How to Buy the Best Car Insurance Class 3 in Thailand: A Comprehensive Guide
Looking to buy the best Class 3 car insurance policy here in Thailand? Look no further! Our platform offers extensive customization options, enabling you to tailor your coverage to suit your needs.
Here are the details of Class 3 voluntary car insurance coverage:
Third-party liability coverage
Liability for bodily injuries or death/person and liability for bodily injuries or death/accident
Up to THB 5,000,000 per occurrence for property damages and up to THB 3,000,000 per person and THB 10,000,000 per occurrence for bodily injuries and loss of life.
Property Liability
The policy compensates for damages to third-party property or individuals caused by your vehicle during the insurance period up to the amount specified on the policy. This includes property damages.
Additional Coverage
Personal accident coverage
The policy offers compensation for the loss or bodily injuries of the insured person(s) caused by the loss of life, hand, foot, vision, permanent disability, or temporary disability.
Medical expenses
The policy covers actual and reasonable medical expenses, surgical expenses, and hospital service expenses for any covered person who sustains bodily injuries caused by an accident while in, entering, or exiting the vehicle.
Bail bond coverage
The policy covers bail bond coverage in case of detainment by a third party or the police.
Additional Options for your car insurance policy
Deductible/ excess
When purchasing an insurance policy, the insured typically has the option to select a deductible and excess amount. The deductible is the amount of money the insured must pay out of pocket before the insurance policy begins to cover the remaining cost of a claim, while the excess is the amount the insured agrees to pay in addition to the deductible. By choosing a higher deductible and excess, the insured is effectively taking on more financial risk in the event of a claim. However, this increased risk results in a lower premium, as the insurance company can reduce their potential payout in the event of a claim. In other words, the insured is willing to pay more out of pocket in exchange for a lower premium. Therefore, selecting a higher deductible and excess can help make an insurance policy more affordable.
Repair types
When it comes to Class 3 insurance policies, there is only a garage option available.
Dealer repair type & Garage repair type
The dealer repair type allows you to get your car fixed at the manufacturer's dealership, whereas the garage repair type involves getting your car fixed at one of the networked garages of the insurance company. While both options have their advantages, the dealer repair type is generally considered to be more expensive than the garage repair type. This is because the manufacturer's dealership often charges higher rates for parts and labor. On the other hand, the garage repair type may be more convenient and cost-effective, as the insurance company has pre-negotiated rates with their networked garages. Ultimately, it's up to you to decide which type of repair option works best for your needs and budget.
