Auto Insurance Woe

[Benjie]

We currently have all four of our company automobiles insured by Phoenix Insurance, 3 Months ago one of our drivers had an accident in one of our pickups.

We've now spent the last 3 months trying to find out what exactly is happening with this insurance company and have been given nothing but the runaround from stage one. The garage we were asked by the insurer to take the pickup too told us they had a huge backlog of unpaid work from the insurer and wouldn't be starting work on any of the fixes until they received payment.

From what I can gather the Insurer (Phoenix) seems to have gone under or lost their funding source and either another company or the government is now slowly moving in to solve the problems.

However I still have a smashed up car thats been sitting in a garage for 3 months and 3 other cars insured by the same company.

Has anyone else had this or similar experience or know anything about Phoenix?

Also I'm thinking that we would probably be wise to re-insure the cars with a more reputable firm in the meantime, Most of our insurance is only in the 4th month or so and it would be expensive but I'm guessing that we wouldn't be able to receive a refund from Phoenix if they are bankrupt.

[katabeachbum]

We currently have all four of our company automobiles insured by Phoenix Insurance, 3 Months ago one of our drivers had an accident in one of our pickups.

We've now spent the last 3 months trying to find out what exactly is happening with this insurance company and have been given nothing but the runaround from stage one. The garage we were asked by the insurer to take the pickup too told us they had a huge backlog of unpaid work from the insurer and wouldn't be starting work on any of the fixes until they received payment.

From what I can gather the Insurer (Phoenix) seems to have gone under or lost their funding source and either another company or the government is now slowly moving in to solve the problems.

However I still have a smashed up car thats been sitting in a garage for 3 months and 3 other cars insured by the same company.

Has anyone else had this or similar experience or know anything about Phoenix?

Also I'm thinking that we would probably be wise to re-insure the cars with a more reputable firm in the meantime, Most of our insurance is only in the 4th month or so and it would be expensive but I'm guessing that we wouldn't be able to receive a refund from Phoenix if they are bankrupt.

There are hundreds of auto insurance companies in LOS and only 7 of them has a credit for repairs at Toyota Phuket. One of my Vigos came with a free insurance from Toyota K motors BKK. They didnt have credit at any other garage in LOS. I payed the repair myself and luckyly recieved a check from the insurance company 2 months later. You may not be that lucky.

I would check with the maindealers for your cars in your are which insurance comanies pay repairs in time, and choose one of them.

[ThaivisaInsurance]

We currently have all four of our company automobiles insured by Phoenix Insurance, 3 Months ago one of our drivers had an accident in one of our pickups.

We've now spent the last 3 months trying to find out what exactly is happening with this insurance company and have been given nothing but the runaround from stage one. The garage we were asked by the insurer to take the pickup too told us they had a huge backlog of unpaid work from the insurer and wouldn't be starting work on any of the fixes until they received payment.

From what I can gather the Insurer (Phoenix) seems to have gone under or lost their funding source and either another company or the government is now slowly moving in to solve the problems.

However I still have a smashed up car thats been sitting in a garage for 3 months and 3 other cars insured by the same company.

Has anyone else had this or similar experience or know anything about Phoenix?

Also I'm thinking that we would probably be wise to re-insure the cars with a more reputable firm in the meantime, Most of our insurance is only in the 4th month or so and it would be expensive but I'm guessing that we wouldn't be able to receive a refund from Phoenix if they are bankrupt.

We are very sorry to hear of your problems with this company. Please email Thai Visa Insurance and we will search out the correct numbers for you to contact for recourse.

This is a very timely reminder to all that, although there are over 70 insurance companies in Thailand, not all of them are necessarily 100% safe. Do please go via a reputable Broker - ask for their Brokerage license numbers from the O.I.C. and check if you are not sure. It costs no more to go via a Broker but we do hear of things from time to time so in the long run may save you money and grief - cheapest is not always best !

In the mean time to everyone, why not use Thai Visa Insurance, you know we are on your side

[Benjie]

As an update we were told the car repairs would be started on a couple of months ago and would take 4-6 weeks, We called into the garage recently and the repairs have still not been started. The car has now been off the road since July.

[thaiericsweden]

You should not be delayed because of financial problems of the insurance company.

Go to the nearest Office of Insurance Commission and register a complaint against Phoenix Insurance.

The OOIC helps all customers that have problems with insurance companies and speeds up the settlement.

I have assisted many times as a translator at the local OOIC office and I have seen first-hand that they really help customers that are being badly treated by insurance companies.

Here is the web address

http://www.oic.or.th

Sorry but it is only in Thai, ask a friend to help you read it.

Click in the blue column on the left of the page, second from the bottom is a listing of provincial OOIC offices.

[neverdie]

Im not sure if you need to be told this either, but if I were in that situation I would quickly cancel the 3 remaining insurance policies and organise something new, most likely through a new broker. Just a thought, would hate to see you two cars down.