Is the dealership insurance for a new car good enough?

[Sandboxer]

Edit: I just realized there's a dedicated insurance section. Mods, please move. Sorry.

 

Sorry, probably total noobs question but I can't find a sticky on the basics of the insurance system/products on this board.....

 

So I bought my first car (new, at Toyota dealership) and they told me I'd get the first year of insurance for free.

 

Ok, great, I heard this is standard procedure.

 

But what exactly will this cover?

 

If not that great, can I "upgrade" the dealer insurance by paying more for additional coverage?

 

Or just find a different company altogether? In this case, what is the best/most reputable carrier?

 

Is it the best of the best in the sense of maximum available coverage? Specifically, coverage in case of injury/death of other people. I don't care too much about my car nor my own medical as I have top tier int'l coverage for any situation.

 

Or can I "upgrade" the dealer insurance by paying more for additional coverage? 

 

Thank folks.

 

 

 

 

Edited August 31, 2023 by Sandboxer

[KannikaP]

I got insurance 'included' in the price of my Toyota when it was new, 11 years ago. Nothing is 'free', someone has to pay for it.

No idea how it, or any insurance policy, is any good until a claim is made

Edited August 31, 2023 by KannikaP

[transam]

Great if it's free, just look at the policy when it is handed over, then make your own decision. ????

[Sandboxer]

9 minutes ago, KannikaP said:

Nothing is 'free', someone has to pay for it.

Yea, bad choice of words on my part. I meant 'included."

Edited August 31, 2023 by Sandboxer

[KannikaP]

6 minutes ago, Sandboxer said:

Yea, bad choice of words on my part. I meant 'included."

A bit like 'free shipping' on Lazada orders. 

[EVENKEEL]

I'd have to say it's very good insurance. Find out which body shop takes care of repairs. Usually the Ins has a dedicated shop.

[KhunLA]

6 minutes ago, EVENKEEL said:

I'd have to say it's very good insurance. Find out which body shop takes care of repairs. Usually the Ins has a dedicated shop.

Agree, and had when buying Toyotas, and was good coverage.

@Sandboxer

When buying our Mazda, since already having insurance to carry over (not Toyota's), passed on the 'free' insurance offered, which of course lowered the sale price ฿15k.  No free lunches.

[Skeptic7]

Toyota is the #1 top selling automaker and is not going to rip you off. First Class auto insurance is pocket change here, compared to the USA. Certainly it is Class 1 and highly reputable. 

[rwill]

The free policy they give you with a new vehicle are the more expensive ones.  Depending on the vehicle you get can cost you over 20K to renew the next year.  The dealers have people that will call you when it is time to renew to sell you a new policy.

[DiDiChok]

When I bought a new Honda City RS they said the first year's insurance was included free.  So I went through it with a toothcomb looking for the flaws as I have always had my own first class (read that as UK comprehensive) insurance.  Knowing Thailand, I soon found them.  The first class insurance in Thailand is based on the car's declared value.  If you are aware of this then you ask to adjust the value downwards every year and consequently pay less and less.

 

If you don't bother to revise the value yearly, then the vehicle price remains static and so you waste money by paying the same premium every year.  You may think that it is kind of the Company not to increase the premium, but that is not so.

 

To make the "included insurance" seem a good deal and be inside the budget set by his Company, the individual salesman had reduced the declared purchase value of the car to the insurer.  The additional "Extras" ordered for the car had also not been included.  Once the total value was revised properly and a supplement was paid, I became much happier.  Just don't take what any salesman says for granted and that includes insurance salesman.

[The Theory]

It must be a "1st class" insurance for a new car. It is usually max coverage for a new car, even though you buy a car in cash. I believe you can renew a 1st class for 7 years if you want to continue with the highest coverage and bodily damage is fixed for "class" of insurance. 
 

Edited September 1, 2023 by The Theory

[alien365]

28 minutes ago, rwill said:

The free policy they give you with a new vehicle are the more expensive ones.  Depending on the vehicle you get can cost you over 20K to renew the next year.  The dealers have people that will call you when it is time to renew to sell you a new policy.

My 1 year insurance is about to run out with Tisco for my Ranger. They quoted over 20k so I asked for a 5k deductible. They said they don't have policies with deductibles????. Back to Roojai I go then at the end of the year for less than 10k (with the 5k deductible). The total sum insured is 100k less but there's better coverage for everything else. It won't be able to cover the cost of crashing in to a Rolls Royce, but a Merc won't be a problem. 

[PattayaKevin]

Had a Mazda exwife got in an accident they paid all 2.5 million to fix the 650,000 baht car after it should have been totaled, but the adjuster said its almost fixed. Took them about 8 months almost the entire car had to be replaced until it was drivable again. 

[motdaeng]

8 hours ago, The Theory said:

It must be a "1st class" insurance for a new car. It is usually max coverage for a new car, even though you buy a car in cash. I believe you can renew a 1st class for 7 years if you want to continue with the highest coverage and bodily damage is fixed for "class" of insurance. 
 

we have cars that are 10 years old and have had first-class insurance from the beginning.

for the past few years, we have been using roojai insurance ... 

[EVENKEEL]

I understand you can save a bit by getting different ins. Roojai is all online, which I dislike and the repair shop was a ways away. I bought the lesser Ins at the place where I renew registration. My truck rolled into my gate and damaged 1/4 panel. My insurance wouldn't cover it because it was self inflicted. Bill was 9K, so nothing saved by being cheap on the ins.

[cauldlad]

I bought an MG 10 months ago which also included three years 'free' insurance.

 

The first claim was for damaged paintwork which was my fault. Came to 40,00bt. The insurance guy came out looked at the car and authorised the repairs. I had to pay 1000bt excess.

 

The second claim also damaged paintwork was not my fault. Again the insurance guy came out and authorised the repairs. This time there was no excess to pay ( presumably because it was not my fault)

 

Those two claims were within the first eight months of the first year.

 

I guess it depends on how good the insurance company is?

 

I am sure after three years the renewal price will take into account these two claims and any other claims within this three year period.

[topt]

13 hours ago, DiDiChok said:

If you don't bother to revise the value yearly, then the vehicle price remains static

This is definitely not true for all Insurers. My value of my car gets reduced every year with Axa for example.

[Road Warrior]

On 8/31/2023 at 10:11 AM, transam said:

Great if it's free, just look at the policy when it is handed over, then make your own decision. ????

AGREED MG do approved 1st class insurance  just check the wording on policy 

[FoxXwave]

You can definitely explore upgrading the dealer insurance by paying extra for additional coverage if that suits your needs. Alternatively, shopping around for a different insurance company is also an option.