What's up with the cheapo Land Transport bike insurance?

[roguewo]

I have a 4 year old 125, so I can't get any theft coverage, I don't think. Moreover, I'm not letting a 'certain person' try to sell me first class insurance for it, because 1st class insurance for a 125 doesn't exist! You know who you are!

I'm considering the cheapo stuff from Land Transport that costs a few hundred baht. Anyone know what the insurance covers? Of course compulsory, but to what amount? What else?

Thanks!

P.S. I'm not looking for brokers answering, trying to sell me something!

Edited April 30, 2014 by roguewo

[canopus1969]

Strange post - yes you can get 1st, 2nd and 3rd Class insurance on a 4 year old bike !

[stevenl]

And yes, that liability insurance is compulsory.

[roguewo]

Strange post - yes you can get 1st, 2nd and 3rd Class insurance on a 4 year old bike !

Strange answer - You may have been lied to!

I have heard that you can from a salesman, only to find out from the insurance company that they don't offer 1st class insurance.

Do you know anything about the OP, or are you having an off day?

[stevenl]

Strange post - yes you can get 1st, 2nd and 3rd Class insurance on a 4 year old bike !

Strange answer - You may have been lied to!

I have heard that you can from a salesman, only to find out from the insurance company that they don't offer 1st class insurance.

Do you know anything about the OP, or are you having an off day?

So go to a different insurance company. That is if you want it, IMO a 4 year old standard 125 cc does not warrant 1st class insurance.

[Expattaff1308]

Compulsory insurance hardly covers the paper it written on and not third party. Take out additional third party cover, you can get around 1m baht cover for about 1600 Baht

[stevenl]

Compulsory insurance hardly covers the paper it written on and not third party. Take out additional third party cover, you can get around 1m baht cover for about 1600 Baht

Compulsory insurance does (limited) cover 3rd party medical expenses.

[Moobahn]

Compulsory insurance hardly covers the paper it written on and not third party. Take out additional third party cover, you can get around 1m baht cover for about 1600 Baht

Which insurance company? if I may ask?

[Pib]

Compulsory Motor Insurance

• In 1992, the Thai government has passed a law that required all vehicles in the Kingdom of Thailand to have an insurance coverage that covers the medical expense of road victims. The law was implemented in April 5, 1993. If an owner of a vehicle fails to have this insurance, he/she will face a fine of THB 10,000 – 50,000.
• Coverage of Compulsory Motor Insurance
• The compulsory motor insurance only covers bodily injury of the road victims. The property damage is not included. The coverage is divided as followed:
• 1. Primary Loss
• 1.1 If the road victim receives a bodily injury, the insurer is subjected to pay for the actual medical expense of the road victim but not exceeding THB 15,000
• 1.2 If the road victim has lost his/her life, the insurer is subjected to pay the total of THB 15,000 for person.
  
• 1.3 If the road victim has received a medical treatment and lost his/her life at a latter stage, the insurer is subjected to pay accordingly to clause 1.1 and 1.2.
• 2. Loss that exceeds the primary loss
• 2.1 The insurer is subjected to pay for the excess amount from the primary loss for a bodily injury case but not more than THB 50,000 per person.
• 2.2 The insurer is subjected to pay for the excess amount from the primary loss for a loss of life case but not more than THB 80,000 per person.
• Summary of the Compulsory Motor Insurance coverage
• 1. Bodily injury maximum THB 50,000/ person
• 2. Dismemberment maximum THB 80,000/ person
• 3. Loss of life maximum THB 80,000/ person
• Maximum coverage per case
• 1. Vehicle with less than 7 seats maximum THB 5,000,000/ case
• 2. Vehicle with more than 7 seats maximum THB 10,000,000/ case
• Note : If it is proven that the driver is at fault, the insurer will only responsible for primary loss coverage only.

Summary: it don't cover much but is a little better than nothing.