Motor Vehicle No Claim Bonus,,,

[JesseFrank]

The no claim bonus is a scam, IMHO, they reduce the cost by the percentages cited but it has nothing to do with the no claims. It has to do with the decreased value of the car

A scam.............in Thailand...................You must be kidding

[a99az]

Very easy to work out, you pay the insurance company get the bonus.

[ableguy]

One thing I know for sure, if you buy a new vehicle you cannot transfer your no claim bonus , you start from scratch, makes sense really if you think about it.

[jacko45k]

I have just renewed my medical insurance.

The premium was increased by 5% over the 'group plan' amount as last year I had a claim.

Although I suggested that was not how a 'group plan' worked, apparently it is.

[JesseFrank]

One thing I know for sure, if you buy a new vehicle you cannot transfer your no claim bonus , you start from scratch, makes sense really if you think about it.

I why would that make sense ?

A no claim bonus should be related to the driver and not the vehicle, at least that is how it was when i lived in Europe.

By the way, when I bought my first new car in Thailand, my no claim bonus from Europe was accepted here.

Last year I wanted to change insurance company for my motorbike, and was informed that my no claim for the bike would not be transferred to the new company.

[KittenKong]

One thing I know for sure, if you buy a new vehicle you cannot transfer your no claim bonus , you start from scratch, makes sense really if you think about it.

I why would that make sense ?

A no claim bonus should be related to the driver and not the vehicle, at least that is how it was when i lived in Europe.

By the way, when I bought my first new car in Thailand, my no claim bonus from Europe was accepted here.

Last year I wanted to change insurance company for my motorbike, and was informed that my no claim for the bike would not be transferred to the new company.

Yes, NCD should reflect the claim history of the insured person and nothing else. To have it reflect the luck of the vehicle is bizarre.

My Thai NCD was certainly transferred from one company to the second when I switched. My European NCD (50%) would have been applied here but there had been a period of several years during which I owned no vehicle at all, which is fair enough.

[NanLaew]

Must admit I too am totally mystified- the premium on my Mazda 2 never goes down - the price insured decreases- 600 000 to 500 000 this year- no claims % increases. Have never claimed a penny. Must toughen up a bit.

I think the problem is me! I need to shop around, and no longer just accept the premium offered by a certain foreign run alphabetic insurance broker.

I had dealer-provided first class insurance on my truck for the first year that cost them around 19k. I renewed for the second year myself, no claims, using the same carrier and it was 17k. Just renewed via the insurance broker that is a sponsor here and I selected a 15k package from the five that they offered ranging from 12k to 23k. Notably the new insurance is NOT with the same agency that happily provided service for the first two years as apparently they had no discounts to offer even with no claims. At the same time, I renewed the insurance on the wife's 6 year-old CR-V for 15k as well, same carrier. She had insurance with them from new until about 4 years ago then switched. The premium is commensurate with the depreciation on the car value and didn't seem to include her two fender benders that they forked out for while she was with them before.

Watch this space to see what happens next year!

[JesseFrank]

Must admit I too am totally mystified- the premium on my Mazda 2 never goes down - the price insured decreases- 600 000 to 500 000 this year- no claims % increases. Have never claimed a penny. Must toughen up a bit.

I think the problem is me! I need to shop around, and no longer just accept the premium offered by a certain foreign run alphabetic insurance broker.

I had dealer-provided first class insurance on my truck for the first year that cost them around 19k. I renewed for the second year myself, no claims, using the same carrier and it was 17k. Just renewed via the insurance broker that is a sponsor here and I selected a 15k package from the five that they offered ranging from 12k to 23k. Notably the new insurance is NOT with the same agency that happily provided service for the first two years as apparently they had no discounts to offer even with no claims. At the same time, I renewed the insurance on the wife's 6 year-old CR-V for 15k as well, same carrier. She had insurance with them from new until about 4 years ago then switched. The premium is commensurate with the depreciation on the car value and didn't seem to include her two fender benders that they forked out for while she was with them before.

Watch this space to see what happens next year!

I selected a 15k package from the five that they offered ranging from 12k to 23k.

With insurance, as with most purchases actually, you get what you pay for. The 12000 package, nor the 15000 Package will have the same coverage as the 23000 package

[KittenKong]

With insurance, as with most purchases actually, you get what you pay for. The 12000 package, nor the 15000 Package will have the same coverage as the 23000 package

Yes and no.

My quote started at 20+k and I got it down to under 15k by judicious manipulation of discounts and reductions without actually altering the cover at all. And my current 15k premium provides much better cover than the first free year offered by the dealer, and for which the premium was apparently over 20k (if one can believe that the dealer actually paid the full price, which I dont).

[JesseFrank]

With insurance, as with most purchases actually, you get what you pay for. The 12000 package, nor the 15000 Package will have the same coverage as the 23000 package

Yes and no.

My quote started at 20+k and I got it down to under 15k by judicious manipulation of discounts and reductions without actually altering the cover at all. And my current 15k premium provides much better cover than the first free year offered by the dealer, and for which the premium was apparently over 20k (if one can believe that the dealer actually paid the full price, which I dont).

Your premium went down with 5000 Baht because you took 5000 Baht excess. You call that the same coverage ?

One small accident and the savings are gone. A second small accident and the premium cost you 5000 Baht extra.

Post #16

By taking 5000B voluntary excess I saved nearly 5000B on my premium,

[KittenKong]

Your premium went down with 5000 Baht because you took 5000 Baht excess. You call that the same coverage ?

One small accident and the savings are gone. A second small accident and the premium cost you 5000 Baht extra.

Post #16

By taking 5000B voluntary excess I saved nearly 5000B on my premium,

I got several other reductions for various things also but the basic cover (ie the total amounts insured and the services offered like roadside breakdown) didn't change.

As for the excess, 5000B bills dont bother me at all. I'm interested in having protection against catastrophes not paint scratches.

[NanLaew]

Must admit I too am totally mystified- the premium on my Mazda 2 never goes down - the price insured decreases- 600 000 to 500 000 this year- no claims % increases. Have never claimed a penny. Must toughen up a bit.

I think the problem is me! I need to shop around, and no longer just accept the premium offered by a certain foreign run alphabetic insurance broker.

I had dealer-provided first class insurance on my truck for the first year that cost them around 19k. I renewed for the second year myself, no claims, using the same carrier and it was 17k. Just renewed via the insurance broker that is a sponsor here and I selected a 15k package from the five that they offered ranging from 12k to 23k. Notably the new insurance is NOT with the same agency that happily provided service for the first two years as apparently they had no discounts to offer even with no claims. At the same time, I renewed the insurance on the wife's 6 year-old CR-V for 15k as well, same carrier. She had insurance with them from new until about 4 years ago then switched. The premium is commensurate with the depreciation on the car value and didn't seem to include her two fender benders that they forked out for while she was with them before.

Watch this space to see what happens next year!

I selected a 15k package from the five that they offered ranging from 12k to 23k.

With insurance, as with most purchases actually, you get what you pay for. The 12000 package, nor the 15000 Package will have the same coverage as the 23000 package

On paper yes. But apart from the deductible, some insurance companies have a better response time and service than others. It's all very well having their 24-hour emergency number but if they take hours to respond, then they are not worth the 5000 baht savings. Also, some companies will nickel and dime the customer on any claims whilst others don't. Some companies are either slow to send out renewal notices or don't even bother whilst others are more interested in customer service and retaining your business. I took advice from the insurance broker, asked friends and also consulted car insurance threads on TV before making my selection.

[JesseFrank]

Must admit I too am totally mystified- the premium on my Mazda 2 never goes down - the price insured decreases- 600 000 to 500 000 this year- no claims % increases. Have never claimed a penny. Must toughen up a bit.

I think the problem is me! I need to shop around, and no longer just accept the premium offered by a certain foreign run alphabetic insurance broker.

I had dealer-provided first class insurance on my truck for the first year that cost them around 19k. I renewed for the second year myself, no claims, using the same carrier and it was 17k. Just renewed via the insurance broker that is a sponsor here and I selected a 15k package from the five that they offered ranging from 12k to 23k. Notably the new insurance is NOT with the same agency that happily provided service for the first two years as apparently they had no discounts to offer even with no claims. At the same time, I renewed the insurance on the wife's 6 year-old CR-V for 15k as well, same carrier. She had insurance with them from new until about 4 years ago then switched. The premium is commensurate with the depreciation on the car value and didn't seem to include her two fender benders that they forked out for while she was with them before.

Watch this space to see what happens next year!

I selected a 15k package from the five that they offered ranging from 12k to 23k.

With insurance, as with most purchases actually, you get what you pay for. The 12000 package, nor the 15000 Package will have the same coverage as the 23000 package

On paper yes. But apart from the deductible, some insurance companies have a better response time and service than others. It's all very well having their 24-hour emergency number but if they take hours to respond, then they are not worth the 5000 baht savings. Also, some companies will nickel and dime the customer on any claims whilst others don't. Some companies are either slow to send out renewal notices or don't even bother whilst others are more interested in customer service and retaining your business. I took advice from the insurance broker, asked friends and also consulted car insurance threads on TV before making my selection.

And which company got your preference ?