Wow, that's a big question! Luckily for you Thailand is the WorldNomads.com destination of the month in December, so we'll have a heap of travel safety information for you.... and I'll give you a sneak preview (follow the links below).
Your travel insurance is invaluable if you get into trouble - but it's not a licence to be reckless. The best way to approach travel safety is to act as though you are NOT insured, ie what would you do if you had to look after yourself and pay for all eventualities?
Millions of people visit Thailand each year and the vast majority return home without any more trouble than having paid too much for a Tuk Tuk ride - but it's best to be prepared. So have a read of these safety tips (and other stuff on WorldNomads.com - journals are really valuable sources of information). Good luck, you'll have a great time.
http://journals.worldnomads.com/safetyhub/story/66539/Thailand/Is-Thailand-Safe-to-Visit almost 10 years ago