Motor Expo 2026

Having a car might not be easy for many people, because once you have a car, many expenses follow, and one of them is "insurance". Let's see how, once our car has insurance, we can reduce premiums in subsequent years or make claims? To make it worthwhile... Because buyingcar insurance, or any type of insurance, is similar to investing in a car. Buying insurance definitely requires paying premiums. Therefore, before buying, you must clearly define your objectives: what do we want, how much money or investment is needed, and what benefits will be received, and to what extent do they align with our desired objectives? 

 The Compulsory Motor Insurance Act protects “people,” not “cars.” 
Some people drive well, with no minor accidents, so having just Compulsory Motor Insurance in the car might be enough. For example, the objective of the Compulsory Motor Insurance Act is to provide coverage for everyone who suffers damage from a vehicle, whether they are the driver, passenger, occupant of another car, or pedestrian. They will receive legal protection under the Compulsory Motor Insurance, but with a limited initial coverage amount not exceeding 50,000-100,000 Baht, aiming to primarily alleviate damage to life and body caused by vehicles. It does not include criminal damages, bail for the driver in criminal cases, damage to the insured vehicle itself, damage to other vehicles, and damage to third-party property. If we choose to buy only Compulsory Motor Insurance, as mandated by law, we must accept the remaining risks ourselves. If we think we can accept it because we've been driving very well since birth and have never hit anything, neither people nor other cars, and our car has never had any dents or scratches from minor collisions, then buying only Compulsory Motor Insurance would be worthwhile and most economical. [Click to read here]

Should I add more risk coverage with Type 1, 2, or 3 insurance?
If you think that Compulsory Motor Insurance alone might be a bit risky, because in the past you've rear-ended someone, and you see cars getting into minor collisions on the road every day, it seems unsafe and not worth the risk. Therefore, adding a small amount to the premium for Type 3 insurance might be more worthwhile. If by chance you happen to get into a minor collision with someone, having insurance to help compensate will provide peace of mind. If your car is old and has some minor scratches, don't worry about it; you can still repair it once every 2-3 years. It's better to save the money from expensive insurance premiums and pay for repairs yourself. In this case, buying Type 3 is sufficient. 

But if your car is still new and you're worried about theft, you can choose to pay a higher premium according to your budget. For Type 2, it adds coverage for car theft and fire. For Type 1, it includes coverage for the insured vehicle itself for repairs due to minor collisions, major collisions, and rollovers. This is known as comprehensive all-risk coverage, which is often popular among general consumers. However, we must accept that higher premiums will be required. If you feel the risk is high, Type 1 insurance might be advisable. Furthermore, we can increase or decrease the premium for the first insurance purchase, or the first year and subsequent years, by adding or removing conditions in voluntary insurance types 1, 2, or 3. Examples include adding conditions for criminal bail coverage for the driver or increasing personal accident coverage for the driver and passengers in the insured car beyond what is covered by Compulsory Motor Insurance, including additional medical expenses, which can also be purchased by stating the objective and paying a small additional premium. 

How can premiums be reduced?

-Naming the driver Premiums can be reduced by purchasing insurance with a named driver, which provides a discount of 5-20% depending on the driver's age. Alternatively, purchasing insurance with an agreed-upon deductible (first loss) can reduce premiums by 1,000-5,000 Baht.

-Good driving record, no claims Additionally, if we present a good driving record from the previous year's insurance with the same company, premiums can be reduced by another 20-50%. Including these discounts, this can result in significant savings, making it the most worthwhile purchase.

-Installing a dashboard camera Recently, the Office of Insurance Commission or (OIC) has recognized the importance of installing cameras in vehicles and has issued an order for insurance companies to provide a 5-10% discount on car insurance premiums for vehicles equipped with CCTV cameras, which is now in effect. (Click here to read details)  

You can claim, but this way of using insurance is not effective and not worthwhile!

It can be seen that many people, after buying insurance, often think of using it to its full potential, just like eating at a buffet – eating as much as possible and choosing the most expensive items. The same applies to car insurance; they will relentlessly claim everything to make it worthwhile: bumping into this, scratching that, fixing their own car, fixing the other party's car, multiple times a year, without caution in driving, claiming it's their right to claim because they bought insurance. Yes, you can claim, but this way of using insurance is not effective and not worthwhile!

Because we buy a car to use it, we should be able to use it for a full 365 days, not have it in the garage for repairs for 3 or 6 months. Besides not being able to use it, a car that has been involved in many accidents, claimed many times, and repaired many times also suffers a lot, depreciates in value, and loses price when resold. In the renewal year, the insurance premium will be adjusted upwards, leading to higher payments again. In this case, it's guaranteed that using the insurance won't be worthwhile. The word “worthwhile” therefore means paying less and less, saving money, but still getting the maximum benefit in all aspects, not getting more expensive the more you use it, or depreciating in value the more you use it. Is it worthwhile? Isn't that right? 

Compiled from: autoinfo.co.th - www.autoinfo.co.th