Tuesday, December 24, 2013, AM | Leave Comment
When it comes to mainland Asia, car insurance can be a tricky thing. In heavily congested regions like Hong Kong, owning and driving a car can be very expensive. Yet, in places like Thailand, where there is a little bit more space, the costs aren’t quite as crippling.
It’s important to be aware of the fact that there aren’t a lot of expensive vehicles in Thailand – if you own a valuable car, you might have to pay a high premium.
Fortunately, road regulations in this part of the world are fairly straightforward, says About.com journalist Suzanne Nam. It isn’t difficult to obtain an insurance policy in Thailand, nor is it a very lengthy or complex process.
If you are very much determined to own your own car, it is vital that you learn the rules of the road. There is no excuse for moving to another country, and not taking the time to familiarise yourself with its laws.
When To Risk It
Whilst you must be covered for third party accident, injury and fatality in Thailand, you do not have to be covered for damage to your own vehicle. This is completely optional.
Third party car insurance is a legal requirement and you must have a suitable policy, if you are to avoid a very serious penalty.
Most insurers are happy to throw in third party damage cover as part of a third party policy. You can be covered for almost all eventualities, without purchasing a more comprehensive policy.
Don’t buy anything more than basic cover, unless you drive a very expensive vehicle or you live in an extremely dangerous part of the country.
Wait Until You’re Older
If you’re determined to get a cheap deal on your car insurance, you’ll have to wait until you are over twenty five years old. Just like in Britain, young drivers are considered to be a much bigger risk than older ones. It doesn’t matter whether this is fair or unfair, it’s standard practice in Thailand and the rest of mainland Asia, say the experts at LocalIiz.com.
Why not think about using the public transport system, until you get a little bit older and your insurance premiums drop? It will be a frustrating wait, but more than worth the patience and foresight.
Keep Driving Safely
Once again, drivers in Thailand who have less than two years experience do have to pay a higher premium. There’s very little that you can do about this – the only way to tackle it is to drive like a pro for two years. Then, you’ll be free to take advantage of much lower premiums as a reward.
It’s going to feel frustrating at first, but it is a measure that has been proven to reduce vehicle collisions and fatal road accidents. If you’re serious about becoming a driver in Thailand, you’ve got two years in which to prove yourself.
If you’re an experienced driver who can provide evidence of accident free years, your premium will be much lower.
Drive A Small Car
It is true that vehicles over the age of ten years attract significantly higher premiums. The same can be said for convertibles and sports cars. If you want to find a relatively cheap insurance policy, you must have a suitable car for it. Generally speaking, the smaller the engine, the more affordable the policy. If you only need a small car, you should only buy a small car. That way, you’ll be guaranteed much cheaper insurance premiums.
Rosette has been an insurance broker for seventeen years. For a reliable, affordable insurance quote, she recommends www.directasia.co.th. She can usually be found giving clients advice on how to maximise the value of their policy.