What is Compulsory Motor Insurance and how is it different from car insurance in Thailand?

policeman leaning on sports car's window

Compulsory motor insurance or an act of insurance legislation is insurance according to the Road Accident Victims Protection Act, B.E. 2535 which states that all types of cars and motorcycles that are registered with the Department of Land Transport including all motors that are driven by engine power, electricity or other energy need to have this compulsory motor insurance.

The objective of compulsory motor insurance is to protect and help people who got injured or passed away from accidents to get immediate healthcare service or get funeral expenses. The compulsory motor insurance will also protect hospitals and healthcare centres to get medical expenses for car accident victims.

Who has to have compulsory motor insurance?

Those who have to have compulsory motor insurance are car owners, car hire purchasers and people who bring cars that are registered outside of Thailand to be used in Thailand. If those do not have compulsory motor insurance, they need to pay a fine not more than 10,000 baht.

Who will get the benefit?

Those who can get benefits from compulsory motor insurance are people who experience accidents including drivers, passengers and pedestrians.

Where you can get compulsory motor insurance in Thailand?

You can get compulsory motor insurance from any insurance companies in Thailand.

How much does it cost for compulsory motor insurance in Thailand?

Interest rate for compulsory motor insurance is fixed interest rate according to the type of cars and how you use it. Interest rate for cars for not more than 7 passengers is 600 per year for personal cars and 1,900 baht per year for public or service cars.

What are the differences between compulsory motor insurance and car insurance in Thailand?

Compulsory motor insurance will cover cost for victims from car accidents but car insurance will cover cost of car from accidents, healthcare cost and cost that occur from your car getting stolen or destroyed from natural disaster which are various in each class of car insurance and offers from insurance companies.

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