How we calculate premium

Car Insurance Premium Calculations

Below is a simple table of factors that insurance providers in Thailand usually take into account when calculating premiums.

Car Profile Description
Model Type Sports cars cost more to insure than regular sedans
Engine Capacity Bigger engines result in bigger insurance premiums
Engine Type Turbocharged engines are more expensive to insure
Year of Manufacture While older cars mean lower premiums, some providers do not cover cars that they feel are ‘too old’.
 

Some providers will seek more detail about drivers and will use statistical experience to provide more accurate premiums. Below are a few simple examples, although many providers in Thailand do not currently assess in this way.

Driver Details Description
Age Age and driving experience should lower premiums.
Gender As groups, men and women can have different risk profiles.
How You Drive Those who use their car for private use and commuting to and from work tend to be lower risk than those who use their vehicle during work and for commercial purposes. Drivers with a history of high claims may have to pay much higher premiums, or could be rejected altogether.

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