Insurance transfer with 2nd hand bike purchase?

[TheRoadWarrior]

Did a quick search but did not find definitive answer.

If a 2nd hand bike has 1st class insurance paid up for the rest of the year (or however long), and you purchase the bike and transfer greenbook to your name, does that insurance continue to cover the bike and new owner/driver (assuming the insurance was for "any" driver)?

If yes, is this always the case, or are there exceptions or irregularities to worry about?

In north america the new owner would have to start a new policy the day of purchase, because the old owners policy would not cover them and would be cancelled after the sale.

[properperson]

you would need to contact the insurer and get the policy transferred into the new owner's name.

Otherwise there would be no insurable interest.

[ehs818]

The previous answer is incorrect. IF the bike has been properly registered, and that was paid for, there is also a mandatory government insurance policy that should also have been purchased. That payment is on the bike, not the driver. So it's important to get that paper from the bike seller. Registration is about 100 baht a year, the insurance about 450 baht. Also, it doesn't ever matter if you change ownership using the Green Book. As long as the payments are made and you have possession of the Green Book, it will be cool and legal. Check with an insurance agent!

[properperson]

The previous answer is incorrect. IF the bike has been properly registered, and that was paid for, there is also a mandatory government insurance policy that should also have been purchased. That payment is on the bike, not the driver. So it's important to get that paper from the bike seller. Registration is about 100 baht a year, the insurance about 450 baht. Also, it doesn't ever matter if you change ownership using the Green Book. As long as the payments are made and you have possession of the Green Book, it will be cool and legal. Check with an insurance agent!

Im an ACII and had my own insurance brokerage for over 30 years.

Have lectrured in insurance practice and Law.

"I Aye wrong" .......

[steve187]

The previous answer is incorrect. IF the bike has been properly registered, and that was paid for, there is also a mandatory government insurance policy that should also have been purchased. That payment is on the bike, not the driver. So it's important to get that paper from the bike seller. Registration is about 100 baht a year, the insurance about 450 baht. Also, it doesn't ever matter if you change ownership using the Green Book. As long as the payments are made and you have possession of the Green Book, it will be cool and legal. Check with an insurance agent!

Im an ACII and had my own insurance brokerage for over 30 years.

Have lectrured in insurance practice and Law.

"I Aye wrong" .......

In Thailand?

[idhem1983]

I would like to know how many bikes we can have on my name?

[inzman]

In Thailand most insurance follows the bike. Check with the company for peace of mind.

[papa al]

The previous answer is incorrect. IF the bike has been properly registered, and that was paid for, there is also a mandatory government insurance policy that should also have been purchased. That payment is on the bike, not the driver. So it's important to get that paper from the bike seller. Registration is about 100 baht a year, the insurance about 450 baht. Also, it doesn't ever matter if you change ownership using the Green Book. As long as the payments are made and you have possession of the Green Book, it will be cool and legal. Check with an insurance agent!

Yes.

But might not be cool not having green book ownership changed when the day comes to sell the bike.

Particularly if purchased from long gone farang.

[Briggsy]

The previous answer is incorrect. IF the bike has been properly registered, and that was paid for, there is also a mandatory government insurance policy that should also have been purchased. That payment is on the bike, not the driver. So it's important to get that paper from the bike seller. Registration is about 100 baht a year, the insurance about 450 baht. Also, it doesn't ever matter if you change ownership using the Green Book. As long as the payments are made and you have possession of the Green Book, it will be cool and legal. Check with an insurance agent!

This answer is irrelevant and thus incorrect and misleading.

The OP is asking about first class insurance.

This irrelevant answer from ehs818 refers to the compulsory government insurance, i.e. พ.ร.บ. The two things are completely different.

In addition, the advice not to worry about changing ownership is extremely bad advice.

Readers should disregard this misleading post.

Edited September 13, 2015 by Briggsy

[TheRoadWarrior]

so let me clarify.... if the currrent owner has paid up 1st class insurance.... when i change greenbook to my name, i should also contact the insurance policy to change policy to my name?

or is that policy just automatically cancelled and i need to pay for my own?

i know its possible each 1st class company handles it differently... but in general, what is the typical procedure?

i thought it would be common sense, but i guess i have to say that im not talking about the useless mandatory govt insurance.

Edited September 13, 2015 by TheRoadWarrior

[Shurup]

From what I have seen on the AA Insurance application page, there's an option to get the insurance for only one rider (the applicant) or any rider. So in the 1st instance it looks like the insurance will cover only one name and one bike and in the 2nd instance, the insurance will cover anyone on that bike. So I'd say it's better to contact the particular insurance company and clarify.