What Are the Best Car Insurers In Thailand?
Driving in Thailand can be quite a dangerous activity. The Thai Road Accidents Data Centers has reported over 820.000 injuries and 12000 deaths on Thailand roads this year, reason why the WHO (World Health Organization) states it as the country with the second-highest rate of traffic-incident related fatalities in the world, and projections estimates a worst-case scenario of over 18000 yearly deaths for the next 6 years. That’s why car insurance is a very important tool when driving in Thailand, and choosing the right insurer is just as important to make sure you get the right coverage, for the right price.
- Roojai Insurance : Roojai is an online insurance provider that has been designed specifically for Thai customers. The company sources its products from Krungthai Panich Insurance (KPI), which is part of the Krungthai Bank group (KTB). Roojai offers a range of auto insurance, motorcycle and motorbike insurance, as well as health insurance products, such as COVID-19 insurance, cancer insurance and more. Roojai’s motivation is to encourage good driving and healthy living. To achieve this, the company provides curated insurance products and services that have been designed with customer satisfaction in mind. This is reflected in Roojai’s high customer service score and positive insurance claim satisfaction score. In contrast to traditional insurance companies, Roojai focuses on providing a full Insurance customer experience, rather than just acquiring new customers. This commitment to customer satisfaction has allowed Roojai to become one of the leading online insurance providers in Thailand.
- Viriyah Insurance: Created in 1941, it’s been considered Thailand’s number 1 leading non-life insurance company since 2016, with a current market share of 16.4%. They’ve been working for over 80 years in the non-life insurance business, recognized for their extensive experience, and have gained the trust of customers nationwide. Their insurance plan prices start at 6600 baht
- Syn Mun Kong Insurance: It’s one of the most popular brands in Thailand. Operating since January 27th, 1951, they offer a wide variety of different car insurance types and packages. With 63 nationwide branches, they also let customers choose coverage for different lengths of time, from 3 months and up to 1 year per insurance policy period, starting at a 6900 baht cost
- Muang Thai Insurance: Established on April 6th, 1951, was the first insurance to have received Royal benevolence, as the life insurance company of His Majesty King Bhumidol Adyulyadej. It currently has over 1.5 million customers and 23000 agents, 146 branches, 84 agent offices, and 377 network hospitals around all Thailand. Their plan prices start at 7100 baht
- Bangkok Insurance: Has been on the market for over 70 years, currently registering a 1,064.7 million baht capital. On 26 April 2004, His Majesty King Bhumibol Adulyadej conferred the Garuda emblem to the Company as a company under the royal patronage of His Majesty the King. At present, it possesses branches and offices throughout every region of Thailand and has many different insurance plans for different cars and drivers, like used-car insurance and big truck insurance. Their plans start on 6900 baht
- LMG Insurance: Previously named Narai International Insurance Co. Ltd, was first established on 27 November 1975, and in 2003 merged with another company, and changed its name to LMG Insurance (Public) Company Limited. With investment from the well-known Liberty Mutual Group of the USA, they expanded throughout all the provinces in Thailand with around 50 different branches and garage networks as well. Their plans offer a complimentary 24 Hr. Roadside Assistance Service
Cars in Thailand must have Compulsory Third-Party Liability Insurance (Por Ror Bor), which is the mandatory insurance for cars and motorcycles that offers basic coverage on injury or death caused by road accidents. However, most drivers opt for also acquiring private insurance to have some extra coverage. There are lots of options for private insurance, so taking time to search and compare is highly recommended, make sure to have all the information you need so you can make the best possible decision, because it’s always better having good insurance and not needing it, than needing it but not having it.