Expat Guide To Motorcycle Insurance in Thailand

For many people Motorcycling is a hobby that people engage in for fun and stress relief. So the idea of thinking of getting insurance coverage is something we want to put at the very end of the table. There are different kinds of insurance in Thailand. Basically, companies consider motorcycles very high risk so they don’t really have a lot of offers and promos for Bike Riders.

If you’re just looking for 3rd party insurance or just insurance for when you get into an accident that won’t cover your bike. Coverage for this is easy and cheap you can get 3rd class insurance for as low as 1,699 / year and there are higher coverages that will give your bike 10,000 baht coverage, the cost for that would be around 2,300 / year.  This kind of coverage is basically coverage for 3rd party liabilities and the such but it won’t give your bike much cover. If you’re concerned about your bike then you have to buy First Class Insurance.

The problem with First Class Insurance is that certain bikes do not qualify. Most bikes that are under 250cc do not qualify for First Class Insurance. If your Bike is 250cc and up you can qualify but it also depends on your bike’s age. If its 5 years old, some bikes don’t qualify anymore. That’s why with Big Bikes, there’s no instant insurance as most companies have to assess the bike first before giving it coverage.

Here’s a short summary on the difference between 1st, 2nd and 3rd Class Insurance

1st Class Insurance -

This gives cover for your bike, lets say your bike is worth 135,000 baht then the insurance company will give coverage to your bike if it's stolen or broken. Most companies in Thailand have a deductible for Big Bikes. The lowest deductible given to Big Bikes would 15,000. 1st class insurance also provides higher coverage for Bail Bond and Liability for Property.

2nd Class Insurance -

Does not give much cover to your bike. It only gives 10,000 baht coverage for your bike if the age of your bike is within 3 years. If your bike is over 3 years the coverage reduces to 5,000. Age limits for bike is 5 years old. Also gives coverage for Third Party Coverage, Bail Bond and Liability for Property.

3rd Class Insurance -

This coverage mostly covers third party but there is no vehicle age limit. Provides third party coverage, bail bond and liability for property.

For more information on this contact a broker or check out Motorbike insurance plans in Thailand and you the insurance plan that would suit you the most.