Not sure its crazy but certainly different. I have some Thai friends who unnoficially rent out their cars, standard insurance, regular claims which seem to be accepted by the insurers. Other Thais seem to assume that they must put their vehicle in at the end of every insurance year for all small dents scratches to be repaired. So no real concept of building up a no claims bonus.
Muang Thai insure my BMW, done via BMW finance. 1 year old still insured for 950K Baht, so quite good, cost came down by 1000 Baht from previous as lower sum insured, but could not persuade them to give me a discount for no claim in last 12 months.
They also do not have any idea of driver experience or age risk. Same cost for a young lad as for old gits like me. Very different from UK where the companies know the accident potential of the different agegroups and charge accordingly.
Its still a young industry over here, interesting to see how it develops as more higher powered bikes hit the roads and the insurance companies start to build up some data. Maybe move to insuring the driver as well as considering the vehicle.
