house insurance?

[zeekgarcia]

Trying to find information on insurance for a house in case of fire, flood, storm damage, etc

[metisdead]

Moving to the Insurance in Thailand forum, hopefully there will be some answers found there. 

[zeekgarcia]

8 minutes ago, metisdead said:

Moving to the Insurance in Thailand forum, hopefully there will be some answers found there. 

thanks

[kickstart]

We have a policy with the Bangkok Insurance Company, our local AIA rep found the policy for us, the wife has been panicking for some time about a strong wind ripping our roof off like she sees on the TV often, so I took out a policy.

Believe it or not, we pay every 3 years, do not ask me why, 3500 baht, for 1 million baht cover, wife reading the small print, it covers most things, but not that big tree next to the house, if it falls down on to the house.

We live in a rural area, not in a town/city.

We had to replace a few roofing sheets last year, only 500 baht, to my surprise they paid up without any problems.  

[topt]

I have a policy through AA Insurance Brokers with Safety Life for buildings and contents that seems reasonable - nowhere near as cheap as the poster above however.

 

Also be aware that you may find it very difficult to get insurance for flood damage unless that is caused by "windstorm" and/or will be very limited in amount.

 

Just ask a broker for a couple of options giving them the rebuild value and cost of replacing contents. For contents check that they are offering new for old cover.

[David B in Thailand]

I have had home owners insurance policies with Bangkok Insurance and with Safety Insurance. For the past five years I have had a home owners policy called "Property Insurance AZTH My Luxury Home" with Allianz Insurance. Yes 3 year policy or even some companies offer a 5 year policy for home owners insurance in Thailand. I've made claims with no run around with both Safety and Allianz. The broker I use in Phuket is very aware of policy items to consider. 

https://www.allianz.co.th/en_TH/personal-insurance/home-property.html

[manchega]

incredible.  I was told not possible

 

I convinced the engineers from the company who built the housing estate to speak while being filmed.

They stated our house is not suffering from subsidence, has no other issues - structurally sound, pretty sure their company would not be happy with this -

 

cracks are back, I am sure it is something structurally wrong but Thai's all beleive this is normal shoddy workmanship and you live with it????

now I know people get ouse insurance will make sure this engineer structural integrity gets me some good insurance - or at least find appropriate scape goat.

[topt]

1 hour ago, manchega said:

incredible.  I was told not possible

What were you told is not possible?

 

If you are looking for a new house insurance policy to cover cracks in plaster or other possible poor workmanship then I think you are out of luck.

Subsidence and or "normal" settlement are not covered in mine and nor is cracking unless caused by another insured "peril". Foundations are also not covered - also seen in the Allianz policy referenced above.

[YorkshireTyke]

Just browsed this forum as my buildings insurance is up for renewal for it's third year and I wondered how many people insure their property here.

My policy is with MSIG and covers 2.6 mill for the building excl foundations , 400k for swimming pool and 600k for furniture and fittings.

 

Policy is around 5,200 Baht which I guess is not excessive with my main concern being a fire starting accidentally .

 

I've just asked for another quote without the pool as I can't see any instances where the pool will need to be rebuilt from scratch.

 

Any comments anyone?

[BritManToo]

I never bother beyond the compulsory mortgage requirement.

No fire insurance the house is concrete and steel, nothing much to burn.

[YorkshireTyke]

1 hour ago, BritManToo said:

I never bother beyond the compulsory mortgage requirement.

No fire insurance the house is concrete and steel, nothing much to burn.

All furniture, bedding, curtains, clothes, TV's, laptops, AC units, kids toys, window frames and windows, doors, skirting boards, kitchen cabinets, kitchen appliances, cost of re decorating etc..........

 

Isn't all that worth paying 5k per year ?

[madmen]

2 minutes ago, YorkshireTyke said:

All furniture, bedding, curtains, clothes, TV's, laptops, AC units, kids toys, window frames and windows, doors, skirting boards, kitchen cabinets, kitchen appliances, cost of re decorating etc..........

 

Isn't all that worth paying 5k per year ?

buy a fire extinguisher. Chances of your house spontaneously com busting while your down at the pub are zero. If your surrounded by dense bush and there is history of bush fires in your area then thats another matter

[topt]

2 hours ago, YorkshireTyke said:

All furniture, bedding, curtains, clothes, TV's, laptops, AC units, kids toys, window frames and windows, doors, skirting boards, kitchen cabinets, kitchen appliances, cost of re decorating etc..........

 

Isn't all that worth paying 5k per year ?

Yes if presumably it covers theft (as long as sign of forced entry), water damage from storm or pipes and lightning damage as well?

 

Interestingly my buildings cover specifically excludes a swimming pool..........

[YorkshireTyke]

2 hours ago, topt said:

Yes if presumably it covers theft (as long as sign of forced entry), water damage from storm or pipes and lightning damage as well?

 

Interestingly my buildings cover specifically excludes a swimming pool..........

Queried whether I need cover for the pool so reduced the cover and the premium accordingly.

 

No, not covered for theft and I don't think anyone will back up a truck and load up my furniture.

[SimpleMan555]

On 3/19/2019 at 12:52 PM, madmen said:

buy a fire extinguisher. Chances of your house spontaneously com busting while your down at the pub are zero. If your surrounded by dense bush and there is history of bush fires in your area then thats another matter

The changes of a having a small electrical fire that then ignites curtains, plastics etc is a serious risk here in Thailand. While a fire extinguisher(s) is always a good idea, the smoke damage from even small fires such as burning plastics, nylon/polyester fabrics and similar can ruin many other items in a home as the smoke smell and staining is almost impossible to remove.

 

It seems to me, the peace of mind gained from these low-cost policies is worth the price for those who want this leave of security ????

Cheers!

[Caseinus]

I moved from Thailand to US and if you just need information about insurances go on https://homeownersinsurancecover.net/maryland/ , you'll find there all you need about different insurance companies and insurance policies. It might be useful even if you're not from the US. There I found a company that insures my house for many possible damages. A universal advice that I can give you is to not go on cheap insurances because in this case you get what you pay for. And don't accept the first offer that they make to you. What I mean is that you shouldn't stick with the first company that you find. Take the time to search and you'll find a better offer.

[Stocky]

We've building insurance with Syn Mun Kong, 3 year policy, last renewal was about Bht12,000.

[stament]

On 8/7/2019 at 7:06 AM, Stocky said:

We've building insurance with Syn Mun Kong, 3 year policy, last renewal was about Bht12,000.

Never come across policies>1 year.

 

Presumably they discount I'd multiple years purchased....?

[Stocky]

4 hours ago, stament said:

Never come across policies>1 year.

 

Presumably they discount I'd multiple years purchased....?

It was offered as a 3 yr policy, I didn't ask if there was a 1 yr policy as 3 years was fine with us. Contents insurance was 1 yr but building insurance 3 yr.