Auto Insurance Deductible?

[rideswings]

I got my truck stuck in the mud the other day on the road leading to my house after a fierce rainstorm and while I was trying to get it out, I scratched the 2 drivers side doors, scratched the front bumper and broke the mirror. My wife called the insurance company (Sumitomo or similar Japanese name I think its called) and they sent a tow truck to drag it out of the mud and didnt charge me anything. They told me to take it to Toyota, which I did, but the dealer would not tell me how much it will cost me after he inspected it. I am scheduled to take it in to Toyota again tomorrow morning and it will take 2 weeks to fix. So far I have not paid anything, but Im not sure how much it will cost me in the end, and I dont want a whopping bill awaiting me after the repair is done. My wife does not understand what Im talking about when I asked her what the deductible is, its first class insurance and I dont read or speak much Thai, so Im wondering how much I might have to pay after the truck is repaired.

[JohnLeech]

Why not just phone the insurance company on Monday if you can't get an English speaker today (Sunday), as it varies depending on your policy.

If its a new Toyota pick-up the policy is probably with Aioi Bangkok (Tel 02 620 8000 / 02 203 9770 / 02 677 3999). If s tohe schedule, in English and Thai, shows no deductible for own cover damage.

[rideswings]

Thanks JL, I didnt think of asking for an English speaker. I will call them today.

[MikeyIdea]

My experience is that if you use your insurance and it's your fault, then next years premium won't go down as it should when value of the car goes down or premium actually goes up. Still worth using them I suppose

[ThaivisaInsurance]

Thanks JL, I didnt think of asking for an English speaker. I will call them today.

If it helps, please email a copy of the insurance policy to Thai Visa Insurance and we shall be happy to do a translation and answer any questions.

If you do claim then yes, you will loose your NCB if the claim is 'your fault'.

[neverdie]

No wonder your misses didnt understand what you were talking about, I struggled with some of the terms you American chaps use when talking about cars.

Auto, truck, deductible, trunk and the list goes on.

Is the deductible the same as the insurance 'excess' , ie: the amount you pay as a result of every 'at fault' claim you make. If so, isnt this information listed under excess in your policy document?

I'm not taking the pisse, just trying to understand myself.

[katabeachbum]

No wonder your misses didnt understand what you were talking about, I struggled with some of the terms you American chaps use when talking about cars.

Auto, truck, deductible, trunk and the list goes on.

Is the deductible the same as the insurance 'excess' , ie: the amount you pay as a result of every 'at fault' claim you make. If so, isnt this information listed under excess in your policy document?

I'm not taking the pisse, just trying to understand myself.

Most now charge 2.000 baht if its your fault or if you cant identify the one in fault.

In addition loss of one year 20% No Claim Bonus on this truck

[ThaivisaInsurance]

No wonder your misses didnt understand what you were talking about, I struggled with some of the terms you American chaps use when talking about cars.

Auto, truck, deductible, trunk and the list goes on.

Is the deductible the same as the insurance 'excess' , ie: the amount you pay as a result of every 'at fault' claim you make. If so, isnt this information listed under excess in your policy document?

I'm not taking the pisse, just trying to understand myself.

You are quite correct , deductible = excess and to quote you, 'the amount you pay as a result of every 'at fault' claim you make'

[JohnC]

Interestingly I have just received my renewal notice from AXA and it shows the value of the vehicle dropped by 80,000 baht which is understandable given it is one year older they then show a "20%" no claims discount but the premium is only a couple of hundred baht less than last year! doing the figures show a premium increase of 21.9% for less insurance and a 20% no claims!! If the ncd was applied to last years premium then this year should be nearly 4000 baht less not a few hundred.

Edited September 6, 2010 by JohnC

[katabeachbum]

Interestingly I have just received my renewal notice from AXA and it shows the value of the vehicle dropped by 80,000 baht which is understandable given it is one year older they then show a "20%" no claims discount but the premium is only a couple of hundred baht less than last year! doing the figures show a premium increase of 21.9% for less insurance and a 20% no claims!! If the ncd was applied to last years premium then this year should be nearly 4000 baht less not a few hundred.

not unusual, time to shop around. When you do, dont show your NCB in Axa, just tell them "one year 20% NCB".

[neverdie]

No wonder your misses didnt understand what you were talking about, I struggled with some of the terms you American chaps use when talking about cars.

Auto, truck, deductible, trunk and the list goes on.

Is the deductible the same as the insurance 'excess' , ie: the amount you pay as a result of every 'at fault' claim you make. If so, isnt this information listed under excess in your policy document?

I'm not taking the pisse, just trying to understand myself.

You are quite correct , deductible = excess and to quote you, 'the amount you pay as a result of every 'at fault' claim you make'

THANKYOU sir :jap:

[rideswings]

Thanks everyone for the feedback. The Toyota dealer told us that we will not need to pay anything, we are covered 100% but I guess, from what everyone was saying, we will lose the NCB for next year. The total bill will be around 23,000 baht to fix it. He didnt say anything about a 2,000 baht charge, so I will be prepared for that if it should happen.

TVI - Thank you very much for the offer. I will see if we can get something emailed over to you so I can get some clarification and also talk to you about some other insurance I might need.

Neverdie - Im sorry you had trouble understanding my American terminology. I would be happy to use Google translate to convert American English to Aussie English but it isnt an option. Maybe we could use a Brit as an interpreter.

[JohnLeech]

Thanks everyone for the feedback. The Toyota dealer told us that we will not need to pay anything, we are covered 100% but I guess, from what everyone was saying, we will lose the NCB for next year. The total bill will be around 23,000 baht to fix it. He didnt say anything about a 2,000 baht charge, so I will be prepared for that if it should happen.

If its with Aioi, as it very probably is, the schedule says "deductible" in English about two thirds of the way down the page; if its like mine, its nil.

You will lose your NCB, but even if you didn't you will still probably pay quite a bit more renewing the policy with Toyota's "first year free" companies than you would if you shopped around; most offer a 20% discount automatically.

[JohnC]

not unusual, time to shop around. When you do, dont show your NCB in Axa, just tell them "one year 20% NCB".

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Done that and cheapest that came back was from a company called THAIsri insurance, from personal experience back home I know that cheapest is not always the best so wonder if any members have first hand experience of this company?

Edited September 9, 2010 by JohnC

[Riley'sLife]

ThaiSri is part owned by Zurich I think.

I found Bangkok Insurance to be the cheapest on recent renewal (by more than 20%) for a Vigo. ThaiSiri was about the same as the others that I got quotes from. QBE was the worst and they only allowed 20% for 6 years NCB!!