Motorbike Insurance FAQ
Remove the questions you have in mind. We’re here to help you with all of your motorbike insurance questions.
Is Motorbike Insurance Required?
Motorbike insurance is required to cover both your own accidents and the injuries of others.
If you’re a new driver or have over ten years on the road, you’ll need Motorbike Insurance to support yourself financially in the event of an accident. Different coverages can be available depending on the package you choose.
Key Points
- Whether you are a new driver or an experienced driver for many years, you still need to have motorbike insurance to support yourself financially in the event of an accident.
- Regardless of how old the motorbike is, whether it is more than ten years old, the compulsory insurance or the Motorcycle Act is a must-have.
- Compulsory Motorbike Insurance coverage will not be enough even if you just ride your motorbike occasionally that is why it is advised to buy voluntary motorbike insurance.
I Have a Motorbike That Is Over 10 Years Old. Can I Insure It?
Regardless of how old the motorbike is, whether it is five or more than ten years old, the compulsory motorbike insurance or the Motorcycle Act is a must-have. In most cases, however, insurance firms decide whether or not to insure a motorbike based on its condition.
There are considerations when buying insurance for motorbikes over 10 years such as the following.
1. Coverage available: The market is flooded with insurance providers. You should first decide which cover you want and then evaluate it. With the online facility, obtaining insurance has never been easier. It’s easy to compare prices and deals.
2. Insured Declared Value: For the current policy year, you should always know what your motorbikes insured declared value is. Also, be mindful of the insurance premium you would pay.
3. Policy conditions: If you’ve chosen an insurance agent, make sure to read the policy conditions. There may be a clause elsewhere, such as deductibles, that you will find later.
What Are the Difference Between Motorbike and Car Insurance?
In terms of category structure, motorbike insurance is equivalent to car insurance, with Type 1, Type 2+, and Type 3+. Motorbike insurance premiums, on the other hand, are much cheaper.
The main variations between car and motorcycle insurance stem from these two ideas. Motorcycles are usually less expensive than comparable cars, but the probability of an accident resulting in serious damage to the motorbike and the rider is higher.
To stay out of trouble on the road, you should get motorbike insurance.
Is Compulsory Motorbike Insurance Enough?
Thai law mandates that all vehicles have compulsory insurance. It includes certain basic elements, such as injuries to vehicle occupants including the driver, and injuries to other people caused by the vehicle’s use. The coverage is extremely restricted. The estimated coverage is only 300,000 THB, and it excludes damage to the insured vehicle or other vehicles.
Compulsory Motorbike Insurance coverage will not be enough even if you just ride your motorbike occasionally. Voluntary Motorbike Insurance can, in most cases, have complete coverage on the road as well as greatly increased coverage in the event of accidents and property damage liability. Any passengers who are involved in the accident are also covered by voluntary motorbike insurance.
Experience a stress-free and comfortable ride knowing that you are safe with motorbike insurance.
How Does Motorbike Insurance Type 2+ and Type 3+ Differ?
The biggest distinction between Type 2+ and Type 3+ insurance is that Type 2+ has higher premiums but also has more comprehensive coverage, which is only applicable to motorbikes that are less than 5 years old. In addition to the protections provided by compulsory and Type 3 policies, Type 2/2+ bike insurance includes fire, theft, and flood coverage. Type 2+ is suitable for your needs if you want affordable motorbike insurance that covers damage to your bike in traffic accidents, as well as coverage for lost or stolen vehicles and damage caused by natural disasters. Type 2 motorbike insurance in Thailand, however, excludes coverage for damage to your motorbike as a result of an accident.
While on the other hand, Type 3+ insurance is only valid for motorbikes that are less than ten years old and does not cover theft. In addition to what is protected by compulsory insurance, a basic Type 3 policy would provide third-party responsibility for damage to property/vehicles in the event of an accident. Type 3+ Thailand motorbike insurance policies also protect your own motorbike, regardless of who is found to be at fault in an accident.
How Can I File a Motorbike Insurance Claim?
It’s easy to make a claim on your motorbike insurance. Simply notify your insurer as soon as the incident happens, or within 24 hours. In the event of a missing or stolen motorbike, the insurance provider can request a copy of the police notice as well as the vehicle registration documents at the start of the claim process. You should do a few things to help your claim succeed.
1. Make inquiries to decide whether the other party is covered by insurance. This can include calling the rider or motorist and verifying their insurance status. You can report them to the police if you find out they aren’t, or if they fail to provide insurance details.
2.Then, to report the incident, contact your insurer. They would be able to look up the accused rider’s or motorist’s previous insurance records in the Motor Insurer’s Database.
3. After you’ve completed these measures and collected as much information as possible about the rider or motorist, submit your claim. You have the option of sending it online or by mail or directly go to the insurance company.