Is this a potential scam?

[Bangkok Barry]

My wife received a call today from someone asking if we wanted to extend our house insurance, at a special offer price of 1800 baht instead of 5000. It is for 1,000,000 if there is a fire or 500,000 for flood or storm damage. We do not at present have house insurance, so the 'extend' part is suspicious, and nor has she asked anyone about insurance. So, in effect, it sounds like a cold call but my wife has no idea how they got her number and when she asked was told that her name and number had been passed to the person making the call. Someone will come tomorrow to collect the 1800 baht and will tell us at what time.

 

If this is a scam, as it seems to be, then my plan is to have a local policeman on hand - my brother-in-law is a member of the force.

 

Does anyone have experience of this?

[FritsSikkink]

So they come collect the money without sending you the actual policy rules. Looks very fishy to me.

Did they mention an insurance company name? 

Edited January 29, 2021 by FritsSikkink

[Matreusse]

Is that B1,800 per year or per month?

 

If it's genuine, you'll have to sign the insurer's application form and will be given an official receipt and a policy document detailing all the terms and conditions.

 

Make sure that you take a photo of the agent, his insurance company ID and his Thai ID

[topt]

On 1/29/2021 at 3:53 PM, Bangkok Barry said:

It is for 1,000,000 if there is a fire or 500,000 for flood or storm damage.

Even if a genuine insurance cover I strongly suggest you read the fine print before handing over any money. After the floods of 2011(?) most house insurance policies restricted cover specifically for flood damage - the policy I hold the cover was reduced to 1000 baht.........(and I was not flooded).

 

Did they not even tell you which company?

 

Also normally if you under-insure (IE house is worth 2m but only insured for 1) and same with contents you would only get 50% back for example. How much would it actually cost to rebuild your house?

 

Edit - just seen they were supposed to come today.......

[Bangkok Barry]

35 minutes ago, topt said:

Even if a genuine insurance cover I strongly suggest you read the fine print before handing over any money. After the floods of 2011(?) most house insurance policies restricted cover specifically for flood damage - the policy I hold the cover was reduced to 1000 baht.........(and I was not flooded).

 

Did they not even tell you which company?

 

Also normally if you under-insure (IE house is worth 2m but only insured for 1) and same with contents you would only get 50% back for example. How much would it actually cost to rebuild your house?

 

Edit - just seen they were supposed to come today.......

 

No-one showed up. My wife was going to demand how they obtained her name and number before agreeing to see anyone, but having had time to reflect there is no way we would buy anything from a cold caller of dubious origin.

[NanLaew]

On 1/30/2021 at 6:25 PM, Bangkok Barry said:

 

No-one showed up. My wife was going to demand how they obtained her name and number before agreeing to see anyone, but having had time to reflect there is no way we would buy anything from a cold caller of dubious origin.

 

So now we've got that nonsense out of the way, are you going to talk to a registered broker about getting some insurance for the house? I was more surprised that you didn't have any than I was about the cold call.

[impulse]

I get calls every week or so to extend the new car warranty (on my 21 year old Toyota van). 

 

How did they get my number?  Don't know.

 

Is it a scam?  Don't care.

 

[richard_smith237]

Contents insurance ?

 

The last time I looked at getting contents insurance it was prohibitively expensive...

(Watches, computers, ski gear etc.. .it all adds up)... 

 

The straw that broke the camels back - in every situation where something could get stollen (i.e. maid or house security etc, or robbed while wearing the item - diamond ring, or Rolex / Panera watch etc) we were not covered. 

 

I can’t remember the monthly premium but it was enough for me to baulk with an ‘absolutely no chance am I paying that !’ 

 

------

 

I’ll have to look again thought: 

Out of interest what are people paying?

- Contents Insurance - Fire and Theft (for any reason)

- Structural Damage insurance (to the house itself)

[kingdong]

Anyone or firms who adopt these sort of tactics.....don't,t touch them with a barge pole,do your own research and decide what you want to do in your own time

[kingdong]

If a deal sounds too good to be true it normally is no matter how well its giftwrapped.

[topt]

21 hours ago, richard_smith237 said:

I’ll have to look again thought: 

Out of interest what are people paying?

- Contents Insurance - Fire and Theft (for any reason)

- Structural Damage insurance (to the house itself)

Not sure how relevant this is as you are insuring for a family and I am not however someone may find it useful as a reference -

Just renewed.

Building - 3m

Contents - 1.2m with only 150k specified. (I have taken stuff off the separate specified list over the years as this is what bumped up the premium so for example there is now no gold jewellery included in this)

Total Premium under 9k baht a year.   

 

Main reason for carrying it on is peace of mind on the small chance of fire or some structural damage caused by a storm plus it is a condition in the usufruct agreement I have.

 

I also did not take up Sections on Personal Effects (away from the home), Personal Accident, Personal Liability and Workmen's compensation (cover for Domestic Help and Drivers). All of which are available in the policy I have for extra premiums........

[Matt AA]

Best to contact www.aainsure.net. As a broker AA can offer home insurance plans of many different companies so it is easy to compare.