While Thailand does not yet have a version of car insurance that exists in Western countries, one thing it does have is Actual Cash Value (ACV). This means that the insurance company will settle the claim with the current value of the car at the time of the accident. Of course, you may have to pay for the remainder of the expenses, but that’s better than having to pay for everything.
Thailand car insurance companies are very picky about the amount of coverage that you need, which is why you have to be sure you’ve kept a sufficient amount of cash on hand at all times when you’re in Thailand. In some cases, if you have a certain amount of coverage (such as Comprehensive and Collision), your insurance company will require you to either purchase auto insurance or have auto insurance purchased through them. If this is the case, you may find that your coverage is very limited.
What You Should Do
Below are just some of the many things you can do when choosing the insurance company as well as the type of coverage that would best fit you.
1. Read the fine print.
Thailand car insurance (in the Thai language that is ประกันรถชั้น 1) also has a deductible and similar minimum limits to other types of insurance coverage available in other countries. It’s always important to either read the fine print yourself or have an English speaking law firm in Bangkok read the fine print of any policy that you are considering for you. This can vary widely between insurance companies, so comparing quotes is definitely the best way to go about it. You can save a great deal of money by making sure that the Thailand insurance company you choose covers both car accidents and Thailand travel accidents, otherwise you may eventually need the services of a Thailand litigation lawyer to handle any disputes.
2. Consider as many options as you can.
Before you choose your Thailand car insurance, make sure you look around online for a number of different options. Some of the most popular types of Thailand auto insurance include Non-Owner Car Insurance, Vehicle Registration, and Licensing, and Road Accident Protection. These cover aspects of your Thailand trip that you would likely not be covered if you choose to go with just one insurance company. For example, non-owner car insurance will insure you for damage to the cars of others if you are at fault in an accident, but you will not be covered for damages to your own car. On the other hand, a valid license and proof of registration will cover you in the event of a road accident in Thailand.
3. Take pictures of the vehicle.
It’s also a good idea to take a number of pictures of the vehicle you plan on driving. Thailand car insurance companies offer online photographs of their vehicles and this is a great way to get prices for your Thailand car insurance. Thailand car insurance companies will normally require a set of photographs to show proof of ownership.
Once you’ve found a good company and chosen a plan that suits your individual needs, you can start shopping for your Thailand car insurance. In most cases, you should be able to complete your purchase over the Internet with a few clicks of your mouse.
