Vehicle Insurance

[Yorkie]

During a discussion earlier this week in the pub, I was surprised to discover that very few farangs were aware of the limits of liability of their motor insurance.

For information, I have scanned the relevant portion of my policy and (hopefully) translated the information therein.

I would be grateful for any assistance if the translation is inaccurate or incorrect.

Y

[maprao]

Your translation is accurate. I am having no end of problems just getting my certificate from the Thai company this time. I suggest you try the Thai Visa insurance they quaoted me 6000 less than I paid the Thai company. The levels of insurance cover are much higher and they will deal with everything in English for you.

[monty]

Is this the compulsory government policy? These are well known for having low levels of coverage.

I'll attach my coverage, third party only, no own damage possible due to the car being over 10 years old!

As you can see, eventhough the total coverage is also 10 million, the per person limit is 4 times higher at 1 million/person!

Funnily, if me and my passengers die, we're only worth 50,000 Each as opposed to Yorkie who seems to be worth 100,000 Baht

But the biggest difference IMO is the medical allowance at 500,000 instead of 50,000. Still not a whole lot, but it'll go quite a bit further!

Bail bond is the same again at 200,000 Baht.

Cost is about 3,300 Baht on top of the 720 Baht government insurance.

Mind you, in 15 years of driving in Thailand I still need to have my first (serious) accident! Touch wood...

P.S. insurer is AIG, with lovely bilingual policies!

[Yorkie]

Yorkie who seems to be worth 100,000 Baht

I wish you would have had said that during my first divorce proceedings!!!

[Yorkie]

Is this the compulsory government policy?

I note that in the Third Party Cover, the limit of liability is over (and above?) the CTPL (Government Compulsory Insurance) limit. Does anyone know the CTPL limits?

Cheers

Y

[ThaivisaInsurance]

Yorkie

You are correct, all voluntary insurances ( 1st , 2nd & 3rd) are ‘extra’ to the CTPL.

Please see below the limit of the CTPL and you will see why it is not worth depending on and why the voluntary insurances are so imoprtant.

Thai Visa Insurance - Compulsory Third Party Liability (CTPL)

In 1992, the Thai government has passed a law that required all vehicles in the Kingdom of Thailand to have an insurance coverage that covers the medical expense of road victims. The law was implemented in April 5, 1993. If an owner of a vehicle fails to have this insurance, he/she will face a fine of THB 10,000 – 50,000.

Coverage of Compulsory Motor Insurance

The compulsory motor insurance only covers bodily injury of the road victims. The property damage is not included. The coverage is divided as followed:

1. Primary Loss

1.1 If the road victim receives a bodily injury, the insurer is subjected to pay for the actual medical expense of the road victim but not exceeding THB 15,000

1.2 If the road victim has lost his/her life, the insurer is subjected to pay the total of THB 15,000 for person.

1.3 If the road victim has received a medical treatment and lost his/her life at a latter stage, the insurer is subjected to pay accordingly to clause 1.1 and 1.2.

2. Loss that exceeds the primary loss

2.1 The insurer is subjected to pay for the excess amount from the primary loss for a bodily injury case but not more than THB 50,000 per person.

2.2 The insurer is subjected to pay for the excess amount from the primary loss for a loss of life case but not more than THB 80,000 per person.

Summary of the Compulsory Motor Insurance coverage

1. Bodily injury maximum THB 50,000/ person

2. Dismemberment maximum THB 80,000/ person

3. Loss of life maximum THB 80,000/ person

Maximum coverage per case

1. Vehicle with less than 7 seats maximum THB 5,000,000/ case

2. Vehicle with more than 7 seats maximum THB 10,000,000/ case

Note : If it is proven that the driver is at fault, the insurer will only responsible for primary loss coverage only

[ihightower]

Hi Guys

I am getting very disparate figures for motor insurance when I ask around.

Could some of you people who visit this forum actually quote how much you pay for auto insurance, the type of car you own, what class, which insurer, etc. This will certainly help out the people out there who wants to get insurance for their cars.

This is what I got for a Toyota Vios 1.5 J New Car (Jan 2008)

Are these figures reasonable?

1st Class cover, named driver, for Toyota is 16,268 Baht

(with a 3,000 Baht deductible. Please note, this does include "Road-side Assist")

2nd Class + 100,000 for own vehicle is 10,000 Baht.

3rd Class + 100,000 for own vehicle is 9,700 Baht.

and someone else said they pay 10K for 1st class insurance. Is this true?

Thank you

[canopus1969]

Sounds about right - a brand new car cover full comp for just 16K