Car Insurance in Thailand
Car Insurance, five main groups;
1. Compulsory insurance, CTPL; Minimal cover required to legal on the road in Thailand. Provides up to 50,000 Baht medical cover and 200,000 Baht death/disability compensation to third parties involved in accidents. Does not keep you out of Jail or pay for damages to other vehicles. (Premiums range from approximately 600 to 1200 Bt. depending on the type of vehicle insured).
2. Third party cover only, pays for compensation and medical expenses (Up to 1 million per person) to others and damages to their vehicles. This policy also includes a Bail Bond if the driver accidentally kills another person or seriously injures them. (Premiums range from 4,000 Bt. to 8,000 Bt. depending on the type of vehicle).
3. Second class; In addition to Third party cover; this covers your vehicle if it damaged by fire or stolen (Premiums depend on value of vehicle insured).
4. Fully comprehensive, First class; Pays for everything, including the repair costs for damages to your own vehicle (Premiums depend on value of vehicle insured).
5. Limited Full cover, better known as 3-plus-1 or 2-plus-1 type cover. Premiums are lower than First-class insurance and fixed (no no-claims discounts) according to the sum insured. Some policies have a deductible on own damage, some do not.
3-plus-1 cover is a Third-party insurance with limited cover against damages (100,000 to 1 million Baht.) to your own vehicle if you are at fault.
2-plus-1 cover adds Theft and Fire cover to a 3-plus-1 policy.