Seeking A Reality-Check On My Experience Arranging Motor Vehicle Insurance

[kawtot]

Hi folks,

Would prefer to hear about the experiences of insurees (rather than from brokers or industry rep’s) since I am an insuree.

Went to a well-known brokerage in Chiang Mai for comprehensive motosai insurance. Premium was an extraordinary 23% of motosai value.

Although I offered proof, no forms of premium adjustment were available for:

Bundling policies, e.g. with existing contents and personal effects cover

Age of driver (e.g. over the usual insurance threshold of 25yo)

Driver history (e.g. no offences in decades)

Only a nominated-driver (me) will be using the vehicle

Current “maximum no claim bonus for life” on vehicle insurance in previous country of residence

Does this really reflect the state of the motor vehicle insurance industry, or insurance brokerage, (or both) in Thailand?

Will it cost me about 150,000B when I want to insure a car in a few months?

Cheers,

KT

PS: According to Forum Rules, I don’t think I can mention the name of the brokerage.

[sevenhills]

1 year registration and full insurance on standard 110cc motorcy is around 750 Baht. Go back to the dealer that you bought it from with your green book and they will handle it for you. Takes about 2-3 weeks to get your book back.

Car Insurance should never cost you 150,000 Baht. (30.000 Baht on a 2m baht vehicle is what I last paid)

They have seen a farang (you) and will try to make the most of it. But TIT.

[kawtot]

1 year registration and full insurance on standard 110cc motorcy is around 750 Baht. Go back to the dealer that you bought it from with your green book and they will handle it for you. Takes about 2-3 weeks to get your book back.

Car Insurance should never cost you 150,000 Baht. (30.000 Baht on a 2m baht vehicle is what I last paid)

They have seen a farang (you) and will try to make the most of it. But TIT.

I got compulsory third party insurance through the dealer for about 400B, but its very basic and covers little.

I just noticed the quote sheet calls it 'Class 1 Insurance', which is what they call 'comprehensive' where I grew up - covers all sorts of events and liabilities. Back home comprehensive insurance was about 17% of the vehicle value, but all the deductions I mentioned above brought it down to 3.5%.

Edited September 17, 2010 by kawtot

[JoePai]

1 year registration and full insurance on standard 110cc motorcy is around 750 Baht. Go back to the dealer that you bought it from with your green book and they will handle it for you. Takes about 2-3 weeks to get your book back.

Car Insurance should never cost you 150,000 Baht. (30.000 Baht on a 2m baht vehicle is what I last paid)

They have seen a farang (you) and will try to make the most of it. But TIT.

Fact - you will not get full insurance for 750 Baht - you may get just the basic Government insurance (which is not worth the paper it is written on).

Fact - when you buy insurance you do not leave your green book - you keep it with you at all times.

[sevenhills]

1 year registration and full insurance on standard 110cc motorcy is around 750 Baht. Go back to the dealer that you bought it from with your green book and they will handle it for you. Takes about 2-3 weeks to get your book back.

Car Insurance should never cost you 150,000 Baht. (30.000 Baht on a 2m baht vehicle is what I last paid)

They have seen a farang (you) and will try to make the most of it. But TIT.

Fact - you will not get full insurance for 750 Baht - you may get just the basic Government insurance (which is not worth the paper it is written on).

Fact - when you buy insurance you do not leave your green book - you keep it with you at all times.

Fact: With registration you do leave the book

[JoePai]

1 year registration and full insurance on standard 110cc motorcy is around 750 Baht. Go back to the dealer that you bought it from with your green book and they will handle it for you. Takes about 2-3 weeks to get your book back.

Car Insurance should never cost you 150,000 Baht. (30.000 Baht on a 2m baht vehicle is what I last paid)

They have seen a farang (you) and will try to make the most of it. But TIT.

Fact - you will not get full insurance for 750 Baht - you may get just the basic Government insurance (which is not worth the paper it is written on).

Fact - when you buy insurance you do not leave your green book - you keep it with you at all times.

Fact: With registration you do leave the book

Registration has nothing to do with insurance - that is what you green book is, a Registration Book ! We are talking insurance here.

[wandrinstar]

I use BMW Insurance from the Dealer,as my Wife does with Honda,very good they renew it for you each year,not expensive like the U.K. I checked,.AIS was no Cheaper, the rest more expensive.

[mkawish]

Both of you are correct but in different ways!

They are not the same thing.

But you surely do need your book to reg or to renew or to apply for a new reg !

I went to traffic court once two yrs ago because I thought I already have my valid insurance.

But the police pointed to the circular shape on the windshield which expired at a different date. darn.

1 year registration and full insurance on standard 110cc motorcy is around 750 Baht. Go back to the dealer that you bought it from with your green book and they will handle it for you. Takes about 2-3 weeks to get your book back.

Car Insurance should never cost you 150,000 Baht. (30.000 Baht on a 2m baht vehicle is what I last paid)

They have seen a farang (you) and will try to make the most of it. But TIT.

Fact - you will not get full insurance for 750 Baht - you may get just the basic Government insurance (which is not worth the paper it is written on).

Fact - when you buy insurance you do not leave your green book - you keep it with you at all times.

Fact: With registration you do leave the book

Registration has nothing to do with insurance - that is what you green book is, a Registration Book ! We are talking insurance here.

[Theo007]

Try Safety Insurance.