How can I reduce my premiums?

 

 

Choose named drivers. Choosing any driver is more expensive.

Offer to pay a deducible. i.e. you pay the first 3,000-5,000.

Check the levels for medical etc (sometimes these are too high)

Don’t have accidents and get ‘no claims’ bonus

Review you policy annually

What do I do if I have an accident?

 

 

Call the insurance company’s emergency number immediately. A good insurer will send someone within 20-30 minutes.

Don’t admit any liability.

Remain calm.

If you are arrested, remain calm.

Again preparation is important. Make sure you have copies of your policy documents in your car, along with your driving license and copy of your passport. Keep the insurers emergency number at hand.

Check that your insurer has a 24 hour emergency number manned by ENGLISH speaking staff. It’s no good having insurance if you can’t get them to understand where you are or what happened.

Join an organization such as FAST, who are trained to deal with all types of emergency situations.

What is bail bond?

 

 

This is to provide funds in the event you are arrested and put in the police jail. Usually, for foreigners bail is 200,000 baht. Check your policy that the amount shown is at least 200,000. If it is too high your premium will also be higher.

Note: this bail bond only covers you if you are arrested for a road traffic incident. It will not cover you if you are involved in any other incident. You should take out separate bail bond insurance, which is not very expensive and you can select the desired level of cover.

What is compulsory motor insurance ?

 

 

Compulsory Motor Insurance

In 1992, the Thai government has passed a law that required all vehicles in the Kingdom of Thailand to have an insurance coverage that covers the medical expense of road victims. The law was implemented in April 5, 1993. If an owner of a vehicle fails to have this insurance, he/she will face a fine of THB 10,000 – 50,000.

Coverage of Compulsory Motor Insurance

The compulsory motor insurance only covers bodily injury of the road victims. The property damage is not included. The coverage is divided as followed:

1. Primary Loss

1.1 If the road victim receives a bodily injury, the insurer is subjected to pay for the actual medical expense of the road victim but not exceeding THB 15,000

1.2 If the road victim has lost his/her life, the insurer is subjected to pay the total of THB 15,000 for person.

1.3 If the road victim has received a medical treatment and lost his/her life at a latter stage, the insurer is subjected to pay accordingly to clause 1.1 and 1.2.

2. Loss that exceeds the primary loss

2.1 The insurer is subjected to pay for the excess amount from the primary loss for a bodily injury case but not more than THB 50,000 per person.

2.2 The insurer is subjected to pay for the excess amount from the primary loss for a loss of life case but not more than THB 80,000 per person.

Summary of the Compulsory Motor Insurance coverage

1. Bodily injury maximum THB 50,000/ person

2. Dismemberment maximum THB 80,000/ person

3. Loss of life maximum THB 80,000/ person

Maximum coverage per case

1. Vehicle with less than 7 seats maximum THB 5,000,000/ case

2. Vehicle with more than 7 seats maximum THB 10,000,000/ case

Note : If it is proven that the driver is at fault, the insurer will only responsible for primary loss coverage only.

What is covered?

 

 

What types of car insurance are available?

 

 

Compulsory

CTPL (Compulsory Third Party Liability)

You must have this insurance as it is a requirement to obtaining your road tax each year, Thaivisa Insurance can now also provide road tax renewals, contact us for further details.

Voluntary

First Class

What most Europeans know as Full comprehensive, Full cover.

This provides cover for third parties and damage to your own vehicle. As the majority of Thai drivers don’t even have insurance, this is the cover you should have as an expat.

Second Class (also Plus available)

What most would know as third party, fire & theft. If you have an accident with another driver and its their fault and they don’t have insurance, you will not be covered.

Third Class

This only covers damage to the other driver and vehicle, not yours.

This is a new class of insurance which covers damage to the other driver and vehicle AND a limited amount of damage to your own vehicle (usually around 100k)