Insurance is something most of us have to deal when we buy a car. Most countries nowadays require compulsory insurance in order to cover certain basic expenses in the event of an accident. Thailand has a similar policy and all road drivers must have Compulsory Motor Insurance (CMI). In addition to CMI, there are four other types of car insurance that can be purchased privately by motorists. This insurance provides additional coverage that is not provided by CMI and will protect you should you get in any accidents.
Compulsory Motor Insurance
Compulsory Motor Insurance, also known as Compulsory Third Party Liability (CTPL) insurance, is required by everyone who uses a car in Thailand. This insurance does not cover any damages to your car or 3rd party property damage, so you will still have to sort this out separately, but it does cover basic medical care for both the subscriber and any parties involved.
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This compulsory insurance is regulated by Thailand’s Motor Insurance Act. There are two types of cover, immediate cover, and additional cover. Immediate cover is for all victims involved and is paid out within 7 days from the claim report. In total the immediate cover cannot be more than 65,000THB per person and it is split between medical expenses (30,000THB per person) and death or disability (35,000THB per person).
Apart from this immediate cover, the subscriber (a driver who pays CMI) is entitled to additional cover if there is proof that it was not their fault. This additional cover includes medical expense cover of up to 80,000THB per person, up to 300,000THB for any loss of vital organs, 300,000THB for death or permanent disability, and up to 4,000THB for daily compensation (200THB per day for a maximum of 20 days).
Comprehensive Car Insurance
Other than CMI, drivers can choose to take out extra insurance to cover property damages. There are four types of car insurance available in Thailand, 1st class, 2nd class+, 3rd class+, and 3rd class. Each of these packages offers different coverage, with the 1st class being the best and most comprehensive cover available in Thailand.
Although the 1st class is the most expensive, it is also the best one to have because it covers the full value of your vehicle. This way you won’t have to worry about any expenditure, for both you and any 3rd parties involved.
The further down you go the less cover, with 3rd class+ only offering 3rd party cover – nothing for your own damage. If you have a very old and cheap car, this might be enough for you. 2nd class and 3rd class each offer a little bit of cover for your vehicle but they always cover 3rd party property damage.
If you want to get car insurance, make sure you shop around so that you aren’t paying unnecessarily high premiums. These premiums also differ based on your driving record, whether you want to include the excess automatically, and whether you choose ‘insurer garage’ or ‘dealer garage’. Insurer garage means you have to take your vehicle to the garage chosen by the insurance company and dealer garage means you can take it directly to the car dealer, with the latter being 20% more expensive.