Insurance

This Article is part of the Thai Motorcycle Law

Synopsis

1. You must insure your motorcycle
2. You must attach the insurance sticker on your motorcycle where it can be clearly seen.

As in many other countries, the automobile insurance system in Thailand is two-tiered:

1. compulsory insurance
2. additional (optional) insurance.

This chapter deals with the compulsory insurance.

The Protection for Motor Vehicle Accident Victims Act (1992) stipulates that the owner of a motor vehicle takes out insurance on the said motor vehicle with an authorized insurance company. Failure to do this is liable to a fine between 10,000B and 50,000B. Notice the responsibility falls on the “owner” and not the “driver,” unless the vehicle is under hire-purchase contract or temporarily imported from abroad, in which case the responsibility falls on the driver.

There are more than a dozen authorized insurance companies in Thailand which offer the compulsory insurance. As the contract is prescribed by the law, all insurance companies basically offer the same benefits and premium rates.

Upon taking out insurance, you receive an insurance policy and an insurance sticker. The law requires that the owner adhere the insurance sticker on the motor vehicle. Failure to do this is liable to a fine not exceeding 2,000B. Notice, again, that the responsibility falls on the “owner.”

When you buy a motorcycle at a motorcycle shop, the shop will usually arrange for the insurance. But not all motorcycle shops are insurance agencies, and you may not be able to extend the insurance at the same shop. Some alternatives are:

1. directly visit the insurance company,
2. extend the insurance at the Land Transport Office - whether with the government-chosen insurance company or, when available, with another insurance company whose agents are in wait around the Land Transport Office,
3. pay at a post office.

Premium Rates for Motorcycles per annum

Not exceeding 5,000,000B per accident.