First Class Insurance For Big Bikes

[Neilly]

Thaisri do insurance for big bikes but is aimed at the expensive stuff...400k and up

http://www.thaisri.com/product_detail.php?content=MTY2

[BlackArtemis]

Ok, for 12,800 they'll cover my bike to 140,000B with 5000B deductible and 500k vs 900k bail. The rest is similar to AA. Going to read reviews of AA (LMG) and MSIG (Falcon) and decide. AA is winning so far with coverage and communications. I've felt like I've had to work for the right to have MSIG cover me.

[BlackArtemis]

Err missed that extra 0 on my iPod's tiny screen, 5million bail bond insurance, up to 2million vs 500k of LMG for injuring/killing others

I will reply back and see if they will bring up the cover amount closer to 180k, as it seems there are quite a few gripes with LMG on the forum as one poster suggested I look into.

[Ticketmaster]

BA, get AA to give you a quote of 1st class insurance from several different companies, including some of the ones you listed. Prices and coverage options will change. Make me' work a bit harder.

I won't even bother listing all the possible situtations that could, and some have, happen to those that have only the required minimal insurance. Risk does add to the excitment.

Thanks for the idea.

And I agree, the bike has been parked for almost 2 weeks as I sort this out, it's painful to pass each day as I get on my Honda dream, but it's the smart choice...

BA, get AA to give you a quote of 1st class insurance from several different companies, including some of the ones you listed. Prices and coverage options will change. Make me' work a bit harder.

I won't even bother listing all the possible situtations that could, and some have, happen to those that have only the required minimal insurance. Risk does add to the excitment.

Thanks for the idea.

And I agree, the bike has been parked for almost 2 weeks as I sort this out, it's painful to pass each day as I get on my Honda dream, but it's the smart choice...

Parked? You've got to be an American. I would bet my last baht on it.

[BlackArtemis]

BA, get AA to give you a quote of 1st class insurance from several different companies, including some of the ones you listed. Prices and coverage options will change. Make me' work a bit harder.

I won't even bother listing all the possible situtations that could, and some have, happen to those that have only the required minimal insurance. Risk does add to the excitment.

Thanks for the idea.

And I agree, the bike has been parked for almost 2 weeks as I sort this out, it's painful to pass each day as I get on my Honda dream, but it's the smart choice...

Parked? You've got to be an American. I would bet my last baht on it.

And?

Anyways update:

I went with MSIG (Falcon) insurance

~13k/year

160k of my 180k value is covered with a 5k deductible.

Liability

2million per person

10million max

1million property

100k for passeneger or me

5million for bail bond

It was a better deal than LMG, but I want to state that dealing with Peter from AA was a breeze. He answered all my questions quickly and promptly, I simply chose the best insurance plan for me, not the bet insurance broker.

I hope this thread helps some others in the future

[mania]

Anyways update:

I went with MSIG (Falcon) insurance

~13k/year

160k of my 180k value is covered with a 5k deductible.

Liability

2million per person

10million max

1million property

100k for passeneger or me

5million for bail bond

Interesting Mine with same folks (MSIG)was 9776 baht per year

Physical damage fire/theft

130k fire theft on my 157k value with 5k deductible

Liability

500k each person

10 million each accident

Property 2.5 Million coverage

Personal Accident

50k rider or passenger death dismemberment etc.accident insurance

50k each person medical insurance ( two persons )

300k Bail Bond

Looks like the big differences in ours is the bail bond & property insurance amounts

Edited May 11, 2013 by mania

[BlackArtemis]

So depending on how you split the coverage it seems it is within 3k baht.

Odd note, the originally stated the value as 140k, I asked it to be raised to 160k, they did so with no change in premium.

[Ticketmaster]

So depending on how you split the coverage it seems it is within 3k baht.

Odd note, the originally stated the value as 140k, I asked it to be raised to 160k, they did so with no change in premium.

Probably because they worked into their risk calculations that you are farang. Every Thai insurer knows that Thai big bike riders have far and away the lions share of accidents. When they can rope in a farang with an expensive bike, it is usually a pretty good bet. And because it is the Thais that have 95% of the big bike accidents upon which the carriers are basing premiums, it is a horrible bet for a farang, who is subsidizing the inexperienced Thai big bike riders.

By the way, as to all my comments about risk here and in other places, I was an ambulance chasing lawyer in Alaska before coming to Thailand. I spent my career fighting with the likes of Allstate and State Farm. To understand how they work, one has to study their actuarial and other methods of risk calculation. Although my feeling is that it is an evil enterprise overall (my opinion), given the way they treat people, the insurance industry is nothing, if not a giant number cruncher. They have super computers into which have been fed all the risk data [and jury verdicts] for 80 years or more. These computers create algorithms for calculating risk for individuals by comparing all the data that can be fed in about that individual, with the historical statistical record. This is why there are so damned many personal questions on every insurance application. the insurance industry may use something like eye color as a small factor for determining life insurance risk for an individual -- they literally feed in every piece of seemingly insignificant data they can obtain. The evil part comes in when the computer algorithm suggests a range of damage value for a certain injury, let's say $28,000-$36,000 (and these predictions are actually tremendously accurate), but the adjuster offers only $15,000 to settle the claim. Instead of being offered a fair settlement, the insured person is now forced to go out and get a lawyer. If the insurance industry were in the least way honest, I would have been looking for another job.

In case it is not clear by now, I have no love for the insurance industry, which started out, decently enough as cooperatives, where people pooled risk to mutual benefit. It has evolved into something else entirely. Today, with their Big Money, Big Insurance, Big Banks and Big Oil absolutely control the US and most of its politicians. It is one of the reasons I am so happy to be living here. I had to visit the emergency room of the local hospital the other day for a deep wound I sustained on my foot. They cleaned and bandaged it and gave me medication -- and they did it all in about 30 minutes. The [uninsured] cost? $8.60US. I have to go back every day for seven days for a dressing change. the cost? $6.55US each time. What would that emergency room visit have cost in the US? $2000? $5,000? And needless to say that if I presented to an emergency room in the US, I would have to sit in the waiting room for at lease three hours. the difference is that Thailand's system is socialized (and, yes, very inefficient, but with the aim to serve the patient), while the US system is now controlled by Big Insurance (and Big Pharma), who are extremely efficient, but whose sole aim is to separate the patient from as much money as possible. Need I say more?

The reason I thought you were American is that in many of your posts you appear to be very risk averse (not meant to be a criticism). Unfortunately, for years now, Americans have been living in a culture of fear greatly accelerated by 9/11 and the machinations of the Bush Administration. Americans are afraid of terrorists, robbers, law suits, fires, medical bills, etc. Most of these fears are completely out of touch with the statistical reality. They buy insurance against everything and big locks for their doors (I never used to lock my doors) -- many carry guns.

While I was a gun owner and advocate, I never felt any need to pack a concealed weapon everywhere I went, though I know many who do. Ah, whatever, time to stop following this thread. I know I am only pissing into the wind.

[BlackArtemis]

So depending on how you split the coverage it seems it is within 3k baht.

Odd note, the originally stated the value as 140k, I asked it to be raised to 160k, they did so with no change in premium.

Probably because they worked into their risk calculations that you are farang. Every Thai insurer knows that Thai big bike riders have far and away the lions share of accidents. When they can rope in a farang with an expensive bike, it is usually a pretty good bet. And because it is the Thais that have 95% of the big bike accidents upon which the carriers are basing premiums, it is a horrible bet for a farang, who is subsidizing the inexperienced Thai big bike riders.

By the way, as to all my comments about risk here and in other places, I was an ambulance chasing lawyer in Alaska before coming to Thailand. I spent my career fighting with the likes of Allstate and State Farm. To understand how they work, one has to study their actuarial and other methods of risk calculation. Although my feeling is that it is an evil enterprise overall (my opinion), given the way they treat people, the insurance industry is nothing, if not a giant number cruncher. They have super computers into which have been fed all the risk data [and jury verdicts] for 80 years or more. These computers create algorithms for calculating risk for individuals by comparing all the data that can be fed in about that individual, with the historical statistical record. This is why there are so damned many personal questions on every insurance application. the insurance industry may use something like eye color as a small factor for determining life insurance risk for an individual -- they literally feed in every piece of seemingly insignificant data they can obtain. The evil part comes in when the computer algorithm suggests a range of damage value for a certain injury, let's say $28,000-$36,000 (and these predictions are actually tremendously accurate), but the adjuster offers only $15,000 to settle the claim. Instead of being offered a fair settlement, the insured person is now forced to go out and get a lawyer. If the insurance industry were in the least way honest, I would have been looking for another job.

In case it is not clear by now, I have no love for the insurance industry, which started out, decently enough as cooperatives, where people pooled risk to mutual benefit. It has evolved into something else entirely. Today, with their Big Money, Big Insurance, Big Banks and Big Oil absolutely control the US and most of its politicians. It is one of the reasons I am so happy to be living here. I had to visit the emergency room of the local hospital the other day for a deep wound I sustained on my foot. They cleaned and bandaged it and gave me medication -- and they did it all in about 30 minutes. The [uninsured] cost? $8.60US. I have to go back every day for seven days for a dressing change. the cost? $6.55US each time. What would that emergency room visit have cost in the US? $2000? $5,000? And needless to say that if I presented to an emergency room in the US, I would have to sit in the waiting room for at lease three hours. the difference is that Thailand's system is socialized (and, yes, very inefficient, but with the aim to serve the patient), while the US system is now controlled by Big Insurance (and Big Pharma), who are extremely efficient, but whose sole aim is to separate the patient from as much money as possible. Need I say more?

The reason I thought you were American is that in many of your posts you appear to be very risk averse (not meant to be a criticism). Unfortunately, for years now, Americans have been living in a culture of fear greatly accelerated by 9/11 and the machinations of the Bush Administration. Americans are afraid of terrorists, robbers, law suits, fires, medical bills, etc. Most of these fears are completely out of touch with the statistical reality. They buy insurance against everything and big locks for their doors (I never used to lock my doors) -- many carry guns.

While I was a gun owner and advocate, I never felt any need to pack a concealed weapon everywhere I went, though I know many who do. Ah, whatever, time to stop following this thread. I know I am only pissing into the wind.

Thanks for the insight, and I would agree that we are a bit risk adverse. The whole post 9/11 thing personally doesn't affect me (hell, I used it as a way to get massively cheap plane tickets the following months) but as a society it changed us, especially with the fear mongering news.

And while I agree that statistically the numbers are in my favor, stats mean shit when I have a bent frame and a broken leg. Don't forget our <deleted> up healthcare system means constantly dwelling on what your insurance covers and making sure they don't change that policy on you.

cheers

[BlackArtemis]

God, these companies employ morons... So, prior to me calling MSIG, I used their online quote request thing. I just got a message that they're sorry, but they do not cover motorcycles... Really? Cause you're coworker got me squire days ago.....

[RigPig]

God, these companies employ morons... So, prior to me calling MSIG, I used their online quote request thing. I just got a message that they're sorry, but they do not cover motorcycles... Really? Cause you're coworker got me squire days ago.....

Interesting thread...

I have a Harley I've spent a lot on and would like to insure it, any contact info for MSIG please, sounds like the phone number would be handier.....

Thanks

[Shurup]

God, these companies employ morons... So, prior to me calling MSIG, I used their online quote request thing. I just got a message that they're sorry, but they do not cover motorcycles... Really? Cause you're coworker got me squire days ago.....

Interesting thread...

I have a Harley I've spent a lot on and would like to insure it, any contact info for MSIG please, sounds like the phone number would be handier.....

Thanks

RigPig, BlackArtemis, have you got any contacts for MSIG or LMG? Can you please post here or PM me? My insurance will be up in Feb so I thought it is a good time to start looking now.

[dogpoo]

Any country on this planet apart from backward Thailand provides bike insurance, here it is very difficult to get anything, I tried quite a few dealers here and all you get is "no have, can not get insurance for bike" eventually I found AA insurance, google them and they will provide you with big bike Insurance!

The guys name is Peter so no language barrier, they respond quickly once you have filled out the online form!! good luck!!

Edited January 6, 2014 by dogpoo

[Shurup]

Thanks, if you read this tread, LMG is also referred to as AA, I think they're sponsors, but my comp is blocking all the adds so I can't see them.

[dogpoo]

Thanks, if you read this tread, LMG is also referred to as AA, I think they're sponsors, but my comp is blocking all the adds so I can't see them.

Okay, that's who I am with now which was got through Bigwing!

[BlackArtemis]

Lockton/MSIG

Nanchaporn Loungaon

Operations Officer

Affinity & Personal Lines

Lockton Wattana Insurance Brokers (Thailand) Ltd.

4th Floor, United Center Building,

323 Silom Road, Khet Bangrak,Bangkok 10500

Tel: +66 (0) 2 353 7000 (Ext. 4140)

Fax: +66 (0)2 353 7009

E-mail: [email protected]

Website: www.locktonwattana.co.th

Company Registration No.: 0105527011324

[mania]

Yes BA has the right contact info for MSIG

On my 2nd year with them just renewed last week.

They gave me about a 17% discount over last years price for having a year of no claims

Tried to check with Tokyo Marine at renewal time & was told they only insure Honda's heheheh

That is a odd business model.

Imagine opening a fuel station & saying the same..Oops sorry we only fill Honda's...or a restaurant that only serves one kind of customer

[mania]

Thanks, if you read this tread, LMG is also referred to as AA, I think they're sponsors, but my comp is blocking all the adds so I can't see them.

LMG is an Insurance company

AA is an Insurance Broker

You can use AA or call LMG yourself

I have my truck insurance with LMG & they seem fine so far.

Discount 2nd year too due to no claims

[ll2]

12 k for 1st class insurance cbr650f with tokio marine through bigwing.

[Shurup]

Thanks for the replies folks.

Mania, do you have any contacts for the LMG or AA?

[dogpoo]

12 k for 1st class insurance cbr650f with tokio marine through bigwing.

If you buy the bike from them otherwise they will not entertain you!

[BlackArtemis]

I believe Tokio would not insure my used bike. I am sure they have some reason, I like to think it's because they suck...

[dogpoo]

I believe Tokio would not insure my used bike. I am sure they have some reason, I like to think it's because they suck...

You can not get insurance from Tokio Marine by simply going into there office, you have to go through a dealer, someone like Sumetcycle, I tried this in Phuket and the answer was "no have motorbike insurance"

[mania]

Thanks for the replies folks.

Mania, do you have any contacts for the LMG or AA?

Yes AA is actually a sponsor here on TV

they post in the Insurance section

http://www.thaivisa.com/forum/user/163501-aainsurancebrokers/

LMG I contact directly & they have an office here in CM

You would just pick depending on what province your in or use the broker like AA

http://www.lmginsurance.co.th/en/

[BlackArtemis]

I believe Tokio would not insure my used bike. I am sure they have some reason, I like to think it's because they suck...

You can not get insurance from Tokio Marine by simply going into there office, you have to go through a dealer, someone like Sumetcycle, I tried this in Phuket and the answer was "no have motorbike insurance"

No, they cover bikes, just not a used bike. I was told I would have to buy a bike new and select them if I wanted them.

You have been looking at 1,500 different new bikes as of late, whole different insurance game when you buy second hand.

But Locton/MSIG and AA/LMG both step up, I liked Locton's coverage better than AA.

[dogpoo]

I believe Tokio would not insure my used bike. I am sure they have some reason, I like to think it's because they suck...

You can not get insurance from Tokio Marine by simply going into there office, you have to go through a dealer, someone like Sumetcycle, I tried this in Phuket and the answer was "no have motorbike insurance"

No, they cover bikes, just not a used bike. I was told I would have to buy a bike new and select them if I wanted them.

You have been looking at 1,500 different new bikes as of late, whole different insurance game when you buy second hand.

But Locton/MSIG and AA/LMG both step up, I liked Locton's coverage better than AA.

Okay I can only mention my experience with Tokio marine, I had to go through a Bangkok Honda dealer in order to get Tokio bike insurance, they would not give it to me when I went into there Phuket office.

[Shurup]

Got a reply from AA with a quote. Basically I can't get a 1st class as they require the bike to have the 1st class at the moment.

Make: Yamaha Dragstar

Year: 2005

Engine Size: 400 CC.

Third party liability

Own damage

Driver & Passenger

1. Bodily Injury or death

1,000,000 Baht / person

10,000,000 Baht/accident

2. Property Damage
1,000,000 / accident
2.1 Amount of Deductible

-Baht/Each Accident

‘1 Own Damage

- Baht

1.1 Amount of Deductible

- Baht/Each Accident

‘2 Fire & Theft

- Baht

Personal Accident

1. Personal accident benefit for 1 driver & 1 Passenger

100,000 Baht / person

2. Accident Medical Expense for
1 driver & 1 passenger
50,000 Baht / person
3. Bail bond 250,000 Baht

3^rd class Premium / Year = 3,445 Baht.

The above insurance premium is inclusive of Tax and Stamp Duty.

Can someone decipher this for me? Is it good / bad coverage? I guess it only covers the other party if I make the accident? It also have some medical coverage for the rider and a passenger? No thief coverage? Bail bond good? No?

What am I missing compared to a 2nd or a 1st class insurance?

[canopus1969]

Unfortunatley with an old bike like you have that is all that is available - bottom line is to take it you have no option

[mania]

Can someone decipher this for me? Is it good / bad coverage? I guess it only covers the other party if I make the accident? It also have some medical coverage for the rider and a passenger? No thief coverage? Bail bond good? No?

What am I missing compared to a 2nd or a 1st class insurance?

You know that actually sounds quite good to me.

Of course what is missing is anything for your own damages to bike or theft.

But given your bike is not expensive shouldn't be too much of a problem given your savings.

Your 3rd party is as good as any 1st class I have seen

1mil per person

10 mil per accident

Property Damage maybe a little light as 1st class gives 2.5 million

But really how much damage can a dragstar 400 inflict on property?

Then you still get the personal accident of 50 k each for you & passenger + looks like

they bumped it up with another 100k each...So 150k each for medical help for you & passenger

Then you also get a decent bail bond of 250k

All for less than 3500 a year?

I dont know about others but to me that is a pretty dang nice deal.

Edited January 11, 2014 by mania

[krbkk]

what will you do with AA

if you have a Problem, they do not pay or they pay very very late and under following instuctions

Never again AA

Forget this Insurance for ever