When Insurance Company lowers/changes your actual vehicle policy limits after you made the payment.

[khunjerrybkk]

CHECK YOUR ACTUAL VEHICLE INSURANCE PERIL COVERAGE POLICY.

Recently, I purchased a annual renewal vehicle insurance policy from a well-known Vehicle Insurance Company here in Thailand. When I was shopping for policy coverage and cost they sent me an email outlining the payout limits on coverage and the annual price.

Which seemed high on price and lower in benefits.

You can request that your coverage limits be raised based on your driving habits (safe driver, low mileage on vehicle, etc) which they did....also, I requested the annual policy price be reduced 3,000 baht to 17,000 baht (original price was 20,000 per year)....

One week later I received their confirmation letter outlining the coverage limits and price.

Everything checked OK...so I paid the annual premium and waited for the actual policy to arrive.

When the policy arrived I checked the peril coverage and bail bond limits and was SHOCKED to see that they had NOT PROVIDED THE COVERAGE LIMITS that they had stated in their original confirmation letter. The actual coverage limits were 50% less (one-half)from what they had previously promised.

Wonder how many people never check the actual policy coverage when it arrives in the mail.....you might not have the coverage that you paid for!

After emailing a complaint letter with back to the Insurance Company with a copy of the email going to legal counsel and the Regulatory Thailand Government Office the company quickly extended an apology and sent out the CORRECT policy limits that I had previously paid for.

Once again......Caveat Emptor: Let the buyer beware!!!

I hope this information will provide guidance to other expats on thaivisa forum.

[KittenKong]

I bought my insurance via a broker. I got the policy in my grubby little hand and checked all the details before I paid any money over. I tend to do things that way.

[impulse]

I bought my insurance via a broker. I got the policy in my grubby little hand and checked all the details before I paid any money over. I tend to do things that way.

Wouldn't have worked for me.

I paid my money and got a temporary, 1 page document. 3 weeks later I got the full documents.

They could have made any number of changes between the temporary document and the permanent documents. I'll be looking them over before I take the car for a spin as I just received them.

Thanks, khunjerryBKK for the heads up.