Expectations for Car Insurance Sector in Thailand

Thailand is a Land of Smiles, but the smile vanishes when someone has access to its accident figure. Human population has surged in many parts of the globe but more than this is surge in population of vehicles on the roads. One of the reasons could be that people have acquired more purchasing power and have more money to invest on comfort and luxury. The basic needs of many people are already satisfied and achieving luxury is their next aim.

Road accidents in Thailand

Thailand’s economy is already on the path of recovery and Thai population enjoys this situation. Thailand witnesses over 60,000 road accidents annually. When traffic crowd is getting dense on roads, someone has a chance to encounter an accident how careful the driving may be. The presence of two-wheeled vehicles such as motorbikes on the roads further aggravate this risk as they ride in a wrongful manner. They take cuts between moving vehicles unpredictably from any angle. The buses move on a fast speed. People suddenly apply a brake and park their car on any place. Taxi drivers are in habit of changing lanes without an indicator.

Car insurance

Boon for Thai car insurance industry

Thailand depicts a baffling scenario of traffic which pose a great hazard of accidents that are inevitable. Most suffers are car drivers because they are not at ease of driving on these roads and many times face accidents due to some other’s fault. This traffic chaos has created boon for Thai car insurance industry for more information you can visit atroojai.com.

Growth of Thai car insurance industry

The vehicle insurance sector in Thailand is, therefore, set to grow upwards with this boon and its value is anticipated to touch approximately 6.29 billion U.S. dollars in 2025. The vehicle insurance companies have assessed this situation and therefore offer multiple choices of car insurance for Thailand drivers and also for motorcycle riders. The Thai insurance industry is government regulated and people have good options to avail from this industry.

 

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