Insurance for Cars Buying Guide for Those Moving to Thailand

[DirectAsia]

Car Insurance Buying Guide for Those Moving to Thailand

It is compulsory for vehicle owners in Thailand to have car insurance, and you will be required to have at least a Compulsory Motor Insurance (CMI or PorRorBor) policy.

You can buy CMI from the local Department of Land Transport Office (DLT), from car insurance companies and from brokers, including at DirectAsia.co.th. The only information required is your passport number and car details.

CMI however only covers third party liability. You can buy Voluntary Motor Insurance (VMI) to enjoy greater protection.

There are more than fifty insurance companies offering car insurance in Thailand. Products and price are generally similar, in part due to a regulatory tariff, which ensures that premiums charged are within a minimum and maximum tariff. Cheaper “third party plus” products are available but full comprehensive insurance known as Type 1, has become popular due to a high frequency of vehicle damage in Thailand.

Insurance premium is usually based on vehicle factors like make, model, year of manufacture and engine capacity. However, some providers like DirectAsia.com, will seek more details about drivers for more accurate premiums and to help safe drivers save.

Flexible or “any” driver plans are common but if you specify the driver(s) you should get more accurate premiums.

Be aware that you may get to choose an option that allows you to have your car repaired at your preferred workshop, compared with the insurer’s panel of workshops.

If you buy a new car in Thailand on finance, you may feel like you have little choice of insurer due to dealers bundling car, finance and insurance where often you end up with expensive insurance. In this case, it’s worth at least getting a quick comparison quote so you know where you stand. If you are paying cash for a car or it’s a second hand car, you will find much greater freedom of choice.

A new trend is quoting and purchasing car insurance online, owing to its direct and instant nature. Non-Thai speakers may also benefit from information may be presented in English. In the case of DirectAsia Thailand, there is also English speaking support on the Customer Care hotline on Tel: 0-2627-7777. This can be important, especially if you are in an accident and need support at the roadside.