Dealing with Car Theft in Thailand: Immediate Actions & Insurance Advice

Car theft is undeniably a major issue that can leave car owners feeling helpless and overwhelmed with questions: What should I do next? Does my car insurance cover theft? Do I still need to pay off my car loan? 

In Thailand, where car theft incidents are not uncommon, it’s crucial to know the steps to take if you find yourself in this unfortunate situation. If you’re anxious and searching for information on this topic, we’ve compiled a list of important points and preventive measures to help you avoid this nightmare. Let’s dive in and see how to protect yourself and handle the situation effectively.

Step-by-step guide to handling car theft

Staying calm can be challenging when faced with the distressing event of car theft. It’s a significant problem that leaves many unsure of where to start. Here’s a step-by-step guide to help you navigate this situation:

Report the theft immediately

Once you’re certain your car is missing and not just misplaced, the first step is to report the theft to the police as soon as possible. Go to the local police station where the theft occurred and provide detailed information about your car, including the license plate number, colour, model, location, and time of the theft, as well as any valuable items inside the car. Filing a police report is crucial for both legal and insurance purposes.

Notify your insurance company

If your car insurance policy covers theft, the next step is to inform your insurance company immediately. Provide them with all necessary documents, such as the police report and your insurance policy. The insurance company will assist in the search for your car and guide you through the claims process.

Inform your loan provider

If your car is still under financing, you must also notify the loan provider about the theft. Remember, the car is technically still owned by the company. When you file a theft claim, the company will be the primary beneficiary. They will calculate the remaining balance on your loan and determine how much you still owe after the insurance payout.

Does insurance cover stolen cars?

It’s important to know that only three types of car insurance policies cover car theft: Type 1, Type 2+, and Type 2. Here are the details of their coverage:

• Type 1 car insurance: This provides the most comprehensive coverage, including repair costs for your car and the other party’s car, medical expenses for both parties, coverage for accidents without a third party, as well as fire, flood, and theft.
• Type 2+ car insurance: This offers extensive coverage, second only to First Class. It includes repair costs for your car and the other party’s car, medical expenses, and coverage for fire and theft.
• Type 2 car insurance: This policy covers repair costs for the other party’s car and medical expenses, as well as fire and theft.

How much does insurance cover for a stolen car?

If your car is insured under a type 1 insurance policy and it gets stolen without recovery, you can claim up to 80% of the car’s value. The reason it’s not 100% is due to depreciation and the number of years you’ve owned the car. The insurance amount is based on the car’s value at the time the policy was taken out. For example, if the car was valued at THB 650,000 when insured, you can claim up to 520,000 THB (650,000 x 80%).

Do you still have to make loan payments if your car is stolen?

A frequent concern when reporting a stolen car to the loan provider is whether you still need to continue making payments. As stated in Section 567 of the Civil and Commercial Code, “If the leased property is entirely lost, the lease contract is terminated.” This means you are no longer obligated to make payments, but there are certain conditions to be aware of:

If you have insurance coverage

If your car is stolen while still under financing and you have type 1 insurance, the insurance company will cover the remaining payments. However, if the amount exceeds the insurance coverage, you will be responsible for the difference. The court will determine the exact amount of damages. 

You must also settle any outstanding payments with the loan provider before the car was stolen. Other types of insurance that cover theft include type 2+ and type 2 policies.

If you don’t have insurance coverage

If your car is not insured or the insurance does not cover theft, you should stop making payments and promptly inform your loan provider. They will then guide you through the necessary steps. You may need to pay the remaining balance based on the current market value of the car. The court will mediate and determine the amount you owe to the company.

How to prevent car theft

Although you can never predict if and when your car will be stolen, there are measures you can take to prevent it from happening. Here are some effective tips to help you protect your vehicle:

1. Lock your car and don’t leave it running unattended: Even if you’re stepping away for just a moment, ensure your car is securely locked and never left running, as this invites theft.
2. Prevent key duplication: When leaving your car for repairs, cleaning, or any service involving third parties, only leave the car key.  Keep all other keys with you to avoid the risk of duplication. 
3. Avoid parking in isolated areas: Never park in secluded areas, especially overnight. Choose safe, well-lit parking spots to deter thieves. 
4. Install an anti-theft system: Devices like steering wheel locks, brake and clutch locks, and alarms can make your car less appealing to thieves 
5. Keep valuables out of sight: Don’t leave items like phones, bags, or electronics visible inside your car.

In conclusion, dealing with car theft can be stressful, but knowing the right steps can make a significant difference. At Roojai, we offer comprehensive car insurance policies with extensive coverage, including theft protection, to ensure you’re well-prepared for any unexpected events. With affordable premiums, a streamlined claims process, and highly-rated customer support, Roojai provides the best value and peace of mind. Protect your car today by visiting our website or contacting us for a quote. 

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Definitions

Loan provider	The financial institution that provided the loan for purchasing the car.
Depreciation	The reduction in the value of the car over time, which affects the insurance payout.
Market value	The current value of the car in the market, which may be used to determine the amount owed if the car is not insured.
Outstanding payments	The remaining loan payments that need to be settled with the loan provider.
Primary beneficiary	The entity (usually the loan provider) that receives the insurance payout in case of a theft claim.