Fair Price For Car Insurance?

[kjhbigv]

Hi all,

I have just had my renewal for my 1yr old (mean machine) Toyota Yaris 1.5L and the quote was 15k for full insurance. Does this sound reasonable?

I know it's based on the car but seems quite a lot GBP290, I only pay GBP170 fully comp, for a more expensive Audi A3 in the UK!

Think it's a bit of a farce that quotes are not in anyway assessed on an individual eg. I have 8yrs 'No Claims Bonus' in the UK which considerably reduces by premiums on my bikes and car.

In Thailand, I am effectively treated the same as an 18yr old Thai person, who has done the 'extensive and thorough' Thai driving test, compared to me with 20 years driving experience and having passed a UK driving test!

Reckon the insurance companies here have a 'cushy' captive market! You would have thought another insurance company would have seen the opportunity of basing the risk on the individual, rather than the car???

[ThaivisaInsurance]

Hi all,

I have just had my renewal for my 1yr old (mean machine) Toyota Yaris 1.5L and the quote was 15k for full insurance. Does this sound reasonable?

I know it's based on the car but seems quite a lot GBP290, I only pay GBP170 fully comp, for a more expensive Audi A3 in the UK!

Think it's a bit of a farce that quotes are not in anyway assessed on an individual eg. I have 8yrs 'No Claims Bonus' in the UK which considerably reduces by premiums on my bikes and car.

In Thailand, I am effectively treated the same as an 18yr old Thai person, who has done the 'extensive and thorough' Thai driving test, compared to me with 20 years driving experience and having passed a UK driving test!

Reckon the insurance companies here have a 'cushy' captive market! You would have thought another insurance company would have seen the opportunity of basing the risk on the individual, rather than the car???

The premium does not sound too bad but please try Thai Visa for an alternative quotations : Here

There are several ways to lower the vehicle premium - named drivers, deductibles etc, all worthwhile to help keep the premiums down.

As for the NCB - the system of insuring vehicles varies from country to country but in Thailand it is the vehicle not the person insured.

[citizen33]

Just had a quote for my 7 year old Ford Ranger pickup, which I've had with no claims since 2002. This was just over 10K for No 1 - so I would say yours seems quite good. Perhaps mine isn't as good as I thought! I also have a UK car (X-type) that isn't much more to insure.

Edited July 10, 2009 by citizen33

[lor]

Wish I could get good insurance.

Got two quotes. Each say because my car is over 10 years old they can only offer third party cover at 250,000 baht payout per person involved in the accident. Maximum 3 million per claim.

Cost for this insurance was 2,000 baht.

Chris

[torrenova]

Check you valuation. If you haven't, then I guess that the first year cover was 80% and this year will be around 65%. You cannot replace it for that so I'd worry about that first.

Main dealer or not plays a big part. Main dealer can be 50% more than approved repairer.

[msg362]

Hi all,

I have just had my renewal for my 1yr old (mean machine) Toyota Yaris 1.5L and the quote was 15k for full insurance. Does this sound reasonable?

I know it's based on the car but seems quite a lot GBP290, I only pay GBP170 fully comp, for a more expensive Audi A3 in the UK!

Think it's a bit of a farce that quotes are not in anyway assessed on an individual eg. I have 8yrs 'No Claims Bonus' in the UK which considerably reduces by premiums on my bikes and car.

In Thailand, I am effectively treated the same as an 18yr old Thai person, who has done the 'extensive and thorough' Thai driving test, compared to me with 20 years driving experience and having passed a UK driving test!

Reckon the insurance companies here have a 'cushy' captive market! You would have thought another insurance company would have seen the opportunity of basing the risk on the individual, rather than the car???

We have just renewed our 2.0 litre Mazda 3. First year (with Viriya) free, but 22k, second year with NCB 27K!!!!! They say the car is not new so it is more expensive even with a 10% NCB. Looked around, got 19K with LMG, any driver. Max value 750K ( Car cost 1mill). Repairers seems to be an issue and the speed of response from the insurance company can also be a prbolem. I've heard that Viriya are good, but they first have to get their head around the noition that if we drive a car for one year accident free, we expect a reduction in premium, not an increase!!!! TIT!

[torrenova]

We have just renewed our 2.0 litre Mazda 3. First year (with Viriya) free, but 22k, second year with NCB 27K!!!!! They say the car is not new so it is more expensive even with a 10% NCB. Looked around, got 19K with LMG, any driver. Max value 750K ( Car cost 1mill). Repairers seems to be an issue and the speed of response from the insurance company can also be a prbolem. I've heard that Viriya are good, but they first have to get their head around the noition that if we drive a car for one year accident free, we expect a reduction in premium, not an increase!!!! TIT!

I'm going to highlight what is a massive problem here. You have a 12 month old vehicle which is only insured for 75% of the price you paid. I'll have a fair bet that in your first year you were only covered for 80% and that if you had totalled it 1 minute after purchase, on the way home, you'd have lost 20% or in your case Bt200,000 for a 1 minute old car.

I keep banging on about this because there is a solution. I too was offered 80% with Viriya I think on a 800k Isuzu truck but I wanted more and got 90% or perhaps even 95% for an extra Bt1000 payment. This was annotated on the paperwork and when I came to renewal and I also had some mysterious quote and looked around. I was able to get a 2nd year insured amount of about 85% of the new price. In my case and perhaps it is standard, the new insurance company (AXA) wanted to see a copy of the paperwork which showed that I had paid more for the higher insurance and was merely asking them to cover the higher amount. As I was able to prove it, they covered it. I guess that if I had not done it in year one, then I could not have done it in year two. Certainly AA Insurance showed the difference to me at the varying levels of cover.

I just don't get why people risk 20% of their car without even talking. I don't speak anywhere near enough Thai to do it but I was adamant that I would not sign off on 80%.

[BigSnake]

Sound about right to me for Insurance in Thailand, I'm Paying 18500 bt per years(1st class Insurance(3rd party)) for my 2007 4X4. Maybe a bit on the expensive side but I would like to leave home without it. I would also strong suggest that any farangs that on and drive in Thailand have/buy the very best insurance possible and keep the name and telephone number of your agent to call in case of an accident in your car and on your person at all time.

[ThaivisaInsurance]

Wish I could get good insurance.

Got two quotes. Each say because my car is over 10 years old they can only offer third party cover at 250,000 baht payout per person involved in the accident. Maximum 3 million per claim.

Cost for this insurance was 2,000 baht.

Chris

Thai Visa Insurance can offer an 'agreed value' for old cars up to 15 years. Please ask for details : Here

[stingray]

Hi all,

I have just had my renewal for my 1yr old (mean machine) Toyota Yaris 1.5L and the quote was 15k for full insurance. Does this sound reasonable?

I know it's based on the car but seems quite a lot GBP290, I only pay GBP170 fully comp, for a more expensive Audi A3 in the UK!

Think it's a bit of a farce that quotes are not in anyway assessed on an individual eg. I have 8yrs 'No Claims Bonus' in the UK which considerably reduces by premiums on my bikes and car.

In Thailand, I am effectively treated the same as an 18yr old Thai person, who has done the 'extensive and thorough' Thai driving test, compared to me with 20 years driving experience and having passed a UK driving test!

Reckon the insurance companies here have a 'cushy' captive market! You would have thought another insurance company would have seen the opportunity of basing the risk on the individual, rather than the car???

I don't know the prices in UK, but we living in Thailand, so we can't always compare with UK or USA. I only know in USA i pay 430 USD for 6 months (Statefasm) for a upper midsize car (best one i could find). In Switzerland i payd 2200 Swiss (70'000 Baht) per year, on 50% (because no claims) for my Pontiac Trans Am (bigger car more expensive than small one), but this was 20 years ago covered for a third partie only, wich cost me overhere in thailand today about 3'000 Baht a year, inclouding Poraboh (compolstery). So you see the differences between different countries. But in Switzerland repair, labour and rental car (during repairs) are very expensive. In Thailand labour and repair is cheap, rental car assistance not covered at all, Therefore Insurance is cheap, but you can't expect the same service like overseas. You get what you pay for. USA is the dangeroust place to drive a car, in compare with other countries, because americans can sue you for millions in the court, anytime. In USA The best insurance cant help you and you go to jail, if you "hit" the wrong guy.

[katabeachbum]

Hi all,

I have just had my renewal for my 1yr old (mean machine) Toyota Yaris 1.5L and the quote was 15k for full insurance. Does this sound reasonable?

I know it's based on the car but seems quite a lot GBP290, I only pay GBP170 fully comp, for a more expensive Audi A3 in the UK!

Think it's a bit of a farce that quotes are not in anyway assessed on an individual eg. I have 8yrs 'No Claims Bonus' in the UK which considerably reduces by premiums on my bikes and car.

In Thailand, I am effectively treated the same as an 18yr old Thai person, who has done the 'extensive and thorough' Thai driving test, compared to me with 20 years driving experience and having passed a UK driving test!

Reckon the insurance companies here have a 'cushy' captive market! You would have thought another insurance company would have seen the opportunity of basing the risk on the individual, rather than the car???

Depens what a full insurance is

Value of car? 400 or 600?

Bail bond? 100 or 1 mill?

3 rd party damage? 2 mill or 10 mill?

Credit in Toyota garage with new parts? Or do you have to pay a 300k repair yourself and then claim it from the Insurance whitch takes 1-3 months?

[Mike45]

In USA The best insurance cant help you and you go to jail, if you "hit" the wrong guy.

I disagree with you on this point. In the USA I can buy insurance and NOT worry about anything. The insurance is real and will defend me in court and pay out if needed.

My big concern is the Thailand car insurance. One TV member had been involved in an accident and killed someone. The family demanded 14.5 million baht. He spent time in jail because his insurance company would not issue the bail that they had covered him for in his policy. In the end he had no choice but to run back home.

I posted about how to protect myself from this happening to me. NO one could answer it.

[junkofdavid2]

Wish I could get good insurance.

Got two quotes. Each say because my car is over 10 years old they can only offer third party cover at 250,000 baht payout per person involved in the accident. Maximum 3 million per claim.

Cost for this insurance was 2,000 baht.

Chris

Thai Visa Insurance can offer an 'agreed value' for old cars up to 15 years. Please ask for details : Here

What happens if a 15 year old car already has insurance under Thaivisa Axa (2+), and then it suddenly turns 16 years old? The car owner can no longer renew?

[ywamer]

The quote for your Yaris doesn't sound too bad. My 3 year old Yaris cost 19,000 to insure here in Chiang Mai with Mittare Insurance. We purchased directly at a Toyota dealership, hoping (assuming) that the insurance company would pay claims directly to Toyota. But as the policy terms were entirely in Thai, and I never made a claim, I am not sure what exactly would have happened.

I would love to find a policy closer to 15,000. 19k seemed a bit high to me, though it did cover my car at about 90% of the actual value.

[manjara]

I'm paying 7900 this year for No. 2 insurance on an Audi A6, from 2003. This is our second year, so a bit of a reduction from the previous year.

That was a pretty good deal, as I was paying up to 24k for Viriya No. 1 on my Ford Ranger 4x4 a few years ago. Viriya are very good though!

[ThaivisaInsurance]

WW

Wish I could get good insurance.

Got two quotes. Each say because my car is over 10 years old they can only offer third party cover at 250,000 baht payout per person involved in the accident. Maximum 3 million per claim.

Cost for this insurance was 2,000 baht.

Chris

Thai Visa Insurance can offer an 'agreed value' for old cars up to 15 years. Please ask for details : Here

What happens if a 15 year old car already has insurance under Thaivisa Axa (2+), and then it suddenly turns 16 years old? The car owner can no longer renew?

We can renew you up to 20 years old.

TV Insurance

[ignis]

It is the same here as in the UK...

You must shop around.

Number of points... When I got my 1st new car here early 2004, I took my letter of NCB in the UK to a number of Insurance Companies here, lot of different reactions, The Company I went with is a big [GOOD] Thai Company and gave me 30% NCB on the 1st year.. [so took a cash discount from Honda as did not want their insurance] I checked every year prices for the 4 years I had that car, the company I am with was still the best cover and price... I have now for 2 years a over 10yr old Audi A6, I have basically 1st class but is called something like 2nd class + which cost just under 6,000 baht per year.

On the 2008 D-Max, changed last year to a different Company as it appeared better + was over 2,000 baht cheaper, it is that time again and the present Company want 22,400 baht !!! that is up 6,000 baht, [also like the UK loads of Companies start phoning/send letters] asked the old Company the price is 15,600 baht.

So get estimates from lots of Companies, I get them to fax me the full details of the insurance.... +++ many Companies offer interest free payment over 5 - 8 payment if you want, most people do not know this.

Yes as said above DO check what they say the Insured Value of you car/truck is.. some Companies make the insurance look cheap, look again maybe your car/truck is worth 450,000 but the cheap insurance has covered you for only 250,000.. Some insurance Companies will offer another discount if it is NAMED driver/s only

Edited March 29, 2010 by ignis

[stingray]

Foreigners allways forget, WE ARE NOT IN UK, not in US and not in Europe. This is Thailand and 15'k for a fully covered insurance (in that crazy traffic, where almost everyone claims every damages 3 times per year to insurance) isn't bad. There are allways cheaper oprions, but you have to see the coverage is not the same. There again: You get what you pay for! Some insurance covers only 250'k for personal insuries and 2 Mill for property damages for 3rth parties. Usually have to be 1 Million for personal heltcare and 10 Mill for property damages per accident and at least 100'k bailbond.

BTW, i would be happy if i could insure a car for 15'000 Baht per year in my homecountry Switzerland for a fully coverage.

[stingray]

WW

Wish I could get good insurance.

Got two quotes. Each say because my car is over 10 years old they can only offer third party cover at 250,000 baht payout per person involved in the accident. Maximum 3 million per claim.

Cost for this insurance was 2,000 baht.

Chris

Thai Visa Insurance can offer an 'agreed value' for old cars up to 15 years. Please ask for details : Here

What happens if a 15 year old car already has insurance under Thaivisa Axa (2+), and then it suddenly turns 16 years old? The car owner can no longer renew?

We can renew you up to 20 years old.

TV Insurance

For thirt partie only, you can deal with "Akane" Insurance.

10 Mill per claim, 1 Mill per person (for thirt partie) 2 Mill property damages and 100'k bailbond Cost 3'000 Baht include Baraboh (Thai compolstery insuracne) I don't have anything to do with them and i 'm not a brooker either, but i'm in the carbusiness, therefore i know. I have both car insured there and both cars are Americans and about 30 years old. No problem. Anotherone is German Thai in Naqlua (for peaple who living in Pattaya). They use QBE (i have also aonther old car (Benz) insured with them). Insurance is the same but bailbond is 200'k instead of 100'k But this insuracne cost about 6'k per year, but will drop every year, if no claims are made.