It doesn’t take long in Thailand to realize the incredible potential that having an automobile can have on your travel experiences. There are countless gems scattered throughout the country that are just waiting to be found by you, but most of those are completely out of reach if you lack the means of getting around.
Types of Insurance
In Thailand, drivers have their pick of several different levels of insurance, each one more comprehensive than the last. In fact, there are a total of six varieties to choose from, ranging from very basic liability to full coverage.
At the most basic level, the government minimum is available. This so-called CMI (Compulsory Motor Insurance) policy covers liability for the third party, as well as medical expenses to a certain degree. This option is, by far, the cheapest available but also the most limiting in what it provides. Obtaining one of the five VMI’s (Voluntary Motor Insurance) packages that are available is a much better idea.
Level 3 car insurance is one step above the government minimum. As with the CMI that comes in at close to 700 baht, medical coverage is provided. In addition to that, this plan also pays for third-party property damage, and it is available for around 3,000 baht.
Level 3+ covers all the same things that Level 3 does, but with the added property coverage for the policyholder. For just 2,000 baht per year more than Level 3 coverage, it is a smart choice in many situations. Damage to the driver’s vehicle will only be paid, however, if the damage came as a result of an accident with another car and if the driver of that car is known.
Level 2 insurance is very similar to Level 3 when it comes to accident coverage for personal property, third-party property loss, and medical expenses. Level 2 offers an additional layer of protection for issues with theft and fire.
Level 2+ insurance costs approximately 6,500 baht and covers much of the same things as Level 1 insurance, with the exception of damage to the insured car. Property damage to the driver’s car is only covered if the accident occurs with another car. Damage elsewhere (when parked, for example) is not covered. This tier can also be compared to Level 3+, but with the additional fire and theft protection.
The most costly, yet most comprehensive option available is Level 1 insurance. You can easily find this type of insurance here – ประกันรถยนต์ชั้น1.
This plan covers pretty much everything, from property damage to the insured vehicle as well as the third party vehicle, to damage to the vehicle at rest, theft, fire, natural disasters, broken windows, and much more. Coming in at nearly 20,000 baht, this plan is not for everyone.