So you don't have a 90 day Non-O which means if you want an Extension you will need new insurance. People prefer the Non-O as there is no mandatory Thai insurance requirement.
Yes, when you have less than 30 days of your 90 left and your 800k banked money has seasoned for 2 months you can apply for your first 12 month extension (or you may be able to use an income affidavit from your Embassy if they still issue them). Go to your Immigration Office before hand to get THEIR list of requirements for this extension and away you go. You will need a re-entry permit, 1000B for single or 3800B for multiple, get it when your 12 months have been inked in.