Motor Expo 2026

From the spread of the Coronavirus COVID-19, people have had to change their way of life, affecting their income. People who own cars, even though they use their cars less, still have the burden of paying annual car insurance premiums. Therefore, the OIC has issued insurance measures to help people affected by the situation. 

The Secretary-General of the Office of Insurance Commission [OIC] as Registrar, signed Registrar's Order No. 31/2563 on the use of standard policy wording and car insurance premium rates for daily, monthly, quarterly, or long-term policies, etc., to relax the terms and premium rates of car insurance policies. This allows insurance companies to calculate premium rates on a daily, monthly, or quarterly basis and use short-term premium rates, as well as giving insurance companies the option to calculate premiums on a daily average basis. This will alleviate the burden and increase options for policyholders to be able to make insurance policies consistent with car usage, where policyholders may agree with insurance companies to create short-term car insurance policies, adjust insurance policies to suit the risks, and choose to pay premiums according to their ability, as well as choosing coverage for the desired period. Read full details here

Recently, the page PR OIC has summarized the new car insurance, with daily premium payments, effective for contracts with companies from April 22 to June 30, 2563 (2020), as follows:

Advantages of the new car insurance

Conditions for making new insurance policies

Advantages of short-term voluntary insurance policies

Advantages of long-term voluntary insurance policies

In addition, companies may issue long-term car insurance policies to policyholders, where the insurance policy has a coverage period exceeding 1 year but not exceeding 3 years and uses the same basic premium throughout the coverage period, with the 2nd and 3rd years using basic premiums of 95% and 85% of the 1st year, respectively, which will meet the needs of policyholders who wish to create long-term car insurance policies. Additionally, companies may issue car insurance policies under the Motor Vehicle Accident Victims Protection Act, etc., with a coverage period exceeding 1 year but not exceeding 3 years, by using an average premium rate, which will benefit by keeping the premium rate from increasing throughout the insurance period. This order is effective for insurance contracts with companies from April 22, 2563 (2020) until December 31, 2563 (2020)

For more information: OIC Hotline 1186 or at www.oic.or.th or Corporate Communications Department Tel. 0-2515-3998-9 ext. 8307 Fax. 0-2513-1437 facebook: PR OIC 

Image source:  PR OIC