Car insurance voluntary
If Compulsory Motor Insurance (CTPL/Por.Ror.Bor.) is the “legal foundation,” Voluntary Car Insurance is the “peace of mind we choose for ourselves.” This coverage fills the gaps where CTPL does not reach, especially regarding vehicle repairs and third-party property liability. Here is a summary of the popular types of voluntary insurance in Thailand to help you choose the one that best fits your lifestyle:Types of Voluntary Insurance Type: Main Coverage | Who is it for?
- Type 1: Most comprehensive coverage: Collisions (with or without another party), theft, fire, flood, and third-party property. Suitable for new cars (1-5 years), new drivers, or those seeking maximum peace of mind.
- Type 2+: Covers almost everything Type 1 does, but only for collisions with land vehicles (where a party is identified), plus theft and fire. Suitable for cars aged 5-10 years, experienced drivers, or vehicles parked in areas at risk of theft.
- Type 3+: Covers both your vehicle and the third party only in the event of a car-to-car collision; does not cover theft or fire. Suitable for rarely used cars, older vehicles, or those on a limited budget who still want protection for their own car.
- Type 2: Covers only the third party’s vehicle + theft and fire for your vehicle (does not cover repairs to your car in a collision). Nowadays, Type 2+ is more popular as the price difference is minimal.
- Type 3: Only covers repairs to the third party’s vehicle + excess medical expenses (no repairs for your car at all). Suitable for very old cars, vehicles that are mostly parked, or as a safeguard against heavy costs when hitting others.
Factors Affecting Premium Rates
If you are comparing prices, consider these factors:- Named Drivers: If there are only 1-2 regular drivers, specifying their names can help reduce the premium.
- Deductible: If you agree to pay an initial amount in the event of an accident (e.g., 3,000 – 5,000 Baht), it will significantly lower your annual premium.
- Dealer Garage vs. General Garage: Dealer garages (authorized centers) usually provide genuine parts but come with higher premiums. General garages may offer faster service at a more economical price.