You must have car insurance in Thailand
The law does require that you have the minimal insurance cover, to legally drive a car in Thailand., known as CTPL(Compulsory Third Party Liability), or 3rd Class insurance and you should have the insurance before the vehicle goes on public roads.
For those who need to cover damage to their own vehicle, then, Comprehensive car insurance provides much greater cover to all damage to your car, a must do, if you have newer vehicle and you want to protect your investment.
For your insurance to be valid, you must hold a current Thai driving license for the relevant vehicle i.e., car license for a car, motorcycle license for a motorcycle. Non compliance with the license requirements would mean the insurer may not cover you, or may pay out to the injured, but may make you the party personally liable.
Third Party insurance
In Thailand it is called 3rd class insurance. This kind of policy covers personal injury and damage and provides a bail bond, in the event of arrest. The only limits are the insured cannot be under the influence of alcohol or drugs or driving without a driving license.
Third Party Fire and Theft insurance
Know as 2nd class insurance, its the same as Third Part Innsurance, but includes coverage for your own vehicle against fire and theft.
Known as 1st class insurance, it's the most popular choice. The comprehensive insurance covers all of the above and any damage or accident caused by you, plus;
- Accidents, damage to your own vehicle caused by other party if they have no insurance or financial means to pay for the damage, but insurance terms may vary, subject to each individual insurance policy, check with your agent or broker.
- If you are a victim of a hit and run accident, but insurance terms may vary, subject to each individual insurance policy, check with your agent or broker.
- Malicious damage by strangers, but insurance terms may vary, subject to each individual insurance policy, check with your agent or broker.
Some insurers may offer discounts to reduce the premiums for transferable no claims discounts from your home country, committing to a proposed contract garage, instead of a main brand dealership, in the event of a claim for repair, limit the use of the vehicle to named drivers.
Always shop around for the best policy, make sure your read it and understand the limits of your cover. Dealing with a well know company may be the best choice.