

Very likely for cars on finance (as they also want to cover own damages).

It doesn't sound that expensive if it is fully comprehensive (1st class) and a new vehicle, it is normally closer to the 20,000 per year mark for a vehicle costing 700 - 800,000 depending of course on any no claims discount etc.

 

As has been stated, it is important to ensure that the insurance has not been made for named drivers only, it is unusual here for this and the owner seems to say not, but this option is available, so worth checking.

[KhunBENQ]

My first class for a small limousine (640000 Baht) cost about 11000 Baht in 2011 at Muang Thai (biggest insurer).

I am now down to class 2.

Edited March 20, 2018 by KhunBENQ

[Mattd]

8 minutes ago, KhunBENQ said:

My first class for a small limousine (640000 Baht) cost about 11000 Baht in 2011 at Muang Thai (biggest insurer).

I am now down to class 2.

Was that including some no claims discount?

For example, a friend was looking at ordering a new Ford Ranger (814,000 THB) and went out for quotes, all were in the region of 20,000 THB, when he ordered he lucked out as Ford have a promotion whereby the first year is free.

A lot will depend on the make and model of the car, i.e. cost of repair, my German SUV still costs over 45,000 THB with AXA, even with no claims and 3 years old now 

[canthai55]

When shopping for my last new bike, I went to 4 different insurance companies - asked if I could buy insurance for a vehicle that I or an immediate family member i.e. my wife - owned. No problem.

But was told by all 4 that buying insurance for a vehicle owned by others - no can do.

If your friend does not have first class, the most safe option is for you to upgrade his insurance to First Class, with you as an additional driver. Then YOU know you are covered.

Do not rely on the owner, his gardener, his 'friend', the maid, guys at the bar, etc etc etc

[jumbo]

1 hour ago, canthai55 said:

When shopping for my last new bike, I went to 4 different insurance companies - asked if I could buy insurance for a vehicle that I or an immediate family member i.e. my wife - owned. No problem.

But was told by all 4 that buying insurance for a vehicle owned by others - no can do.

If your friend does not have first class, the most safe option is for you to upgrade his insurance to First Class, with you as an additional driver. Then YOU know you are covered.

Do not rely on the owner, his gardener, his 'friend', the maid, guys at the bar, etc etc etc

Have done exactly that for my wife and her car, in her name and insurance on my name with AXA first class insurance, multiple drivers

So no not rely on motorcycle insurers as well???

 

Maybe he has to marry his friend first???

Edited March 20, 2018 by jumbo

[ericthai]

9 hours ago, Mattd said:

Was that including some no claims discount?

For example, a friend was looking at ordering a new Ford Ranger (814,000 THB) and went out for quotes, all were in the region of 20,000 THB, when he ordered he lucked out as Ford have a promotion whereby the first year is free.

A lot will depend on the make and model of the car, i.e. cost of repair, my German SUV still costs over 45,000 THB with AXA, even with no claims and 3 years old now 

I agree when my truck was new (2009) the first 2-3 years (1st year covered by dealer) i was paying around 18,000B a year for 1st class. Cost of the truck was around 700-800K. 

[Suitcase]

15 hours ago, ferguston said:

If you are staying longer than a few weeks, using a Tourist Visa, why not exchange your NZ licence + IDP for a Thai licence ?

Not too  difficult with a Thai address and residency letter from immigration. At the Transport Office close to Pattaya it takes up 1 of your days.

Waste of time to get a Thai license if he is staying less than 3 months as his NZ license is good for 90 days.

[transam]

11,000bht sounds a bit cheap for a new-ish ride and first class cover..

 

I would get your chum to phone the insurance co. and ask if a farang with IDP+ farangland license is covered to drive..Take five minutes and peace of mind..

[Bucko]

On 3/20/2018 at 7:24 PM, ferguston said:

If you are staying longer than a few weeks, using a Tourist Visa, why not exchange your NZ licence + IDP for a Thai licence ?

Not too  difficult with a Thai address and residency letter from immigration. At the Transport Office close to Pattaya it takes up 1 of your days.

Thanks  Ferguston  --    I will be in Issan  --- but certainly worth investigating that option 

[HAKAPALITA]

Thais generally have No1 any driver cover. Its just a few ferang cheap charlies have named driver. Absolute idiots imo.!  Im sure your friend isnt one...

[james.d]

Maybe invest in a cheap dash-cam if you're here for a few months.... just a thought.

Edited March 22, 2018 by james.d

[HAKAPALITA]

3 hours ago, james.d said:

Maybe invest in a cheap dash-cam if you're here for a few months.... just a thought.

Nice thought, but No1 insurance is the only way to be safe.

Dash cams are for TV Ferangs to talk about, Thais dont care as long as theres a payout.

[canthai55]

10 hours ago, HAKAPALITA said:

Dash cams are for TV Ferangs to talk about, Thais dont care as long as theres a payout.

Wrong

Every Thai I know has a dash cam. Every Uber I have been in has a dash cam.

Insurance gives discount if you have a dash cam.

Quit bashing

[HAKAPALITA]

15 minutes ago, canthai55 said:

Wrong

Every Thai I know has a dash cam. Every Uber I have been in has a dash cam.

Insurance gives discount if you have a dash cam.

Quit bashing

And i dont know one who has. so only your observations allowed.Whats an Uber anyway and the discount wouldn buy a descent meal

[transam]

12 hours ago, HAKAPALITA said:

Nice thought, but No1 insurance is the only way to be safe.

Dash cams are for TV Ferangs to talk about, Thais dont care as long as theres a payout.

Dash cams stop the insurance "fiddles" by those who should not be fiddling for a piece of the cake....

[HAKAPALITA]

Its all your choise, i have one, but looking round all the cars at the BMW/Volvo service there are no others parked here with cams,im sorry if my findings here dont suit some folks.

[jumbo]

2 minutes ago, HAKAPALITA said:

Its all your choise, i have one, but looking round all the cars at the BMW/Volvo service there are no others parked here with cams,im sorry if my findings here dont suit some folks.

hard to see if they are parked if they have a built in one and most of the BMW Volvo have built in... except the older ones......

[Mattd]

17 hours ago, HAKAPALITA said:

Its just a few ferang cheap charlies have named driver. Absolute idiots imo.!  Im sure your friend isnt one...

Why would you be a cheap charlie idiot farang if you know that only you are going to be the only driver of the vehicle?

In Europe for example, certainly in the UK, then you pretty much have to go the named driver route.

[transam]

17 hours ago, HAKAPALITA said:

Thais generally have No1 any driver cover. Its just a few ferang cheap charlies have named driver. Absolute idiots imo.!  Im sure your friend isnt one...

Wrong, many Thais ride around with just the gov insurance..

 

In the UK my insurance was always named drivers because of cost and I never let any one drive my rides, exactly the same in LOS..

 

Hows your Honda Click....?  

[jumbo]

13 minutes ago, Mattd said:

Why would you be a cheap charlie idiot farang if you know that only you are going to be the only driver of the vehicle?

In Europe for example, certainly in the UK, then you pretty much have to go the named driver route.

In Europe you truly insure the car and you assume the responsibility that any driver is qualified to drive

In Thailand the insurance company has that burden hence the option

[Mattd]

20 minutes ago, jumbo said:

In Europe you truly insure the car and you assume the responsibility that any driver is qualified to drive

In Thailand the insurance company has that burden hence the option

The way I see it is exactly the opposite to this, certainly with the UK.

There you, as the policyholder, would be the only person that could legally drive the car, unless you choose to name other drivers and in that case the policy would be priced accordingly, i.e. if you named a young, inexperienced driver, the cost would go up considerably. To insure a vehicle for any driver in the UK would be expensive.

Whereas in Thailand the vehicle is insured for any driver by default and you have to specifically ask if you want it to be for named drivers only, in either case the driver would have to be qualified in order not to void the insurance and that responsibility lies with the policyholder, who generally is the owner of the vehicle.

In Thailand the policy cost is not effected by the age or inexperience of the driver, as the insurance company do not stipulate or know who may drive it, one has to assume that risk is already built in to the cost of the policy when they sell it to you.

Edited March 23, 2018 by Mattd