Anyone that has witnessed the havoc on the roads of Thailand that are considering driving on them will be out of their mind if they did not take on some kind of car insurance. In fact, you can expect to get into a lot of legal trouble if you do not have any car insurance – especially if you are the cause of an accident.
With all of that in mind, let’s take a look at the different types of car insurance that you can take advantage of in Thailand.
Compulsory Motor Insurance
The most basic level of car insurance in Thailand and the very minimum that every car on the road has to have is that of CMI or compulsory motor insurance. This insurance is there to cover for any injuries suffered by any passengers in your car, drivers or passengers in another car and civilians on the street that may have been injured due to an accident caused by you.
This insurance will not cover any damage to any vehicle or property in an accident. This is why it is always recommended that you go for additional voluntary motor insurance instead.
Additional Voluntary Motor Insurance
VMI (voluntary motor insurance) is something that all car owners should consider greatly as it will provide far more protection than that of CMI. This type of car insurance is available in four different types and we have broken each of them down below:
- Type 1
Type 1 VMI is the highest type of insurance that you can get and it will cover pretty much everything. Damage to your own vehicle as well as third-party injury to any passengers, drivers and civilians and third-party damage to property are all covered here. Fire, theft and natural disasters are also covered too as well as broken windows and towing expenses. Any car that you are planning to buy on finance will require you to have this level of cover. Find out more about level car insurance from Direct Asia here: ประกันรถยนต์ชั้น1.
- Type 2
This is a fairly basic form of car insurance that is very similar to any third-party fire and theft car insurance that you can get in other countries. This will cover fire, theft and any damage to any third-party property and also injuries to any third-party as a result of an accident caused by you.
- Type 2+
Type 2+ is very similar to Type 1 but there will be limitations on how much cover your own vehicle will get. Specifically, any damage to your vehicle that was caused by yourself, will not be covered.
- Type 3
A very basic car insurance that covers only damage and excess injury by any third-party. There is no cover for your own vehicle and this does not include fire and theft. This type of insurance should only be taken up if your vehicle is not worth that much and is cheap to repair.
- Type 3+
A slight improvement on Type 3 car insurance, Type 3+ provides all of the coverage of Type 3 but also adds in some limited coverage for your own vehicle if it suffers damage from collisions.