Can Someone Explain Scooter Insurance

[flying]

Can someone explain what is the free insurance they give when buying a new scooter? Paraball Insurance<sp?>

What does it cover? I think I understand it is government medical insurance for 15k coverage?

I was also shown some prices (1400THB for 1 year ) additional insurance which ( I think ) they said

repays 95% of price for theft for first year & reducing I think? Plus I think it is also to cover damage to

other persons vehicle?

Anyone able to shed some light on this?

What do most here buy for scooter insurance?

Appreciated

Edited June 16, 2012 by flying

[taichiplanet]

The compulsory insurance with registration only covers injury (death?) expenses to a 3rd party (so not you, and maybe not passenger on your bike).

Briefly (and i hope i got these correct!), other insurances are basically broken down onto 3 classes

1st Class insurance: covers everything including theft, fire, repairs to other vehicles/property and repair to own bike even if your fault, increased coverage of injuries/deaths etc

2nd Class insurance: covers theft, fire, repairs to other vehicles/property but not repairs to your bike, increased coverage of injuries/deaths etc

3rd Class insurance: increases coverage of injuries/death to both parties, repairs to other vehicles involved (but not yours), but no theft or fire coverage

The important thing for farangs is that all 3 classes have bail bond; so if you are in an accident, you call the insurance company and they send a rep out to the crash scene and if the cops want to throw you in jail (maybe someone died) the insurance company will pay bail to keep you out. Well worth the extra cost.

Honda dealers do usually a 2 year theft insurance for about 4500 on new bikes, which isn't bad. Sometimes insurance through the new bike dealers are very competitive, or you can contact any of the insurance companies direct, or go through a broker like AA Insurance (which i use), or even Sumet Cycle can give a good deal on insurance for some bikes (PM Brian).

Edited June 16, 2012 by taichiplanet

[flying]

Thanks Taichiplanet!

Very thorough explanation

Much appreciated