The fact is that as an awful lot of the vehicles driving around Thailand are NOT insured, most of them in the island of Koh Samui, Koh Phan Ngan and Koh Tao.
What will happen in the event of a motor accident? If the other vehicle has insurance then you may be able to claim against them. If they don’t you have to rely on your own insurance cover.
There are two types of motor insurance cover, Compulsory & Voluntary:
Compulsory
This is the ‘sticker’ which resides in the top left corner of your car window. It is also what the police initially look for, particularly in Nathon. Most vehicles will have this insurance in Koh Samui, as it’s very obvious when it’s missing.
For motorcycle, 323 THB up to 125 cc. 430 THB from 125 to 150 cc, 645 THB over 150 cc.
For car, from 600 to 1 000 THB according to the type of vehicle (sedan, pick up, truck, van).
Check if your Tax Road and CTPL is update ! Click here.
Voluntary
There are 4 basic types of voluntary cover, Class 1, Class 2, Class 3 & Class 3+. These relate quite well to the UK’s Comprehensive, Third Party Fire & Theft & Third Party Only respectively.
Class 1 – Provides cover for all accidents, regardless whether it’s your fault or not.
Example : Toyota Fortuner, new, value 1 000 000 THB, premium = about 20 000 THB / year
Class 2 – Provides cover for accidents to third parties only and if your vehicle is damaged by fire or stolen
Class 3 – Provides cover for accidents to third parties only
Example : Suzuki Caribian : about 5 000 THB / year.
Class 3+ - Provides cover accidents to third parties and a limited amount of cover for your own vehicle
There are other important features that you need to ensure are covered correctly in your policy.
Bail Bond - This needs to be 200,000 Bt. minimum and is necessary if you should be arrested and detained by the police.
Personal Accident - Minimum should be 100,000 Bt. per person
Medical Treatment - Should be minimum 100,000 Bt.
(most set this lower to reduce the premium)
Third Party Liability - Persons – 1,000,000 Bt. (usually)
Property – 2,500,000 Bt. (usually)
Third Party cover is the most basic cover available and require by law. It covers personal injury caused to any person or damage to their property for which you may be responsible. It gives no cover for loss or damage to your vehicle.
Deductible - You can chose : NIL, 2,000 THB or 5 000 THB.If you choose a deductible. The majority of Comprehensive policies are subject to an excess in respect of claims. This is commonly increased for performance or executive type vehicles. It is always wise to check on all policy excesses to avoid an unpleasant surprise in the event of a claim.
Named or Any Driver - It may surprise you that in Europe the driver is insured, however in Thailand it’s the vehicle. Naming a driver reduces the premium but will restrict payout if someone else is in the driving seat when an accident occurs.
No claims bonus - It is possible to obtain a discount if you can provide proof of No claims, even from abroad. Discounts usually range from 10%-50%. If you are a new driver you may be able to obtain 20% discount in your first year and it pays to shop around or better still get your broker to do the work for you. You should have your old policy to hand when you call your broker to ensure you get the best rate.
What to do in case of accident ?
When there is an accident, the Thais are trying by all means avoid official intervention (Police, Insurance Surveyor, etc..). This has already happened in Koh Samui.
The first rule is that in case of accident, you don’t move your vehicle. Even if vehicles are blocking 2 lanes. You don’t move the vehicle as the insurance or police did not take pictures and traced the exact location of vehicles on the ground. There is no agreement accident report in Thailand. The insurance surveyor moves systematically. They arrive within 20 minutes in Koh Samui traffic.
Chose a company which provides a 24 hour English speaking hotline.
And finally, why use a broker rather than going direct?
The answer is simple, if you go direct you will receive a quote from that company ONLY. A Broker however, will find the most suitable cover and the most competitive quotation from a selected range of companies. Also, in the event of an accident in Samui or wherever in Thailand, the Broker can liaise with the insurance company on your behalf, if you go direct, you’re on your own.
What will happen in the event of a motor accident? If the other vehicle has insurance then you may be able to claim against them. If they don’t you have to rely on your own insurance cover.
There are two types of motor insurance cover, Compulsory & Voluntary:
Compulsory
This is the ‘sticker’ which resides in the top left corner of your car window. It is also what the police initially look for, particularly in Nathon. Most vehicles will have this insurance in Koh Samui, as it’s very obvious when it’s missing.
For motorcycle, 323 THB up to 125 cc. 430 THB from 125 to 150 cc, 645 THB over 150 cc.
For car, from 600 to 1 000 THB according to the type of vehicle (sedan, pick up, truck, van).
Check if your Tax Road and CTPL is update ! Click here.
Voluntary
There are 4 basic types of voluntary cover, Class 1, Class 2, Class 3 & Class 3+. These relate quite well to the UK’s Comprehensive, Third Party Fire & Theft & Third Party Only respectively.
Class 1 – Provides cover for all accidents, regardless whether it’s your fault or not.
Example : Toyota Fortuner, new, value 1 000 000 THB, premium = about 20 000 THB / year
Class 2 – Provides cover for accidents to third parties only and if your vehicle is damaged by fire or stolen
Class 3 – Provides cover for accidents to third parties only
Example : Suzuki Caribian : about 5 000 THB / year.
Class 3+ - Provides cover accidents to third parties and a limited amount of cover for your own vehicle
There are other important features that you need to ensure are covered correctly in your policy.
Bail Bond - This needs to be 200,000 Bt. minimum and is necessary if you should be arrested and detained by the police.
Personal Accident - Minimum should be 100,000 Bt. per person
Medical Treatment - Should be minimum 100,000 Bt.
(most set this lower to reduce the premium)
Third Party Liability - Persons – 1,000,000 Bt. (usually)
Property – 2,500,000 Bt. (usually)
Third Party cover is the most basic cover available and require by law. It covers personal injury caused to any person or damage to their property for which you may be responsible. It gives no cover for loss or damage to your vehicle.
Deductible - You can chose : NIL, 2,000 THB or 5 000 THB.If you choose a deductible. The majority of Comprehensive policies are subject to an excess in respect of claims. This is commonly increased for performance or executive type vehicles. It is always wise to check on all policy excesses to avoid an unpleasant surprise in the event of a claim.
Named or Any Driver - It may surprise you that in Europe the driver is insured, however in Thailand it’s the vehicle. Naming a driver reduces the premium but will restrict payout if someone else is in the driving seat when an accident occurs.
No claims bonus - It is possible to obtain a discount if you can provide proof of No claims, even from abroad. Discounts usually range from 10%-50%. If you are a new driver you may be able to obtain 20% discount in your first year and it pays to shop around or better still get your broker to do the work for you. You should have your old policy to hand when you call your broker to ensure you get the best rate.
What to do in case of accident ?
When there is an accident, the Thais are trying by all means avoid official intervention (Police, Insurance Surveyor, etc..). This has already happened in Koh Samui.
The first rule is that in case of accident, you don’t move your vehicle. Even if vehicles are blocking 2 lanes. You don’t move the vehicle as the insurance or police did not take pictures and traced the exact location of vehicles on the ground. There is no agreement accident report in Thailand. The insurance surveyor moves systematically. They arrive within 20 minutes in Koh Samui traffic.
Chose a company which provides a 24 hour English speaking hotline.
And finally, why use a broker rather than going direct?
The answer is simple, if you go direct you will receive a quote from that company ONLY. A Broker however, will find the most suitable cover and the most competitive quotation from a selected range of companies. Also, in the event of an accident in Samui or wherever in Thailand, the Broker can liaise with the insurance company on your behalf, if you go direct, you’re on your own.
Ask free quotation now
Augustin FRENEHARD +66- 8 43 08 78 65
[email protected]
Vincent VIOIX +66-9 04 85 96 23
[email protected]