Yamaha Nouvo Elegance - Insurance

[TCA]

Planning to buy my Nouvo Elegance 135cc tomorrow and just checking out bike insurance and quotes thereof, so I have something to compare to when the Yamaha dealer offers up something.

I don't want fully comprehensive and from what I'm gathering, if I want a policy covering theft, then this is cheapest coming direct from the dealer. i.e. the difference between and third class and second class policy from a broker is more than the cost of separate theft coverage from a dealer, which appears to be around 1,500 baht for 2 years (word of mouth).

So given this, I'll probably opt for separate dealer coverage for theft plus broker third party cover or take the whole package offered by the dealer if it's better.

I've been quoted 3,446 per year (exc CPTL) for third party coverage from a broker (Thai Sri policy), which includes:

Bodily Injury or Death - 1m baht person/10m baht per accident

Property damage - 1m baht

Personal Accident benefit (for driver and 1 passenger) - 100,000 baht per person

Accident Medical Expenses (for driver and 1 passenger) - 50,000 baht per person

Bail Bond - 200,000 per accident

Any advice on the subject would be welcome.

Thanks

TCA

[jackcorbett]

It's ironical that you should ask. I am paying for my new motorbike insurance at 6 p.m. tonight. The agent is coming to my condo.

I'll post again, the exact details of what I' m getting.

Edited October 27, 2009 by jackcorbett

[TCA]

Thanks Jack. Very much appreciated.

[jackcorbett]

Thanks Jack. Very much appreciated.

There are two separate policies. Just got the paperwork back and paid the premium. The first is the general motorbike policy. If I got this right the coverage extends to 10,000,000 baht per accident. Both my passenger and I would get up to 50,000 baht for personal injuries. Property damages for damaged vehicles, etc goes to 200,000 baht. And third party personal injuries go to 100,000 baht per person. Interesting to note that human life is considered to be less valuable than property here. My cost was 2400 baht per year. That's with Southeastl Insurance Group.

The second policy is with Viriyah Insurance. And it costs 860 baht per year. This is for anti-theft and it covers my Nouvo Elegance up to 43,000 baht if it's stolen. I got both policies through a broker, a Thai woman my German condo co-owner friend has known for several years. My friend admitted he has no idea of how reliable the company is on claims telling me with a smile, "We won't know until one of us has a claim." I had been with B.P. Insurance before but had let my policy lapse. My friend had an accident. A motorbike taxi driver swept across several lanes of traffic on 2nd Road near Big C and knocked his motorbike down, then just kept going. He had his motorbike laid up in what he calls a third rate shop for a very long time. From what my friend told me the manager of the Pattaya branch did not want to pay for new parts on his bike. For example, if a comparatively expensive part was damaged the shop would try to burnish it with a machine and pass it off for new, but of course it looked shoddy. I don't think he had a problem on his medical injuries. Then when it came time for him to renew his policy the local office tripled his premium. He made it very clear to me that all his problems were with the manager of the local Pattaya office.

Once again, the most important thing my condo fellow co-owner stressed was the bail bond provision of the policy. What could happen is you have an accident and it's not even your fault. The policy are summoned and you wind up in the monkey house and then the games begin. You cannot get out until you meet the asking price of those who see money coming from rich falang. (I should follow this post with a couple of interesting little stories about milking rich falang).

Edited October 28, 2009 by jackcorbett

[ThaivisaInsurance]

Planning to buy my Nouvo Elegance 135cc tomorrow and just checking out bike insurance and quotes thereof, so I have something to compare to when the Yamaha dealer offers up something.

I don't want fully comprehensive and from what I'm gathering, if I want a policy covering theft, then this is cheapest coming direct from the dealer. i.e. the difference between and third class and second class policy from a broker is more than the cost of separate theft coverage from a dealer, which appears to be around 1,500 baht for 2 years (word of mouth).

So given this, I'll probably opt for separate dealer coverage for theft plus broker third party cover or take the whole package offered by the dealer if it's better.

I've been quoted 3,446 per year (exc CPTL) for third party coverage from a broker (Thai Sri policy), which includes:

Bodily Injury or Death - 1m baht person/10m baht per accident

Property damage - 1m baht

Personal Accident benefit (for driver and 1 passenger) - 100,000 baht per person

Accident Medical Expenses (for driver and 1 passenger) - 50,000 baht per person

Bail Bond - 200,000 per accident

Any advice on the subject would be welcome.

Thanks

TCA

Average premium although Thai Visa Insurance can offer 3rd party for 2,839 Baht.

Please note : do not depend on the 50,000 baht of medical expenses as that will go nowhere in a nasty accident - be sure to have a medical policy for yourself.

[jackcorbett]

Planning to buy my Nouvo Elegance 135cc tomorrow and just checking out bike insurance and quotes thereof, so I have something to compare to when the Yamaha dealer offers up something.

I don't want fully comprehensive and from what I'm gathering, if I want a policy covering theft, then this is cheapest coming direct from the dealer. i.e. the difference between and third class and second class policy from a broker is more than the cost of separate theft coverage from a dealer, which appears to be around 1,500 baht for 2 years (word of mouth).

So given this, I'll probably opt for separate dealer coverage for theft plus broker third party cover or take the whole package offered by the dealer if it's better.

I've been quoted 3,446 per year (exc CPTL) for third party coverage from a broker (Thai Sri policy), which includes:

Bodily Injury or Death - 1m baht person/10m baht per accident

Property damage - 1m baht

Personal Accident benefit (for driver and 1 passenger) - 100,000 baht per person

Accident Medical Expenses (for driver and 1 passenger) - 50,000 baht per person

Bail Bond - 200,000 per accident

Any advice on the subject would be welcome.

Thanks

TCA

Average premium although Thai Visa Insurance can offer 3rd party for 2,839 Baht.

Please note : do not depend on the 50,000 baht of medical expenses as that will go nowhere in a nasty accident - be sure to have a medical policy for yourself.

I have Bupa for myself. However, if I got this straight, Bupa covers only 50 % of the personal injury costs to oneself incurred in a motorbike accident. This should give everyone here food for thought. Here's another. Bupa will cover me for both illness and accident in every country in the world except in the U.S. I am covered by Bupa for accident but not illness in the U.S. Now.....truth is the U.S. has the highest priced health care in the world. So Bupa considers 1. Motorcyles to be slightly more dangerous than facing the firing squad and 2. the U.S. being the worse place in the world to get sick in as far as its having to pay outgageous amounts of money. Here's another one......if I remember this one correctly. Per mile driven the risk of getting killed on a motorbike in the U.S. is roughly 33 times greater than it is being in a car. Now, I doubt if there's any accurate statistics at all here in Thailand but from what I've seen of the way people driving here in Pattaya I'd say the risk of getting killed on a bike here in Pattaya must be at least several times what it is a motorbike in the U.S. So yes, I agree with you wholeheartedly that 50,000 for either my girlfriend or myself won't even scratch the surface.

Edited October 28, 2009 by jackcorbett

[Lite Beer]

You may get some more help here.

[TCA]

Average premium although Thai Visa Insurance can offer 3rd party for 2,839 Baht.

Please note : do not depend on the 50,000 baht of medical expenses as that will go nowhere in a nasty accident - be sure to have a medical policy for yourself.

I presume this policy is this one here:

http://insurance.thaivisa.com/our-products...-insurance.html

If so, the cover for third party injury or death is only 100,000 baht, which I don't think would be anywhere near enough to cover liability in the event of an accident. For another 600 baht, I can have cover of 1m baht and the damage to property cover is also 1m baht. Personal accident cover is doubled.

My above quote came from another branch of AA Insurance and was through Thai Sri. Can you confirm this is a valid quote?

[TCA]

There are two separate policies. The first is the general motorbike policy. If I got this right the coverage extends to 10,000,000 baht per accident. Both my passenger and I would get up to 50,000 baht for personal injuries. Property damages for damaged vehicles, etc goes to 200,000 baht. And third party personal injuries go to 100,000 baht per person. My cost was 2400 baht per year. That's with Southeastl Insurance Group.

The second policy is with Viriyah Insurance. And it costs 860 baht per year. This is for anti-theft and it covers my Nouvo Elegance up to 43,000 baht if it's stolen.

Cheers Jack. I bought the bike today (same colours as yours) and will update on another thread. I'll be going the same route as you with 2 policies. Your third party coverage and price looks similar (a bit cheaper but less property damage cover) to what Thai Visa are offering. I still like the look of the policy I quoted above, which although is more expensive has more coverage. I took the theft insurance offered by the garage (2 years) which cost 1,800 baht (200 baht dearer than another dealer but it evened out elsewhere). 80% back if stolen in year 1 and something like 50% or 60% in year 2. They couldn't even tell me which and I got no paperwork other than a receipt. At that point I didn't care as it was quite an arduous experience. I'll elaborate on another thread re that too.

[ThaivisaInsurance]

Average premium although Thai Visa Insurance can offer 3rd party for 2,839 Baht.

Please note : do not depend on the 50,000 baht of medical expenses as that will go nowhere in a nasty accident - be sure to have a medical policy for yourself.

I presume this policy is this one here:

http://insurance.thaivisa.com/our-products...-insurance.html

If so, the cover for third party injury or death is only 100,000 baht, which I don't think would be anywhere near enough to cover liability in the event of an accident. For another 600 baht, I can have cover of 1m baht and the damage to property cover is also 1m baht. Personal accident cover is doubled.

My above quote came from another branch of AA Insurance and was through Thai Sri. Can you confirm this is a valid quote?

The quote is quite correct and as you feel happy with the level of cover then all is well.

[BSJ]

TCA: 80% back if stolen in year 1 and something like 50% or 60% in year 2.

That's not very satisfactory for either the first or second year. For extra baht can you get a better percentage?

As an example, for the year I intend living in Patters I would like a Tiger 250cc motorbike. They are about 72.000baht. If it got stolen in the first year all I get back is 57.600baht. So I am out of pocket 14.400. So much for being the victim! If I stay a second year I could loose 36.000baht. Holy cr@p!

[GungaDin]

TCA: 80% back if stolen in year 1 and something like 50% or 60% in year 2.

That's not very satisfactory for either the first or second year. For extra baht can you get a better percentage?

As an example, for the year I intend living in Patters I would like a Tiger 250cc motorbike. They are about 72.000baht. If it got stolen in the first year all I get back is 57.600baht. So I am out of pocket 14.400. So much for being the victim! If I stay a second year I could loose 36.000baht. Holy cr@p!

If that's the usual deal, then it's not a deal... my bike is supposed to be del tomorrow and am looking for 1st class ins.

80% Chryst!

[GungaDin]

Average premium although Thai Visa Insurance can offer 3rd party for 2,839 Baht.

Please note : do not depend on the 50,000 baht of medical expenses as that will go nowhere in a nasty accident - be sure to have a medical policy for yourself.

I'll second that.

7 years ago a broken leg and one night in a normal BKK hospital cost 120,000 baht plus outpatient fees which were low.

How much now!

[Gobbledoc]

I bought a used bike form a dealer who put Red Plates on the back of it, and said come back in a week to get the white one and the registration paper work. Are these red plates 'dealer' plates?

Is the bike effectively registered at the moment?

I spose I have to wait 1 week before can get insurance.

[ThaivisaInsurance]

I bought a used bike form a dealer who put Red Plates on the back of it, and said come back in a week to get the white one and the registration paper work. Are these red plates 'dealer' plates?

Is the bike effectively registered at the moment?

I spose I have to wait 1 week before can get insurance.

You say the bike is 'used' so it has been registered before? Do you have a copy of the registration book ?