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Motorcycle Insurance to Cover Damage to Other Vehicle?


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Hello,

 

I am about to buy a ~10 year old used motorcycle (Honda Click) in Chiang Mai.

 

I have rented motorcycles before and what the Farang owner of the rental shop told me, made me scratch my head and so I want to get to the bottom of this:

 

He said that motorcycle insurance in Thailand covers only personal damage not property damage - so in other words, if someone driving a motorcycle runs into another vehicle the insurance would only cover damage to the passengers of the other vehicle and not the property damage to the other vehicle.

 

I would want to buy insurance for the motorcycle which will be registered under my friends name and I want her and myself be registered as drivers with full liabilty coverage to property and personal damage.

 

Maybe you could give me some hints. 🙂 Thanks.

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You want 1st class insurance, 3rd class is what the guy was talking about, the problem you have is for a 10yo bike you won't be able to get 1st class, many insurers don't cover after 3 years, crazy I know but this is Thailand

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16 minutes ago, scubascuba3 said:

You want 1st class insurance, 3rd class is what the guy was talking about, the problem you have is for a 10yo bike you won't be able to get 1st class, many insurers don't cover after 3 years, crazy I know but this is Thailand

Are you sure that the 1st class insurance covers the property damage of the other vehicle?

 

As far as I know the 1st class insurance covers the damage of the own vehicle.

And as far as I know people have 1st class insurance for exactly that reason: If someone else with no or bad insurance cover damages their vehicle then the own 1st class insurance pays for the damage of the own vehicle.

 

Please correct me if I am wrong.

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Thanks for the hint with Roojai.com:

 

Apparently what I need is 3+ insurance to cover opponents vehicle damage: My quote for a Honda Click 125i 2008 is about 2000 TBH including the 300 TBH compulsory insurance.

 

Expensive but probably worth it. 600.000 TBH property damage included.

Edited by Barley
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43 minutes ago, scubascuba3 said:

You want 1st class insurance, 3rd class is what the guy was talking about, the problem you have is for a 10yo bike you won't be able to get 1st class, many insurers don't cover after 3 years, crazy I know but this is Thailand

for a 10 year old bike is it worth it?,scrap parts all over for it..if its like a car ,its the car thats insured..........keep it in your friends name,just remember his name when taking it in for test

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50 minutes ago, Barley said:

So the dealer includes compulsory insurance with the purchase.

 

Is it ok to take his insurance and then add-on 3+ insurance from Roojai?

3+ doesn't sound correct at all. You don't have to buy insurance with the bike, usually they try and sell you theft insurance which isn't worth it

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1 hour ago, OneMoreFarang said:

Are you sure that the 1st class insurance covers the property damage of the other vehicle?

 

As far as I know the 1st class insurance covers the damage of the own vehicle.

And as far as I know people have 1st class insurance for exactly that reason: If someone else with no or bad insurance cover damages their vehicle then the own 1st class insurance pays for the damage of the own vehicle.

 

Please correct me if I am wrong.

I'm pretty sure, i haven't looked into it for 4 years though, if it doesn't might as well get 2nd class or 3rd class insurance

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Well, here is the copy of the quote.

 

If it isn't what I think (see above) it is, then please let me know.

 

Your advice would be appreciated.

 

And kindly answer:

"So the dealer includes compulsory insurance with the purchase.

Is it ok to take his insurance and then add-on 3+ insurance from Roojai?"

 

 

Roojai Quote Motorcycle Insurance.pdf

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1 hour ago, Barley said:

Well, here is the copy of the quote.

 

If it isn't what I think (see above) it is, then please let me know.

 

Your advice would be appreciated.

 

And kindly answer:

"So the dealer includes compulsory insurance with the purchase.

Is it ok to take his insurance and then add-on 3+ insurance from Roojai?"

 

 

Roojai Quote Motorcycle Insurance.pdf 357.31 kB · 0 downloads

It's ambiguous but I don't think it covers third party damage, see X in the image. As to your question, it depends what the compulsory insurance is? it could be anything, probably the govt compulsory insurance that should already be on the bike so free, about 300 baht for the year, if that's what it is then it's ok to buy additional insurance, many people do, usually 1st class as I said at the beginning

Screenshot_2021-10-19-15-37-03-030_com.adobe.reader.jpg

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1 hour ago, Barley said:

Please check page 3

i saw it, i don't believe it, lost in translation i reckon. Phone if you can, there's a risk they will just say yes to everything so word your questions carefully

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Here is a very good primer on motorcycle insurance in Thailand:

https://www.expatden.com/thailand/motorbike-insurance-thailand/

 

This excerpt explains about covering opponents vehicle damage:

 

3rd Party Property Damage: The whole idea of the 3rd Party Property Damage is similar to collision coverage but only covers the car of the opposing party. This is the selling point of Type 3 coverage because you’ll only need to fix your own motorcycle from the accident without having to worry on the opposing party.

 

So basically instead of 3+ I only need Type 3 coverage. Unfortunately Roojai doesn't seem to offer Type 3, only 3+.

 

So I wonder where else to look for Type 3 insurance.

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17 minutes ago, seedy said:

Why not First Class - it offers so much more

Some insurance companies won't give First Class insurance on motorcycles.

Also no insurance company will insure a bike over 15 years old.

CTPL is the the only cover available for many bike owners.

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54 minutes ago, Kwasaki said:

Some insurance companies won't give First Class insurance on motorcycles.

Also no insurance company will insure a bike over 15 years old.

CTPL is the the only cover available for many bike owners.

My 2001 HD has First Class

Maybe do some shopping

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51 minutes ago, seedy said:

My 2001 HD has First Class

Maybe do some shopping

Did everything in Thailand and a helpful broker tried everywhere for me to try to get a bit more cover than CTPL but as said most won't insure over 15 years old.

They said if the bike has stayed insured we them for many years they extend to 20 years. 

I just hope it doesn't get damaged by someone with no insurance.

The bike I bought is 28 years old and been on road for 2 years now and was off road for nearly 7 years before.

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1 hour ago, Kwasaki said:

Did everything in Thailand and a helpful broker tried everywhere for me to try to get a bit more cover than CTPL but as said most won't insure over 15 years old.

They said if the bike has stayed insured we them for many years they extend to 20 years. 

I just hope it doesn't get damaged by someone with no insurance.

The bike I bought is 28 years old and been on road for 2 years now and was off road for nearly 7 years before.

The question is obviously also how much you would get from an insurance. I wouldn't be surprised if they have a calculation like: 28 year old bike = 2% of original value...

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37 minutes ago, OneMoreFarang said:

The question is obviously also how much you would get from an insurance. I wouldn't be surprised if they have a calculation like: 28 year old bike = 2% of original value...

Exactly, that's why I think increasing liability insurance on an old bike makes the most sense.

 

Actually I find it pretty scary to ride around in Thailand without 3rd Party Property Damage (=property liability) insurance. If you hit an expensive car, that could really hurt your bank book.

Edited by Barley
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First Class offers much more protection - not to YOUR bike/car but to others.

Plus Bail Bond if you really pull a bonehead maneuver.

Along with MUCH higher 3rd party coverage than Class 3 or 3+

Go talk to an agent - or 2 - or 5

After all - it is YOU who will have to pay the brunt of not having it.

Or get sued for the balance - passport yanked, etc

First thing I would do with some yahoo in that situation is file a suit - to ensure he does not leave the country.

Then - watch the fireworks

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49 minutes ago, Barley said:

Exactly, that's why I think increasing liability insurance on an old bike makes the most sense.

 

Actually I find it pretty scary to ride around in Thailand without 3rd Party Property Damage (=property liability) insurance. If you hit an expensive car, that could really hurt your bank book.

If you ride carefully and not like a plonker tourist farang you most likely will be fine, most people just get compulsory insurance only

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1 hour ago, OneMoreFarang said:

The question is obviously also how much you would get from an insurance. I wouldn't be surprised if they have a calculation like: 28 year old bike = 2% of original value...

Yeah I don't expect the same treatment as in UK and it would cost more in UK but no matter how old they will insure a bike. 

 

Thailand different in many ways so CTPL it is a far as Thailand is concerned.

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5 hours ago, Barley said:

Actually I find it pretty scary to ride around in Thailand without 3rd Party Property Damage (=property liability) insurance. If you hit an expensive car, that could really hurt your bank book.

I agree. And I think that is one of the reasons why most (I guess) owners of expensive cars have a first class insurance which will pay when others damaged their property.

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5 hours ago, seedy said:

First Class offers much more protection - not to YOUR bike/car but to others.

Plus Bail Bond if you really pull a bonehead maneuver.

Along with MUCH higher 3rd party coverage than Class 3 or 3+

Go talk to an agent - or 2 - or 5

After all - it is YOU who will have to pay the brunt of not having it.

Or get sued for the balance - passport yanked, etc

First thing I would do with some yahoo in that situation is file a suit - to ensure he does not leave the country.

Then - watch the fireworks

In principal I agree with you.

But I wonder why we don't read stories like that (at least I didn't see them).

If this would be a big issue then I would guess we would hear or read more often about farangs who lost big money because they had to pay for the damage of someone else vehicle. Where are those stories? Or did I miss them all?

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1 minute ago, OneMoreFarang said:

I agree. And I think that is one of the reasons why most (I guess) owners of expensive cars have a first class insurance which will pay when others damaged their property.

The nail on the head most ponkers here can't get their head out of west way of how things are done here. 👍

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7 minutes ago, OneMoreFarang said:

In principal I agree with you.

But I wonder why we don't read stories like that (at least I didn't see them).

If this would be a big issue then I would guess we would hear or read more often about farangs who lost big money because they had to pay for the damage of someone else vehicle. Where are those stories? Or did I miss them all?

i reckon most cars have 1st class, most motorbikes compulsory only. Greater risk of causing damage with a car, plus there is a thing here where the bigger vehicle is more likely to have to pay

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6 hours ago, Barley said:

Actually I find it pretty scary to ride around in Thailand without 3rd Party Property Damage (=property liability) insurance. If you hit an expensive car, that could really hurt your bank book.

Exactly. It was mainly for this reason that I got 1st class bike insurance. Too many precious car owners of their never to be paid for cars. The thought of scratching or denting a Beemer or Benz let alone an Isuzu gave me nightmares. MSIG cover through AAinsure.net was affordable and offered reasonable coverage (3rd party, medical, theft, own damage and compulsory too) for any rider of the bike. Class 2 covers all the above except damage to own bike.

 

Edited by soi3eddie
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