Depends on the local transport office, mine wouldn't accept my yellow book, but wanted my wife's blue book, although the car was in my name, best you check with your local office.
you get a 90 day visa in your home country, and then extend it for 12 months when your in Thailand, no going out the country, however you have to keep 800kthb in your bank for 2 months before the ext and 3 months after, there after you must maintain 400kthb. No insurance needed