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JUDAS

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Judas

Please understand it does not matter where the Broker and their offices are located – in the event of an unfortunate incident all insurance companies use a 'Hot Line' for the initial contact.

On the face of it this sounds all well and good but in actual fact this is where the majority of insurance companies fall down.

Thai Visa Insurance is a full licensed Broker and so offers their clients the best of insurance companies – those who do respond to problems and who do have a proper 24/7 English speaking hotline.

So, please use the Thai Visa Insurance services :

http://insurance.thaivisa.com/quote-form

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  • 2 weeks later...
Time to renew my pick up insurance and not overly happy with current policy as only offers 80% cover on the truck's value! Any recommendations of brokers in Surin / Buriram greatly received :o

I've been banging this drum for 2 years so please, people listen up !

The "free" insurance you get when you buy a vehicle seems to only cover 80% of the new cost. Thus, you drive off the forecourt and have a total loss and you are out of pocket 20% !

Thailand does not appear to have replacement vehicle as part of the first 12 month's insurance.

Thus, you can only get the limit raised when negotiating before you buy (or decline their insurance and get some cash off).

We were offered 80% on an 800k truck. I would not accept that and wanted 100%. That was nt possible but we did get 90% or perhaps even 95% by paying an extra Bt1000. This was recorded not only on the insurance but on the contract and sales agreement with the garage.

Mathematically it works (should work) like this:

Value 800k

Insurance price (even if free) 20k

Coverage 80%

Thus you are covered for 640k and will lose 160k !

Therefore 640/20 = 32 which means that each Bt1000 of premium (discounting admin and taxes etc.) covers 32k.

You want an extra 10% =- 80k, then 80/32=2.5 so the extra Bt80,000 "should" cost Bt2500. 15% would cost Bt3750. Theoretically.

However, as you move to 100% insurance, the marginal cost for the extra % is lower and thus, you may pay only an extra 1k for an extra 10% or 15%.

Upon renewal, your broker will use your original documentation to prove to a potential new insurance company that yu paid for the higher % the previous year.

TVI did this for us and at a lower premium with a guaranteed value that I am happy with.

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