Differences between car insurances...

[Muzarella]

Thed car insurance on my 3 years old car is due this month, the market value of the car is 450000thb, and I need to make a decision about new policy.

I have number 1 insurance now, for peace of mind, but I may change for number 2 if making sense.

What exactly is the difference in coverage? I am getting confusing info from insurance companies.

Thank you.

[stevenl]

Number one covers damage to your own car, whether you're to blame or not. Number 2 does not cover own accident damage

[ballbreaker]

Class 1 insurance is much cheaper if you are listed as only driver of vehicle. Anyone else drives the car and its not covered by insurance.

[whatproblem]

You are getting confusing information now imagine what will happen when you want make a claim ,I had so many problems now I go for number2 ,unless big accident you will not lose

[Don Mega]

You are getting confusing information now imagine what will happen when you want make a claim ,I had so many problems now I go for number2 ,unless big accident you will not lose

Both my vehicles have #1.

So far this year the missus has had 2 new windscreens and a front bumper totaling approx Bt,25000 covered by insurance company.

If I had #2 insurance that cost would have come from my pocket.

Are things like bail bond covered with #2 ?... handy to have if you kill someone, unless you have 200k yourself to cover it.

Edited May 12, 2016 by Don Mega

[akentryan]

Can you afford a 450,000 baht loss if your car is totaled? There is a good insurance agency where Thai, English, German and French is spoken. They will consider your situation and make a recommendation. It will not be based on what their highest commission is either. PM me if you are interested.

[KittenKong]

Class 1 insurance is much cheaper if you are listed as only driver of vehicle. Anyone else drives the car and its not covered by insurance.

I am the sole named driver of my vehicle and it's true that I get a good discount on the premium in return. However if someone else drives it they are covered, but the excess is doubled. This is OK by me.

I also get a another discount for having a voluntary larger excess on all claims, and another smaller discount for not using the vehicle to go to/from work (I dont work).

I had to ask for each and every one of these discounts. Agents never seem to suggest them.

[KittenKong]

So far this year the missus has had 2 new windscreens and a front bumper totaling approx Bt,25000 covered by insurance company.

Change her for a safer model.

[Don Mega]

So far this year the missus has had 2 new windscreens and a front bumper totaling approx Bt,25000 covered by insurance company.

Change her for a safer model.

Something non-asian perhaps ?

[stevenl]

You are getting confusing information now imagine what will happen when you want make a claim ,I had so many problems now I go for number2 ,unless big accident you will not lose

Both my vehicles have #1.

So far this year the missus has had 2 new windscreens and a front bumper totaling approx Bt,25000 covered by insurance company.

If I had #2 insurance that cost would have come from my pocket.

Are things like bail bond covered with #2 ?... handy to have if you kill someone, unless you have 200k yourself to cover it.

Yes, they are.

[JAS21]

Class 1 insurance is much cheaper if you are listed as only driver of vehicle. Anyone else drives the car and its not covered by insurance.

I am the sole named driver of my vehicle and it's true that I get a good discount on the premium in return. However if someone else drives it they are covered, but the excess is doubled. This is OK by me.

I also get a another discount for having a voluntary larger excess on all claims, and another smaller discount for not using the vehicle to go to/from work (I dont work).

I had to ask for each and every one of these discounts. Agents never seem to suggest them.

KK who are you with for this non named driver double excess...I thought I had that but can't now find where it is stated.

[KittenKong]

I am the sole named driver of my vehicle and it's true that I get a good discount on the premium in return. However if someone else drives it they are covered, but the excess is doubled. This is OK by me.

I also get a another discount for having a voluntary larger excess on all claims, and another smaller discount for not using the vehicle to go to/from work (I dont work).

I had to ask for each and every one of these discounts. Agents never seem to suggest them.

KK who are you with for this non named driver double excess...I thought I had that but can't now find where it is stated.

It's AXA. The agent explained how it works at the time. Not sure if the detail is on the contract or buried in the T&Cs.

[ozyjon]

I have number 1

[Sophon]

I am the sole named driver of my vehicle and it's true that I get a good discount on the premium in return. However if someone else drives it they are covered, but the excess is doubled. This is OK by me.

I also get a another discount for having a voluntary larger excess on all claims, and another smaller discount for not using the vehicle to go to/from work (I dont work).

I had to ask for each and every one of these discounts. Agents never seem to suggest them.

KK who are you with for this non named driver double excess...I thought I had that but can't now find where it is stated.

It's AXA. The agent explained how it works at the time. Not sure if the detail is on the contract or buried in the T&Cs.

I have insurance with AXA as well. From item 4 under coverage:

Deductible: The insured shall be responsible in respect of each accident as follows:

( a ) The first 1,000 Baht of damage not arising from collision or overturn or in case of collision but the insured is not able to report the other party to the Company.

( b ) The deductible amount as stated in the Policy Schedule.

( c ) The first 6,000 Baht of the damage to the Motor Vehicle arising from collision or overturn in the case of the Named Drive Policy, when the damage is caused by the driver whose name is not specified as named driver in the Policy Schedule.

In the case when the Insured shall be responsible under more than one item of deductible, it is deemed that responsibility under each of the items is an additional responsibility.

So worst case scenario, an accident while driven by a non named driver on a named driver policy will cost you an extra 6.000 Baht (not double your chosen excess). This, of course, doesn't include cases where the driver is drunk, doesn't have a licence etc. Other insurance companies than AXA may have different rules.

Sophon

[Tapster]

I'm thinking about insurance at the moment.

Is the Number 2 insurance, the policy that you are required to get at the motor office when you get a new road tax licence?

If I understand correctly, the latter is a 3rd party only policy to cover damage and injury to other people.

Thanks.

[Don Mega]

I'm thinking about insurance at the moment.

Is the Number 2 insurance, the policy that you are required to get at the motor office when you get a new road tax licence?

If I understand correctly, the latter is a 3rd party only policy to cover damage and injury to other people.

Thanks.

The one required by the land trans dept when you renew your road tax is Compulsory Third Party (CTP) insurance.

The insurance talked of in this thread is not compulsory.

1st Class : Comprehensive - Comprehensively covering the vehicle insured, life and injury of driver, passengers and third party property damage and liability.

2nd Class : Third Party Liability with Fire and Theft - Covering life and injury of driver, passengers and third party property damage and liability. PLUS a 200,000 Baht Bail Bond as well as theft and fire damage.

3rd Class : Third Party Liability - Covering life and injury of driver, passengers and third party property damage and liability. PLUS a 200,000 Baht Bail Bond

http://www.aainsure.net/car_insurance_thailand.html

Edited May 15, 2016 by Don Mega

[Tapster]

Thank you, Don.

A comprehensive explanation!

[KittenKong]

So worst case scenario, an accident while driven by a non named driver on a named driver policy will cost you an extra 6.000 Baht (not double your chosen excess).

6000B extra is double my chosen excess (more or less). Hence my comment.