OIC sets five flood-damage levels for vehicles

The Office of Insurance Commission (OIC) in Thailand has established five levels of damage assessment for flood-affected combustion-engine vehicles, depending on the depth of water inundation. Insurers are preparing for a potential spike in flood-related claims once the waters subside. For electric vehicles, damage assessments must also account for battery and other vehicle damage, as well as manufacturer-specific requirements.

OIC Secretary-General Chuchatr Pramoolpol strongly advised flood victims to prioritize safety and avoid returning to hazardous areas to gather insurance evidence. If a location remains inaccessible, policyholders should inform their insurers and collect additional evidence when it is safe to do so. Flood-damaged vehicles should be checked against policy coverage; Type 1 policies include flood damage, while Type 2+ and Type 3+ policies may require additional coverage.

Drivers should refrain from starting flooded vehicles, as this could exacerbate engine, electrical system, and interior damage. Photograph or record the vehicle's exterior and interior, including water levels or watermarks, before notifying the insurer. The OIC has instructed insurers to increase staffing, establish additional claims channels, and access flood-stricken areas as soon as conditions permit.

Insurers must expedite damage assessments and submit relevant documents within seven days for total-loss cases. The regulator has developed a central directory of insurers' claims channels on its website and LINE Official Account to streamline policyholder interactions, with a 24/7 hotline available for inquiries and assistance.