car fist class insurance, third party maximum cover

[vento]

Hello, need some advice here

Im in the market to get a first class insurance. i honestly can say that last year, i was under the impression that i got full cover, both for myself and any third party, in case of an accident.

Now i got a quote, which states sum insured which is somewhat close to the value of my car.

But, what if i total wreck my car, need hospital attention and maybe wreck a mercedes benz at the same time

I mean, the sum covered are not even close to what one could imagine the bill would be,

Back home, we dont have such limits, a third party cover, will cover no matter if the third party is a cheap or expensive car, and hospital care is free.

So im sort of thinking that a accident could more or less ruin my (and others) life, financially, if the sum covered isnt more than my own car value.

Did i misunderstand all of this? And what do you guys do to make sure you get full or very comprehensive cover? Do you just ask for a better meximum coverage bid, or???

Maybe i got all of this wrong, so some advice here would be really helpfull and appriciated.

Cheers

[vento]

finally managed to get some additional information from the company im speaking to.. it seems that the sum coverage, apperently is only for my own car. on top of that, there is

third party libability

1. loss of life - 1,000,000/person

2.damage to property - 5,000,000 bath/accident

Personal Accident

1.loss of life ,dismemberment, permanent disability

1.1 driver 1 person- 200,000 bath

1.2 passenger 6 persons - 200,000 bath/person

2. Medical expense - 200,000 bath/person

3. bail bond - 200,000 bath/accident

[Pib]

Best just to get a 1st Class Insurance policy...but shop around...use an insurance broker. In Thailand they generally have 1st, 2nd, and 3d Class policies (sometimes with variations) and then you have the separate Compustory Motor Insurance (CMI) that everyone must have (CMI costs around Bt650) in order to get their yearly registration/tax sticker for their vehicle. These two weblinks give an overview of Thailand auto insurance basics:

http://thailand.angloinfo.com/transport/vehicle-ownership/vehicle-insurance/

http://insureinthailand.com/auto_verzekering.aspx

I had an in-law just last week lose control of his 13 year old truck (he wasn't drunk either...just going too fast on a bad road), drove off the road and partially rolled over. Truck was in good condition and worth around Bt300-400K, but the damage done was around Bt200-300K...so it's totaled. He's already sold it for Bt120K.

He only had 3d class insurance and since it was only him having the accident and didn't involve another at-fault vehicle which had at least 3d class insurance there was no coverage for him. Plus, he even let the insurance expire last month...said he was planning to renew this week---yea, right. Anyway, his choice not to have adequate insurance (plus letting it expire) on the roads of Thailand where other folks are driving without adequate insurance or no insurance, no license, etc., has been a life changing event for him as he now looking to buy a replacement used vehicle, finance it, etc.

His poor insurance decision will now cost him much, much more in terms of future vehicle finance payments than an annual premium for adequate insurance. And if he had happened to cause some third party damage (but he didn't) like hitting another vehicle, person, house along the road, a farmer's prize buffalo, etc., he would be up the creek because now he would be trying to pay third party compensation for the damage he did and buying a replacement vehicle---after he arranged bail money to get himself out of jail.

[vento]

ok, thanks for your response... im trying to shop around, not to find the best price, but the best cover. i found some interesting things, in terms of difference, and the fact that even a 1st class insurance, does not nessecary cover all it seems.

I will write a post when im done..

cheers