Auto Insurance Deductibles

[dannywla]

I was shopping for 2009 cars in Thailand, I have decided to buy a Mazda 3 Hatchback 2009.

I wanted to find out what is the best and highest coverage one can obtain in Thailand. Every dealer tells me a different ratio like 80%, 75%, with a 1,000,000 baht car, and my wife driving, chances are good she will get in a accident sooner and I hate to eat 200,000 baht loss on the repairs.

In USA, it just for example either a $250, or $500 deductible, and easy to understand.

What is the best coverage you have received on a new car, and the premium you pay.

Thank You.

[ozzydom]

The reason for the 80% coverage is that your new vehicle depreciates by about 20% the moment you drive out of the dealership. It is from that moment a used car.

You do not eat anything on repairs as your insurance in this instance covers repairs up to 800k , beyond that ,it is a write off .

Most insurers claim the right to either pay you out or provide a replacement vehicle in case of a write off,its their call.

[ThaivisaInsurance]

Ozzydom is quite right but for Thai Visa members we can obtain a special insurance for new vehicles of 90% of the price.

Please note 80% is usually more than enough to cover any repairs bearing in mind the cost of labour here in Thailand.

[torrenova]

The reason for the 80% coverage is that your new vehicle depreciates by about 20% the moment you drive out of the dealership. It is from that moment a used car.

You do not eat anything on repairs as your insurance in this instance covers repairs up to 800k , beyond that ,it is a write off .

Most insurers claim the right to either pay you out or provide a replacement vehicle in case of a write off,its their call.

OK, when you get your new motor with your "free" insurance they will offer you 80% but you can ask them to raise this and 90% is easily attainable. On our pickup we paid an extra Bt1000, well worth it for another 10% coverage.

Thai Visa is right that if you opt for this at inception then it can be carried over as they did on our vehicle at renewal. I doubt it can be done retrospectively so please get it sorted. You will need the increased value on your paperwork that comes with the car.

As for most insurers opting to buy you a new car or pay you 80% then what do think will happen ? You don't need to be Einstein.

My investigations found that there is no system as per the UK and elsewhere that say in the first 12 months of insurance, the insurer will provide a new vehicle if it is damaged beyond a certain figure. I doubt if they would give you a new one 10 minutes after you drive it away and if it is stolen, then I think you are on the % of cost basis. Some may know different from experience but I found no company who would state this.

As an aside, I am informed that the no claims discounts and the like do not operate as per the "normal" world so please do not expect their insurance to either.

Get it up as far as you can.

[DavidJohnson06]

Hi,

I really liked your post, interesting perspective. I was looking out for the same kind of information. Thanks a lot...