Car No Claims Bonus

[stubuzz]

I have recently learned, from this site, that the no claims bonus follows the car!

So, my question is, if you buy a second hand car, how do you know if it is entitled to any no claims bonus?

[ravip]

I think the NCB follows the owner & not the car!

I've done it - it works.

Ask any insurance agent, for the best advice.

Edit.

There is a time limit - if I remember correct it is 6 months.

[Chao Lao Beach]

Do you have a link to where you fund this info please.

[ravip]

Do you have a link to where you fund this info please.

NCB is given to the insured and not to the insured vehicle. Hence, on transfer of the vehicle, the insurance policy can be transferred to new owner but not the NCB. The new owner has to pay the difference on account of NCB for the balance policy period.The original owner can, however, use the NCB on a new vehicle purchased by him.

http://www.policyholder.gov.in/Faqlist.aspx?CategoryId=78

http://www.quoterack.co.uk/No-Claims-Bonus.aspx

Anyway, ask your agent too.

I have done it myself.

[stubuzz]

If you read my other post, "Car insurance question', you will see my insurance company told me i cannot use my NCB if i increase my cover; from class 2 to class 2+.

Another poster has commented that you only get a NCB with class 1 insurance.

[transam]

I think an email to AA Insurance Brokers (Thailand) will be happy to advise and can provide Insurance. They speak English too.

[ravip]

The NCB applies ONLY to comprehensive insurance policies.

Sorry, I forgot to mention that.

[JoePai]

Any NCB is based on the vehicle not the insured person in Thailand. This is why it is always better to transfer the insurance with the vehicle when you sell it – no cost but tell your Broker the name and details of the buyer so they can issue an endorsement.

Second vehicle : from the above you can see you will need to ‘start again’ for a second vehicle BUT talk to your Broker as (depending on the insurance company) they may be able to get a discount if the policy is from the same insurer – but note it may not be the most suitable for that vehicle so check first.

[MYKTHEMIN]

I could never transfer my insurance with my car as the insurance which is first class only covers the wife and me as named drivers!

[ravip]

Any NCB is based on the vehicle not the insured person in Thailand. This is why it is always better to transfer the insurance with the vehicle when you sell it – no cost but tell your Broker the name and details of the buyer so they can issue an endorsement.

Second vehicle : from the above you can see you will need to ‘start again’ for a second vehicle BUT talk to your Broker as (depending on the insurance company) they may be able to get a discount if the policy is from the same insurer – but note it may not be the most suitable for that vehicle so check first.

Thank you for this information. Could you also provide with a link to the info, please?

[karatechris]

I have a diploma in insurance from England. I have spent 10 years of my life working as a broker and spent several years of that time selling motor insurance within England.

My point being is as I told my wife:-

How as a business a Thai car insurer can make money based on the following:

A Thai person can presumably gain their car licence from the age of 18+.

My wife tells me if you buy a second hand car, they just transfer the remainder of the insurance over to the new owner.

So let's pretend a prudent insurer quotes a 45 year old who has been driving for 20 years without any accidents. He has 3 children and his wife in his car when he drives on the weekend so he drives pretty carefully, the only other times he drives is to see his business clients in their office and they have nicer cars than he does, so the last thing he wants to do his scratch his client's car as he parks next to them.

Then you have a boy racer who has just got his licence, he is used to doing wheelies on his motorbikes to impress his mates, let alone doughnuts and drag racing with his new found toy, He's seen the Fast and the Furious and found the You Tube clips as a way towards internet fame rather than a deterrent. He blasts out his music so he can hear the ambulance behind him and sees a bend as a challenge for speed.

So now lets pretend that the guy who was 45+ had the nice 2 litre engine 400,000 baht car then sells it to the, punk who's just turned 18 (which he's presumably entitled to do) 1 month after insuring it in his name. Does that then mean that the insurer has to transfer the insurance into that kid's name and honour the insurance on the car for the next 11 months. It sounds like business suicide to me,

Your thoughts please....

[AAInsuranceBrokers]

The first thing you need to do is forget everything you learnt in the UK – the way insurance is written in Thailand is different and yes, do listen to your wife as she is correct.

The main point you have missed from the posts above is that the coverage is with the vehicle – not the driver.

Welcome to Thailand

[KittenKong]

The main point you have missed from the posts above is that the coverage is with the vehicle not the driver.

In that case why do some (all?) insurance companies here accept NCB earned abroad?

[MYKTHEMIN]

The first thing you need to do is forget everything you learnt in the UK the way insurance is written in Thailand is different and yes, do listen to your wife as she is correct.

The main point you have missed from the posts above is that the coverage is with the vehicle not the driver.

Welcome to Thailand

So why do they ask for our driving licences and our car is only insured for my wife and I. So how would that go with the car? I think not? as it would be totally worthless to any one else!

[AAInsuranceBrokers]

Unfortunately we do not make the rules here and although I agree with what you say, that is not the case.

Example of passing the insurance on with the vehicle : if (say) you are a steady 45 year old driver in a safe job with a (say) full 5 years NCB, you can sell that vehicle to an example 20 year old and pass the cover and all the NCB to him - explain that !

Named drivers : again you are partly correct, they ask for your ages BUT the insurance is still with the vehicle

[stevenl]

You can of course prevent this by when selling a car cancelling the insurance and getting a premium refund.

[Chao Lao Beach]

You can of course prevent this by when selling a car cancelling the insurance and getting a premium refund.

You mean the remaining month of the policy you paid each year correct ?

[Chao Lao Beach]

What kid of discounts do you get in Thailand with a NCB % wise ?

[stevenl]

You can of course prevent this by when selling a car cancelling the insurance and getting a premium refund.

You mean the remaining month of the policy you paid each year correct ?

Yes, you'll get a refund according to the policy conditions.