I've looked in the insurance forum but most of it is about travel or health.

 

It's time to renew my house insurance and I have quotes from Axa (current insurer)  MSIG and Safety Insurance Public Company. The quotes are wildly different in cover.

 

Anyone have any experience of any of these companies.

 

Also I am trying to get them to clarify if my insurance buildings cover is sufficient. Anyone have any idea of the cost per square meter insurance companies use (Nakhon Ratchasima). I have 150 square meters of habitable floor space. There is an additional 40 square meters of 2 car ports (which comprises 4 posts and a metal roof for each one)  which I do not want to insure at the rate for rebuilding a whole house!

 

Any pointers guidance appreciated.

 

 

Our home is insured with MSIG, i think they are a first class company.

5 days after the policy started we had storm damage to the roof.

I submitted a claim, and photos, claim paid in full, they accepted my word and photos, nobody came to see the damage, just sent us a cheque.

You will find its horses for courses and like the health and travel insurance you pay for what you dont get!

 

My house..buildings insurance only (i have no contents of any value) was a stipulation of our mortgage bank because we built onto our existing timber house.

Like you we have around 140m2 of risk floor area and we were quoted about 17k baht via the bank FOR THE NEXT 5 YEARS.

 

We shopped around, and used someone else for 13k baht for 5 years. its nothing is it....2k/3k a year.

our biggest risk of course is fire; floods do damage of course but never to the extent of a fire so we think we are paying more than everyone else!

 

Why 5 years? well not sure, maybe Thais are a bit slack at keeping up to annual premiums; but 5 years is a good thing isnt it?

 

Sorry eye catcher I don't understand " 13k baht for 5 years." that's a premium or a rebuilding cost?

 

If it's a premium who with?

 

I really don't worry too much about contents as every window has bars but no insurance company will give me any reduction for that. I also have an alarm.

Am I correct in saying that you had to have your house built by a registered builder 

NO

 

5 yes 5  "local builders"

3 hours ago, Negita43 said:

Sorry eye catcher I don't understand " 13k baht for 5 years." that's a premium or a rebuilding cost?

 

If it's a premium who with?

 

I really don't worry too much about contents as every window has bars but no insurance company will give me any reduction for that. I also have an alarm.

Yes thats the premium for a total of 5 years...dont  pay again for years.

I need to dig out the company but they were approvef by the bank as meeting their criteria

I have paid for 5 year home owners premium and with a different company 3 years was the maximum.  You can add, for a modest fee, extra cover for electrical surge damage with some companies. My insurance broker in Phuket was very helpful as he sent English versions of the cover limits to me via email.