Car Insurance

[Firefan]

Some of my (farang) friends are driving their pick-ups Etc. around having only the compulsery insurance being too cheap to buy the extended version.

I questioned them how much cover was actually in the compulsery insurance and they did not really know, but that would just pay their way out of any costs beyond that - and that they did not care if they did not get cover if their OWN car was a total loss (we are talking some old cars here - so dents/scratches are never repaired and other stuff is fixed at no-brand workshops..).

That sound very risky to me, if they manage to ram a new cool Lexus or similar expensive car! Or if they send somebody to hospital for months or years...

Any ideas/comments as to cover/risk with their approach?

Cheers!

[Tywais]

My understanding is that the compulsary only covers bodily injuries and not either car. Thus hitting that lexus is going to put a BIG dent in his wallet. (oops sorry for the pun)

I have 2nd class insurance because my car is getting a bit old and this will cover damages to the other drivers car. Plus if he hits me, his insurance would (should) cover my vehicle damages. They are taking a very big gamble without it.

Edited September 20, 2005 by tywais

[Crossy]

Corr, only just got his licence, asking awkward questions already

In reply, the compulsory covers basic emergency medical and that's about it, so it stops you (and your passengers, victims etc.) dying

Splash out on at least the 3rd party (which pays for the other vehicle) and get comprehensive (which pays everything) if you have an even reasonably new car.

Edited September 20, 2005 by Crossy

[terdsak_12]

Your "por ror bor" sticker covers you for medical costs you cause/incur, basically a plaster!!! However that's the bare minimum you need. If you smash into the Lexus I guess his insurance would have to cough up for him, if he wasn't covered then tough shit!!!

[Firefan]

He,he - Crossy! Good one! I have driven here for a couple of years before and had the comprehensive insurance myself.

I was not aware that there was the choice that fits between the compulsery and the comprehensive being the 3rd party insurance. Interesting.

How much would that be % wise based on the value of the car. My quick calculation on various comprehensive premiums have been about 4-5% of the value, meaning that a 400.000 B car would cost about 20.000 B/year (+compulsory about 1.000 B and taxes about 2.000 B for standard car).

Cheers!

[terdsak_12]

Fully Comp is usually around 3-4% of the cars value.

[Crossy]

He,he - Crossy! Good one! I have driven here for a couple of years before and had the comprehensive insurance myself.

I was not aware that there was the choice that fits between the compulsery and the comprehensive being the 3rd party insurance. Interesting.

How much would that be % wise based on the value of the car. My quick calculation on various comprehensive premiums have been about 4-5% of the value, meaning that a 400.000 B car would cost about 20.000 B/year (+compulsory about 1.000 B and taxes about 2.000 B for standard car).

Cheers!

3rd party on my 10 year old BMW 325i is 7200Baht (about 1 - 1.5% of value). It covers damage to other vehicles but NOT your own.

I'm pretty sure you can't get comprehensive on vehicles more than 10 years old

[Firefan]

Thanks again Crossy - usefull info for me as I would buy a used car in a price class not really worth the full 4-5% comprehensive insurance - but I do on the other hand not want to have to pay replacement costs for a Porsche I have bumped into!

Cheers!