Third Party Liability for Property Damage in Car Insurance

[GiveMeAColdOne]

In my car insurance renewal, I noticed that the limit for "Liability for Property Damage" is only THB 1,000,000 (THB 1M).  Upon checking with several different companies, I've found that this is the normal offered amount.  However, it seems very low to me considering that most cars are easily worth much more than that and an accident may involve multiple cars, etc.  On the other hand, I can't imagine most Somchai's having any more than this.  

 

Is this what most people have?  Also, has anyone been in an accident where the costs exceeded the insurance liability?  If so, what happened?  As a farang, should it be much higher?

 

Advice?

 

 

[Etaoin Shrdlu]

Yes, 1 million baht is not adequate to address an at-fault case where the other party's expensive vehicle is severely damaged or multiple vehicles are damaged. 

 

Typically the owner of an expensive vehicle will have first class insurance covering damage to the vehicle itself. In such cases, the insurance company covering the expensive car will repair the car and then subrogate against the at-faulty party's insurer for the cost to repair up to the limit of liability for property damage under the at-fault party's policy.

 

Depending upon the insurance company's view on the chances of success and the amounts involved, they may then pursue the vehicle owner/driver for any remaining amount. If Somchai has few assets or the amount is not worth the cost and effort to pursue, the insurance company may do nothing.

 

Since Thailand does not mandate any third party liability cover for vehicles, the result is lots of uninsured or underinsured accidents.

 

 

[HauptmannUK]

I agree that most Thai policies are poor - ฿1M is far too low.  About 6-7 years ago a British friend of mine had an accident on the Nakon Nayok road past Rangsit. A car hit him and he ended up colliding with a couple of parked cars. Somehow the police deemed he was at fault. Insurance paid out a certain amount (c฿800k IIRC) and then he was pursued for a further amount - around £20000 equivalent.  He was pretty upset about it and it was a factor in his decision to return to the UK.

[scubascuba3]

20 minutes ago, HauptmannUK said:

I agree that most Thai policies are poor - ฿1M is far too low.  About 6-7 years ago a British friend of mine had an accident on the Nakon Nayok road past Rangsit. A car hit him and he ended up colliding with a couple of parked cars. Somehow the police deemed he was at fault. Insurance paid out a certain amount (c฿800k IIRC) and then he was pursued for a further amount - around £20000 equivalent.  He was pretty upset about it and it was a factor in his decision to return to the UK.

he should have got a lawyer, can't let the police be judge and jury

[JAS21]

We have 5M on both of our cars …hit a Merc S Class and you will need that …

[nigelforbes]

Roojai sells car insurance online, KrungThai Panich is the underwriter and the only company I have found in Thailand that offers 5 mill. liability, all the other insurers moved to 1 or 2 mill., about two years ago..

[mjakob007]

Axa offers 5MB worth of public liability insurance

[nigelforbes]

I am currently renewing insurance on a 2013 Vigo 4 door, I just received this:

 

We are pleased to make you the following offer: 

	MSIG ECO 1	MSIG ECO 2	AIG Happy Choice	TKMS	AXA	Allianz
Coverages:
Third Parties;
Bodily Injury	1.000.000	2.000.000	500.000	500.000	1.000.000	500.000
per Accident	10.000.000	10.000.000	10.000.000	10.000.000	10.000.000	10.000.000
Property Damage	5.000.000	5.000.000	1.500.000	1.500.000	5.000.000	2.500.000
Own Damage	350.000	350.000	400.000	450.000	400.000	400.000
Deductible	5.000 Applied when cannot identify third party of accident	5.000 Applied when cannot identify third party of accident	3.000 Applied both at fault and unknown	0	5.000 Applied both at fault and unknown	5.000 Applied both at fault and unknown
Fire and Theft	350.000	350.000	400.000	450.000	400.000	400.000
Personal Accident	100.000	100.000	200.000	100.000	100.000	100.000
Medical expenses	100.000	100.000	200.000	100.000	100.000	100.000
Bail Bond	300.000	300.000	200.000	200.000	200.000	200.000
Premium Contact garage	9.500	10.500	12.000	13.500	10.300.89	9.128.17
Maximum age of the car	15 Years	15 Years	20 Years	15 Years	15 Years	15 Years
Roadside Service	Yes	Yes	Yes	Yes	Yes	Yes
Policy in English	Yes	Yes	Yes	Yes	Yes	Yes

[GiveMeAColdOne]

2 hours ago, nigelforbes said:

I am currently renewing insurance on a 2013 Vigo 4 door, I just received this:

 

We are pleased to make you the following offer: 

	MSIG ECO 1	MSIG ECO 2	AIG Happy Choice	TKMS	AXA	Allianz
Coverages:
Third Parties;
Bodily Injury	1.000.000	2.000.000	500.000	500.000	1.000.000	500.000
per Accident	10.000.000	10.000.000	10.000.000	10.000.000	10.000.000	10.000.000
Property Damage	5.000.000	5.000.000	1.500.000	1.500.000	5.000.000	2.500.000
Own Damage	350.000	350.000	400.000	450.000	400.000	400.000
Deductible	5.000 Applied when cannot identify third party of accident	5.000 Applied when cannot identify third party of accident	3.000 Applied both at fault and unknown	0	5.000 Applied both at fault and unknown	5.000 Applied both at fault and unknown
Fire and Theft	350.000	350.000	400.000	450.000	400.000	400.000
Personal Accident	100.000	100.000	200.000	100.000	100.000	100.000
Medical expenses	100.000	100.000	200.000	100.000	100.000	100.000
Bail Bond	300.000	300.000	200.000	200.000	200.000	200.000
Premium Contact garage	9.500	10.500	12.000	13.500	10.300.89	9.128.17
Maximum age of the car	15 Years	15 Years	20 Years	15 Years	15 Years	15 Years
Roadside Service	Yes	Yes	Yes	Yes	Yes	Yes
Policy in English	Yes	Yes	Yes	Yes	Yes	Yes

May I ask how you got these quotes?  I'd like to request the same for my car.   These look much better than what I received from LMG.

[nigelforbes]

39 minutes ago, GiveMeAColdOne said:

May I ask how you got these quotes?  I'd like to request the same for my car.   These look much better than what I received from LMG.

AA Insurance Brokers, they have offices in Hua Hin and Pattaya. Please note, the quote is for a 10 year old pickup, named driver, max no claims. Roojai.com came in cheaper and better using Krung Thai (Bank) Panich as the underwirters. Just to compare with the above, insured value 450k, not 350k, max liability in case of death, 5 mill, not 1 or 2, Cost of policy using their own repair shops, 8,900 or 9,900 using dealerships.

[GiveMeAColdOne]

52 minutes ago, nigelforbes said:

AA Insurance Brokers, they have offices in Hua Hin and Pattaya. Please note, the quote is for a 10 year old pickup, named driver, max no claims. Roojai.com came in cheaper and better using Krung Thai (Bank) Panich as the underwirters. Just to compare with the above, insured value 450k, not 350k, max liability in case of death, 5 mill, not 1 or 2, Cost of policy using their own repair shops, 8,900 or 9,900 using dealerships.

Thanks.  I just looked at Roojai and they look much better than what I'm being quoted.  My car is similar to yours except 14 years old and only 250K value.  Thanks for the information, much appreciated!

[NanLaew]

Just renewed online with roojai for a MY2014 Ranger Wildtrak 3.2

 

8,332.66 baht for a year of first class, includes the 645.21 compulsory, roadside assist and replacement vehicle (rental).

 

Two named drivers and roojai shop for repairs.

 

Deductible: 5000.

 

Personal accident, Life, Dismemberment, Permanent Disability

Driver: 500,000

Passenger: 500,000/person

 

Medical expenses: 500,000/person

 

Bail Bond: 300,000/accident

 

3rd party personal: 1,000,000/person. 10,000,000/accident

3rd party property: 5,000.000

 

Own damage: 500,000/accident

Fire and theft: 500,000

 

NCB: 50%

 

Total discounts: 13,368.30

 

Five minute review and renewal including changing some options. One time credit card payment. Email with all 9 documents about two minutes later.

[JAS21]

There is a pinned topic on Roojai … it was hidden for a period but is now viewable … has some useful information.

We have also just renewed insurance on our MY15 3.2Ltr Everest T+ with Roojai.

 

Conditions similar to Nanlaw above … value is 790K with 3000Baht deductible 

 

Paid 10,900Baht inc compulsory insurance and Roadside Assistance. My wife is noted as main driver with anyone else over thirty years old can drive. We do have front and rear car cam which gets you extra discount.

 

Never had a claim on this vehicle.

 

They have an age limit for named driver.

 

Repairs at Dealer Garage of my choice.