vinny41 Posted March 22 Share Posted March 22 9 minutes ago, JBChiangRai said: Indeed, so you can insure the full battery as you do now, or you can pay a reduced rate, and only insure the battery on a sliding scale. I don't think the new policy is designed that way I would assume anyone that has purchased their vehicle on finance will be required to purchase the additional battery coverage to 100% so in the event of an accident there is funding to replace the battery What we don't know yet if you purchase additional battery coverage to 100% does that mean the battery will be replaced irrespective of the total capital insured amount Everything published so far doesn't mention reduced insurance premiums all it states is reduced battery coverage Thailand's first "EV car insurance", expensive premium based on vehicle price, conditions, co-payment rate if the driver's name doesn't match! https://www.thairath.co.th/money/personal_finance/insurance/2752308 1 Link to comment Share on other sites More sharing options...
JBChiangRai Posted March 23 Share Posted March 23 You can slide and dice it any way you like but what it really means is your insurance can continue as before covering the whole battery or you can pay a reduced rate, and have the battery covered only partially. 1 1 Link to comment Share on other sites More sharing options...
vinny41 Posted March 23 Share Posted March 23 1 hour ago, JBChiangRai said: You can slide and dice it any way you like but what it really means is your insurance can continue as before covering the whole battery or you can pay a reduced rate, and have the battery covered only partially. You understand that the EV insurance for EV for the period prior to 1st January 2024 was simply based on insurance coverage for ICE vehicles but since there was a number of EV claims that hit the headlines last year they have redesigned how EV insurance is covered hence why they are calling the new policy Thailand's first electric car insurance policy or EV car insurance (2024) will also be enforced this year. It was also found that although the price trend of electric vehicle insurance premiums in 2024 may gradually decrease in the future. But it may still be higher than general car insurance premiums in the same price range. https://www.thairath.co.th/money/personal_finance/insurance/2752308 and that is why they have stated Set depreciation to decrease by 10% per year until a minimum of 50% (from the 5th year onwards). If you change a new battery You can request additional protection. (There is an additional insurance premium) Yes you can keep the battery coverage at 100% but for that you will pay for an additional insurance premium if you choose not to pay the additional insurance premium then the battery protection will decrease by 10% each year as outlined above Link to comment Share on other sites More sharing options...
vinny41 Posted March 23 Share Posted March 23 Insurance companies warned of higher risks in covering electric vehicles During a meeting with members of Thai General Insurance Association, OIC assistant secretary-general Apakorn Panlerd urged insurers to employ risk management strategy in handling EV cases as EVs operate differently from internal combustion engine (ICE) vehicles and therefore carry higher risks. Apakorn said insurers must carefully consider all related details before providing the insurance, as well as set a suitable premium rate that reflects the true risk of the product. He said companies should also keep in mind that EVs use different parts than ICE vehicles, and certain parts may not be readily available in the market. https://www.nationthailand.com/thailand/general/40035598 This prices seem expensive to me https://www.lotussmoney.com/car-insurance/ev Link to comment Share on other sites More sharing options...
JBChiangRai Posted March 23 Share Posted March 23 44 minutes ago, vinny41 said: You understand that the EV insurance for EV for the period prior to 1st January 2024 was simply based on insurance coverage for ICE vehicles but since there was a number of EV claims that hit the headlines last year they have redesigned how EV insurance is covered hence why they are calling the new policy Thailand's first electric car insurance policy or EV car insurance (2024) will also be enforced this year. It was also found that although the price trend of electric vehicle insurance premiums in 2024 may gradually decrease in the future. But it may still be higher than general car insurance premiums in the same price range. https://www.thairath.co.th/money/personal_finance/insurance/2752308 and that is why they have stated Set depreciation to decrease by 10% per year until a minimum of 50% (from the 5th year onwards). If you change a new battery You can request additional protection. (There is an additional insurance premium) Yes you can keep the battery coverage at 100% but for that you will pay for an additional insurance premium if you choose not to pay the additional insurance premium then the battery protection will decrease by 10% each year as outlined above 30 minutes ago, vinny41 said: Insurance companies warned of higher risks in covering electric vehicles During a meeting with members of Thai General Insurance Association, OIC assistant secretary-general Apakorn Panlerd urged insurers to employ risk management strategy in handling EV cases as EVs operate differently from internal combustion engine (ICE) vehicles and therefore carry higher risks. Apakorn said insurers must carefully consider all related details before providing the insurance, as well as set a suitable premium rate that reflects the true risk of the product. He said companies should also keep in mind that EVs use different parts than ICE vehicles, and certain parts may not be readily available in the market. https://www.nationthailand.com/thailand/general/40035598 This prices seem expensive to me https://www.lotussmoney.com/car-insurance/ev And I keep finding fluff on my bedsheets in the morning. It’s most annoying. Link to comment Share on other sites More sharing options...
jaideedave Posted March 23 Share Posted March 23 On 3/15/2024 at 12:11 PM, Crossy said: I've fettled the topic title for a bit more clarity. It's worth noting that used cars tend to hold their value here. So, if you intend keeping it a long time, it may actually pay to buy new. C...That was my conclusion also. 2 years ago I was in the market.I found several used cars w low kms in lots online but they all wanted us to finance. Thats where they made their money. The difference between new and 1-2 yrs old was so little I decided to buy the new model. We got a 2021 Toyota Yaris Hatchback which we are very happy with. Smallish engine but suits our needs perfectly. My HD engine had larger displacement. 555 Link to comment Share on other sites More sharing options...
xylophone Posted April 6 Share Posted April 6 On 3/16/2024 at 5:26 PM, transam said: Yep, for the money a Suzuki is hard to beat....... You might be interested in this article from the New Zealand Herald newspaper, Trans............ Suzuki NZ tops Canstar Blue customer satisfaction: more 5-star ratings than other 10 brands combined https://www.drivencarguide.co.nz/news/suzuki-nz-tops-canstar-blue-customer-satisfaction-more-5-star-ratings-than-other-10-brands-combined 1 Link to comment Share on other sites More sharing options...
transam Posted April 6 Share Posted April 6 2 minutes ago, xylophone said: You might be interested in this article from the New Zealand Herald newspaper, Trans............ Suzuki NZ tops Canstar Blue customer satisfaction: more 5-star ratings than other 10 brands combined https://www.drivencarguide.co.nz/news/suzuki-nz-tops-canstar-blue-customer-satisfaction-more-5-star-ratings-than-other-10-brands-combined A cheap basic car, it does what it says on the tin, hard to beat if a runaround is all you need...🤗 1 Link to comment Share on other sites More sharing options...
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