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Motor Insurance Questions

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Motor Insurance Questions

Jul 05, 2018

1) What does “Compulsory Motor Insurance (Act)” mean?

  • Compulsory Motor Insurance (Act) is an insurance compelled by law for all motor vehicles for liability for death or injury of the driver or third parties, but it does not cover their property damage.

2) Who is covered under the compulsory motor insurance (Act)?

  • Compulsory Motor Insurance (Act) is an insurance compelled by law for all motor vehicles for liability for death or injury of the driver or third parties, but it does not cover their property damage.

3) What does the compulsory motor insurance (Act) cover?

  • Actual medical expense for injury up to 80,000 Baht per person
  • Dismemberment from 200,000 to 300,000 Baht
  • Accidental date and disability 300,000 Baht per person
  • Hospital compensation 200 Baht per day (Max. 20 days)

4) What does “Voluntary Motor Insurance” mean?

  • “Voluntary Motor Insurance” is a motor insurance which is not compelled by law. This kind of insurance protects liability of the insured vehicle, and that of other vehicles to which the insured is responsible in each accident. It is can be purchased adding on the coverage by the compulsory insurance. It is regarded as a risk transfer from the insured to the insurer. When an incident takes place, the insurer has responsibility to compensate claims as specified in the policy to the insured. At any rate, the insured have to pay the premium to the insurer as agreed. Voluntary motor insurance can be grouped into 5 categories; namely,
    • Type 1 covers liability for life, third-party property, loss of, fire of, and damage to the insured car.
    • Type 2 covers liability for life, third-party property, loss, and fire of the insured car.
    • Type 3 covers liability for life and third-party property.
    • Type 4 covers liability for life and third-party property up to 100,000 Baht/time.
    • Type 5 divided into 2 subtypes; namely,
      • Type 2+ covers liability for life, third-party property, loss of, fire of, and damage to the insured car in case of a collision with a land vehicle.
      • Type 3+ covers liability for life, third-party property, and damage to the insured car in case of a collision with a land vehicle.

5) For motor insurance class 2+, can I make a request for claims in case the litigant disappears?

  • You can make for claims in case you can recognize the litigant’s vehicle registration, report the incident at the police station nearby to record in the daily report, and then make a request for claims to the insurer immediately. In case you cannot identify the litigant or the litigant’s vehicle registration, you could not be covered by motor insurance class 2+, since it is invalid to conditions of the insurance policy, which identifies that the litigant is a motor vehicle’s driver only.

6) Why aremotor insurance premiums for young drivers more expensive?

  • According to statistics and risks, road accidents tend to happened from young drivers because of inadequate experience of driving; accordingly, their motor insurance premiums are higher.

7) In case that the car was sold or transferred, does the motor insurance continue?

  • When the insured sells or transfers the insured motor vehicle without cancelling the insurance, the transferee is deemed as the insured under this policy, and the company shall be continuously liable under the remaining period of the policy. However, if the policy specifies a named driver, the insured must notify the company regarding the change of named driver, in order to adjust the premium rate according to the change of risk circumstances.

8) What should I do when my car encounters an accident?

  • In case of injury:
    • Take accident victims to the nearest hospital.
    • Report the accident to the officer and the insurer with date, time, place, and sequence of the accident apparently.
    • Wait for the insurance agent at the scene to coordinate the process. Do not negotiate claims by yourself.
  • In case of no fault:
    • Report the accident to the insurer with date, time, place, and sequence of the accident apparently.
    • Record the other vehicle’s details such as license plate number, brand, and model, along with the other driver’s name, address, and telephone number. Moreover, take pictures of your vehicle and the other vehicle, showing the damage.
    • Wait for the insurance agent at the scene to coordinate the process. Do not negotiate claims by yourself.
  • In case of fault:
    • Report the accident to the insurer with date, time, place, and sequence of the accident apparently.
    • Wait for the insurance agent at the scene to coordinate the process. Do not negotiate claims by yourself.
    • If requested, give necessary information to the other party.

9) What information is required to purchase policy?

  • Vehicle’s details including brand, model, license plate number, vehicle identification number, vehicle age, and engine’s size.
  • Your ID number, the driver’s ID number identified in the policy.
  • Old policy, if you require a discount for your good record
  • Credit card or debit card information for payment; otherwise, state your intention to pay by cash with money transfer via our company’s savings account.

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