Am I REALLY covered in case of car accident? (valid DL+insurance)

[Henderson]

Hi all,

I have a valid Thai Driving License, bought a car and need to get it insured.

The car is 2005 and I understood from the insurance company that I can only have 2nd class license due to the car's age.

I would really appreciate input from people who know the following:

1. In case I hit a car and it's my fault (but not under the influence of alcohol) and the other driver got hurt bad, am I fully covered for his body damages? is there any limit on the amount which I am covered for? what %/amount is payed by me in such case?

2. Same as 1 but no body damages but the car I just hit is total loss and unfortunately it was an expensive Aston Martin...

I just want to know that I am not going to pay for the rest of my life because of an accident.

3. Information on the coverage in such cases as well as company you recommend in Bangkok will REALLY help as I must sort the insurance ASAP if I want to drive the car I just bought lol.

*I am Currently in Bangkok and have a long drive back home

Thank you!

[bkkjames]

I believe there are two kinds of insurance...one for the car and 3rd parties and one for the driver. I just had to pay my road tax the other day and there was some other insurance with it for 650 baht which I believe was for the driver.

Not 100% sure to be honest. I am sure someone will come along shortly and explain it properly.

[Overandout]

Compulsory 3rd party insurance is for injury (to third parties) only. You must have this regardless of any other policy you take out and will not be able to tax the car or transfer ownership unless you have the receipt.

Then you can buy additional insurance which will cover property damage to 3rd parties, , your own injury cover, property damage to your own vehicle, or fire and theft coverage.

Obviously you get what you pay for, and in general terms 2nd class cover is similar to what in the UK is known as 3rd party F/T and first class is similar to fully comp.

My own car is over 10 years old so I was refused 1st class insurance, but I was offered 2nd class "plus" which covers losses to my own vehicle in case of accident, fire and theft up to a capped amount.

[KhunBENQ]

To my surprise, Muang Thai insurance now has English language content about the conditions.

What I see for my insurance does not make me to happy.

http://www.muangthaiinsurance.com/en/insurance/motor/2plus

Third Party Property Damage (THB/occurrence) only 1 Mio THB.

Thats not much at all!

[hansgruber]

I'd get first class insurance only. I've got great peace of mind knowing I'm covered for 10mb of property damage.

They also bail you out of jail if you happen to kill someone in an accident and compensate the family up for the death up to 1mb.

Could keep you out of a long drawn out legal battle without dipping into your savings.

Sometjing to think about.

[Henderson]

Is it true that only new cars can get 1st class insurance? i don't mind paying more for it, it's just that I was told that my 2005 car can't be insured 1st class.

The coverage amount for 3rd party accident (injury and car damage) is not at all clear and that's extremely important issue.

I really don't care about my own car damage OR myself as I have a very good private health insurance which covers all my personal medical bills.

My only concern is serious damage to the other driver and/or destroying his expensive Mercedes/Ferrari... I don't do insurance for 1 mil baht, my only concern is for life changing claims (i.e. 5-10 mill baht up)

[bkkjames]

Is it true that only new cars can get 1st class insurance? i don't mind paying more for it, it's just that I was told that my 2005 car can't be insured 1st class.

The coverage amount for 3rd party accident (injury and car damage) is not at all clear and that's extremely important issue.

I really don't care about my own car damage OR myself as I have a very good private health insurance which covers all my personal medical bills.

My only concern is serious damage to the other driver and/or destroying his expensive Mercedes/Ferrari... I don't do insurance for 1 mil baht, my only concern is for life changing claims (i.e. 5-10 mill baht up)

I have 1st class on my 2+ year old truck.

[hansgruber]

Is it true that only new cars can get 1st class insurance? i don't mind paying more for it, it's just that I was told that my 2005 car can't be insured 1st class.

The coverage amount for 3rd party accident (injury and car damage) is not at all clear and that's extremely important issue.

I really don't care about my own car damage OR myself as I have a very good private health insurance which covers all my personal medical bills.

My only concern is serious damage to the other driver and/or destroying his expensive Mercedes/Ferrari... I don't do insurance for 1 mil baht, my only concern is for life changing claims (i.e. 5-10 mill baht up)

I don't think any car of any age is exempt from getting it.

My friend has classic cars insured first class so age isn't a factor.

Talk to a few insurance companies. Many options are available. Even extra 3rd party liability insurance.

It's all about what your willing to spend.

[Chrisbinbkk]

I have 1st class on a 2002 bwm all be it expensive...

[Henderson]

I have 1st class on a 2002 bwm all be it expensive...

GREAT!

How much are you paying for it?

[Chrisbinbkk]

28k as the car is a 740il so I guess the premium is higher also I have a 1 year old chevy cruze and the insurance is only 18k

[Chrisbinbkk]

28k as the car is a 740il so I guess the premium is higher also I have a 1 year old chevy cruze and the insurance is only 18k

I also have a 2005 Toyota vios turbo its been off the road for past 2 years but last I insured it was 14k I think...not more

[hansgruber]

What's your liabilities printed on your policies.

That's the key issue here.

I pay 45k a year for 10mb liability and 1mb per death caused and jail bail.

That's also covers my car for 80% of the value calculated each year.

[Henderson]

My car is Isuzu D-Max 2005, which company do you guys recommend for 1st class insurance?

Those who stand behind their policy and don't do everything in their power not to pay (well more than the usual efforts lol..)

Nice websites mean nothing, your experience means everything!

[Chrisbinbkk]

Well a scary story from 5 years back when I bought my bmw I was forced to use aia @ 55k within the first year I had a pretty bad accident (drove into the front of neibours house) aia sent recovery ect month later repairs at 400k plus 50k for house then they went broke errr... after 2 years I paid 200k for the car and 40k for the house.. took the whole case to ico and still waiting for the money back dont think will ever see it but never know.. now I use AXA and happy...

[Henderson]

Well a scary story from 5 years back when I bought my bmw I was forced to use aia @ 55k within the first year I had a pretty bad accident (drove into the front of neibours house) aia sent recovery ect month later repairs at 400k plus 50k for house then they went broke errr... after 2 years I paid 200k for the car and 40k for the house.. took the whole case to ico and still waiting for the money back dont think will ever see it but never know.. now I use AXA and happy...

Clearly there is a need to use an established company.

Which company other then AXA you recommend?

[Chrisbinbkk]

Axa is good aia was the bad one and now no longer .... axa is extremely large and main stream

[Theo007]

My car was about nine years old when I purchased it and I was able to get 1st. class insurance from Safety Insurance. I have owned it for twelve years and still have 1st. class insurance.

[Codesh]

Is it true that only new cars can get 1st class insurance? i don't mind paying more for it, it's just that I was told that my 2005 car can't be insured 1st class.

The coverage amount for 3rd party accident (injury and car damage) is not at all clear and that's extremely important issue.

I really don't care about my own car damage OR myself as I have a very good private health insurance which covers all my personal medical bills.

My only concern is serious damage to the other driver and/or destroying his expensive Mercedes/Ferrari... I don't do insurance for 1 mil baht, my only concern is for life changing claims (i.e. 5-10 mill baht up)

I don't think any car of any age is exempt from getting it.

My friend has classic cars insured first class so age isn't a factor.

Talk to a few insurance companies. Many options are available. Even extra 3rd party liability insurance.

It's all about what your willing to spend.

I checked for my car over 10 years old - was told I can only get 2nd class. Maybe different with different companies?