Fiesta Insurance...Pricey

[ThaiPauly]

Don't know if any of you Fiesta owners out there have had to renew your insurance yet, but my wife has been getting a few quotes this morning and I am gobsmacked at the price.

Cheapest she could find was 22,000 baht for a 1 year old "S" model. I was not paying that much for the BMW I had before and my wife's Captiva although costing twice as much is less.

Insurance companies are saying that spare parts are expensive as their justification. Personally I think all insurance companies are trying to recoup their flood claim losses.

But its something to bear in mind if you are considering buying one, it really eats into the fuel economy savings that the car gives.

However if anyone has renewed and got a better price than 22k PLEASE let me know the details

TP

[Theboy]

Small 'city' cars are more expensive (baht for baht) than larger, say Accords/Camrys etc, simply because they have many claims

[kurnell]

My Fortuner is 18k

[Kwasaki]

Do some more shopping around.

Our 4 year old Yaris is nearly 7000 to insure on top of the compulsory Gov one of coarse.

[aussiebebe]

The phrases that made me shudder were "my wife has been getting a few quotes" and "Insurance companies are saying". It's meaningless quoting premiums without mentioning the specifics, you need a broker, let me google that for you....Don't leave it up to your wife to choose a policy where repairs are through non-dealership garages or the payout is less than the car's value in the event of fire or theft. An independent broker will give you a range of options with as many companies as you request, you decide the level of coverage you require.

[pipo1000]

Do some more shopping around.

Our 4 year old Yaris is nearly 7000 to insure on top of the compulsory Gov one of coarse.

I assume that is 3rd Party only.I think the OP is talking about full coverage insurance.

[stevenl]

Do some more shopping around.

Our 4 year old Yaris is nearly 7000 to insure on top of the compulsory Gov one of coarse.

I assume that is 3rd Party only.I think the OP is talking about full coverage insurance.

That would be a very expensive 3rd party.

[pipo1000]

Do some more shopping around.

Our 4 year old Yaris is nearly 7000 to insure on top of the compulsory Gov one of coarse.

I assume that is 3rd Party only.I think the OP is talking about full coverage insurance.

That would be a very expensive 3rd party.

I think it would be extremely cheap for an full coverage insurance,which I reckon would be about double that price at least.

[stevenl]

Do some more shopping around.

Our 4 year old Yaris is nearly 7000 to insure on top of the compulsory Gov one of coarse.

I assume that is 3rd Party only.I think the OP is talking about full coverage insurance.

That would be a very expensive 3rd party.

I think it would be extremely cheap for an full coverage insurance,which I reckon would be about double that price at least.

4 year old car, cheap car, plus as written: on top of the compulsory (which is 3rd party) insurance. So no, does not sound particularly cheap to me. Plus he already indicated 'on top of', so it really can not be for 3rd party only.

[pipo1000]

I think it would be extremely cheap for an full coverage insurance,which I reckon would be about double that price at least.

4 year old car, cheap car, plus as written: on top of the compulsory (which is 3rd party) insurance. So no, does not sound particularly cheap to me. Plus he already indicated 'on top of', so it really can not be for 3rd party only.

Compulsory insurance is not 3rd party insurance,it cost 600 Baht and covers next to nothing.

In Thailand you can have No 1 insurance which covers everything including own damage, or No 2 insurance which in civilised country's is called 3rd party insurance.

They are something completely different from the cumpolsory insurance.

I guess if you own a car in Thailand you should know this already.

Edited June 6, 2012 by pipo1000

[stevenl]

I think it would be extremely cheap for an full coverage insurance,which I reckon would be about double that price at least.

4 year old car, cheap car, plus as written: on top of the compulsory (which is 3rd party) insurance. So no, does not sound particularly cheap to me. Plus he already indicated 'on top of', so it really can not be for 3rd party only.

Compulsory insurance is not 3rd party insurance,it cost 600 Baht and covers next to nothing.

In Thailand you can have No 1 insurance which covers everything including own damage, or No 2 insurance which in civilised country's is called 3rd party insurance.

They are something completely different from the cumpolsory insurance.

I guess if you own a car in Thailand you should know this already.

I used to work in the insurance branche for more than 10 years, so know much more about it than you'll ever know, Which is, judging from your terminology, misinformation and missing insurance options in your explanation, really easy.

Edited June 6, 2012 by stevenl

[bangkokrick]

Just as a comparison I am paying 24K for a 18 month old Ford escape. I think that you need to shop around as previously suggested.

[pipo1000]

I think it would be extremely cheap for an full coverage insurance,which I reckon would be about double that price at least.

4 year old car, cheap car, plus as written: on top of the compulsory (which is 3rd party) insurance. So no, does not sound particularly cheap to me. Plus he already indicated 'on top of', so it really can not be for 3rd party only.

Compulsory insurance is not 3rd party insurance,it cost 600 Baht and covers next to nothing.

In Thailand you can have No 1 insurance which covers everything including own damage, or No 2 insurance which in civilised country's is called 3rd party insurance.

They are something completely different from the cumpolsory insurance.

I guess if you own a car in Thailand you should know this already.

I used to work in the insurance branche for more than 10 years, so know much more about it than you'll ever know, Which is, judging from your terminology, misinformation and missing insurance options in your explanation, really easy.

You've been working in the insurance branche in Thailand?

You ever owned a car insurance in Thailand?

[stevenl]

You've been working in the insurance branche in Thailand?

You ever owned a car insurance in Thailand?

No, not worked in insurance in Thailand. Not necessary as well, your misinformation already refers to 'in any civilised country'.

Yes, have owned cars here and still own a car for many, many years.

[pipo1000]

You've been working in the insurance branche in Thailand?

You ever owned a car insurance in Thailand?

No, not worked in insurance in Thailand. Not necessary as well, your misinformation already refers to 'in any civilised country'.

Yes, have owned cars here and still own a car for many, many years.

Ok,to end this discussion.

I have owned 6 different new cars over the time I live in Thailand.Going from limousines to pick ups.Including a Yaris,which I owned untill it's 3rd year,and have NEVER paid less than 15000 Baht a year for any full coverage insurance on any of the cars,with zero own risk.

My current 2 year old Nissan pick up is 22.000 Baht to insure.

Of course I can also include an own risk of 20.000 Baht in my policy which will bring down the premium,but that is not called full coverage in my book.

I am in the lowest risk scale,or however this is called in Thailand.

Now do you explain to me why anyone else would pay less than 7000 Baht for a full coverage insurance with zero own risk on a car that is still valued at least 350.000 Baht.

[bino]

Hi Pauly,

Our four year old VIOS costs in the neighborhood of 15 K for first class insurance. We obatin several quotes each year for comparison, but they are almost always in this neighborhood.

As another poster mentioned, there are differences in the policies- IE where the car will be fixed. We always choose the policy that will allow us to get the car repaired by a Toyota dealer instead of a cheaper "independent" body shop.

Another variable mentioned above is the maximum payout if the car is toalled or stolen. We look to ensure that the payout would cover at least the balance of finaincing due, and a downpayment on a new car.

I'd be curious to know what you paid for insurance last year- was it significantly cheaper? We are due to renew in November, will be interesting to see if our costs increase like yours did.

Have you made any claims against the first class coverage, IE your fault, where the insurance company couldn't recover from another party? This will increase your premium if you have a claim history.

Like everyone else says- more shopping is in order because 22 K does sound "OTT". Also- be sure to investigate what you are getting for your money in the policy. The cheapest policy may not be a bargain after all if they are going insist on repairing at Somchai's Autobody instead of a proper shop, or they don't pay out enough to get into another car in a "worst case scenario".

Edited to add another variable mentioned by Pipo above - the deductible. We pay the first 3000 of any claim. If the policy you are looking at has a zero deductible, the price might be as high as you are being quoted.

Edited June 6, 2012 by bino

[Kwasaki]

I think it would be extremely cheap for an full coverage insurance,which I reckon would be about double that price at least.

4 year old car, cheap car, plus as written: on top of the compulsory (which is 3rd party) insurance. So no, does not sound particularly cheap to me. Plus he already indicated 'on top of', so it really can not be for 3rd party only.

Yeah !! your right not 3rd party never said anything about it being 1st class insurance either, last year it was just under 7000 baht, this year, Thanachart insurance which is a good 2nd class cover for our needs, with VAT was 7,195 baht and 645 baht for government compulsory insurance on top, which you don't need if you pay for 1st class insurance.

http://bangkok.angloinfo.com/countries/thailand/carinsure.asp

As for Compulsory as you probably know Stevie boy those saying it's not worth anything are being silly it wouldn't be compulsory otherwise would it, this one is for motorbike.

http://www.e-insurethailand.com/motorbike_compulsory.htm

[stingray]

Do some more shopping around.

Our 4 year old Yaris is nearly 7000 to insure on top of the compulsory Gov one of coarse.

For 7000 Baht it's not a full insurance, it's a 3rth partie special which covers 150'k for your own car maximum. Damages can only be claimed if you have a collision with another vehicle (not with a tree for example)

[pipo1000]

I think it would be extremely cheap for an full coverage insurance,which I reckon would be about double that price at least.

4 year old car, cheap car, plus as written: on top of the compulsory (which is 3rd party) insurance. So no, does not sound particularly cheap to me. Plus he already indicated 'on top of', so it really can not be for 3rd party only.

Yeah !! your right not 3rd party never said anything about it being 1st class insurance either, last year it was just under 7000 baht, this year, Thanachart insurance which is a good 2nd class cover for our needs, with VAT was 7,195 baht and 645 baht for government compulsory insurance on top, which you don't need if you pay for 1st class insurance.

http://bangkok.anglo...d/carinsure.asp

As for Compulsory as you probably know Stevie boy those saying it's not worth anything are being silly it wouldn't be compulsory otherwise would it, this one is for motorbike.

http://www.e-insuret..._compulsory.htm

That's a new one.If you have 1st class insurance you don't need the compulsary .Try to get your car taxed without the compulsory insurance.

I know you didn't mention 1st class insurance in your previous post,but then why did you posted it as the OP was clearly talking about 1st class insurance.

Stingray has already pointed out what your coverage will be, it's third party insurance.

As for the compulsory insurance not covering anything, it indeed covers 100.000 per person but I call this nothing since it will be enough to treat a hurt knee.And you should know that everything over that amount is paid by you.

I know someone who by accident ran over the foot of a pedestrian,and the costs were in the millions,luckily he had 1st class insurance.

[kkerry]

Fiesta Trend, first year 19k, renewal after making a claim 27k. First class insurance.

Considered changing insurers when we got the 27k bill but as we still had a claim in progress we decided to stay with the same insurance company another year.

Be interested to know what ThaiPauly ends up paying after he does some more research. My wife has a cousin who is an insurance salesman and I don't think his price was much cheaper than what we paid for the first year. Parts for some small cars are not cheap and newer models mean you probably require original parts the first year or two if it's not a big seller. Replacing the transmission of the Fiesta cost 100k +

[pipo1000]

Fiesta Trend, first year 19k, renewal after making a claim 27k. First class insurance.

Considered changing insurers when we got the 27k bill but as we still had a claim in progress we decided to stay with the same insurance company another year.

Be interested to know what ThaiPauly ends up paying after he does some more research. My wife has a cousin who is an insurance salesman and I don't think his price was much cheaper than what we paid for the first year. Parts for some small cars are not cheap and newer models mean you probably require original parts the first year or two if it's not a big seller. Replacing the transmission of the Fiesta cost 100k +

Biggest problem is that the first class insurance that comes free with a new car is most of the time is one with reduced coverage.When you apply next year they will offer you the full version,and actually that is also what you want.

Why would you want to pay 5000 Baht less in premium for an insurance policy that covers 100.000 Baht less .

[bino]

Fiesta Trend, first year 19k, renewal after making a claim 27k. First class insurance.

Interesting post / prices here. Convinces me that this high insurance cost is Fiesta specific, if anything. I doubt it is the insurance companies trying to recover their flood claim losses. If that was the case and increased rates were "across the board", the outcry here on Thaivisa would be huge- lots of people posting threads like this to complain about their massive increases.

[Kwasaki]

Do some more shopping around.

Our 4 year old Yaris is nearly 7000 to insure on top of the compulsory Gov one of coarse.

For 7000 Baht it's not a full insurance, it's a 3rth partie special which covers 150'k for your own car maximum. Damages can only be claimed if you have a collision with another vehicle (not with a tree for example)

It's 2nd class insurance.

[Kwasaki]

I think it would be extremely cheap for an full coverage insurance,which I reckon would be about double that price at least.

4 year old car, cheap car, plus as written: on top of the compulsory (which is 3rd party) insurance. So no, does not sound particularly cheap to me. Plus he already indicated 'on top of', so it really can not be for 3rd party only.

Yeah !! your right not 3rd party never said anything about it being 1st class insurance either, last year it was just under 7000 baht, this year, Thanachart insurance which is a good 2nd class cover for our needs, with VAT was 7,195 baht and 645 baht for government compulsory insurance on top, which you don't need if you pay for 1st class insurance.

http://bangkok.anglo...d/carinsure.asp

As for Compulsory as you probably know Stevie boy those saying it's not worth anything are being silly it wouldn't be compulsory otherwise would it, this one is for motorbike.

http://www.e-insuret..._compulsory.htm

That's a new one.If you have 1st class insurance you don't need the compulsary .Try to get your car taxed without the compulsory insurance.

I know you didn't mention 1st class insurance in your previous post,but then why did you posted it as the OP was clearly talking about 1st class insurance.

Stingray has already pointed out what your coverage will be, it's third party insurance.

As for the compulsory insurance not covering anything, it indeed covers 100.000 per person but I call this nothing since it will be enough to treat a hurt knee.And you should know that everything over that amount is paid by you.

I know someone who by accident ran over the foot of a pedestrian,and the costs were in the millions,luckily he had 1st class insurance.

I said to OP shop around and just mentioned what I pay.

2nd class insurance I was pointing out to OP is cheaper what is wrong with that, you want to pay more for your needs fine.

Don't forget to keep up to date.

Edited June 7, 2012 by Kwasaki