Home Insurance

[ettcuk]

TL;DR: Can anyone recommend an insurance company that might offer more than just basic coverage for flood damage in Mae Rim, which is a 'high risk' flood area? If not, I'm looking for general recommendations for house insurance.

My house is in Mae Rim, right on the border with San Sai. We haven't experienced any flooding in the three years we've been here and our neighbours tell us this area doesn't flood (as far as they know). But, based on the research I've done, some insurance companies will provide something like 200,000 THB flood coverage for the properties located just 200 metres away in San Sai, but since Mae Rim is considered a high risk area as a whole (no matter where you are in Mae Rim), we'd only get a basic coverage of up to 40,000 THB.

Can anyone recommend an insurance company that might offer more coverage for flood damage in our location or in Mae Rim? If not, I'm looking for general recommendations for house insurance. At the moment, we're leaning towards BKK Bank (which would also include 40,000 THB coverage for flood damage). 

[alfredwilliams]

Good luck, my wife just signed up for Earthquake coverage, we have experienced a couple of big tremors in recent weeks...

[scorecard]

36 minutes ago, alfredwilliams said:

Good luck, my wife just signed up for Earthquake coverage, we have experienced a couple of big tremors in recent weeks...

Is that with Bangkok Bank Insurance service?

[newbee2022]

On 6/13/2025 at 5:18 PM, ettcuk said:

TL;DR: Can anyone recommend an insurance company that might offer more than just basic coverage for flood damage in Mae Rim, which is a 'high risk' flood area? If not, I'm looking for general recommendations for house insurance.

My house is in Mae Rim, right on the border with San Sai. We haven't experienced any flooding in the three years we've been here and our neighbours tell us this area doesn't flood (as far as they know). But, based on the research I've done, some insurance companies will provide something like 200,000 THB flood coverage for the properties located just 200 metres away in San Sai, but since Mae Rim is considered a high risk area as a whole (no matter where you are in Mae Rim), we'd only get a basic coverage of up to 40,000 THB.

Can anyone recommend an insurance company that might offer more coverage for flood damage in our location or in Mae Rim? If not, I'm looking for general recommendations for house insurance. At the moment, we're leaning towards BKK Bank (which would also include 40,000 THB coverage for flood damage). 

I got an insurance with Global/Pattaya for our house in Chiang Mai. Ask for a quotation.

[Yellowtail]

What is your elevation? 

 

If you are significantly higher than the areas that flood, do not waste your money. 

[ettcuk]

21 minutes ago, Yellowtail said:

What is your elevation? 

 

If you are significantly higher than the areas that flood, do not waste your money. 

We're right in the middle of the valley. If we were higher up and away from potential mountain run off, I wouldn't be worried. But having insurance that covers earthquake damage, lightening strikes, fallen trees, burst pipes, and all manner of other things is also the goal.

[Hummin]

On 6/13/2025 at 5:18 PM, ettcuk said:

TL;DR: Can anyone recommend an insurance company that might offer more than just basic coverage for flood damage in Mae Rim, which is a 'high risk' flood area? If not, I'm looking for general recommendations for house insurance.

My house is in Mae Rim, right on the border with San Sai. We haven't experienced any flooding in the three years we've been here and our neighbours tell us this area doesn't flood (as far as they know). But, based on the research I've done, some insurance companies will provide something like 200,000 THB flood coverage for the properties located just 200 metres away in San Sai, but since Mae Rim is considered a high risk area as a whole (no matter where you are in Mae Rim), we'd only get a basic coverage of up to 40,000 THB.

Can anyone recommend an insurance company that might offer more coverage for flood damage in our location or in Mae Rim? If not, I'm looking for general recommendations for house insurance. At the moment, we're leaning towards BKK Bank (which would also include 40,000 THB coverage for flood damage). 

Unless you built a sorry to say ridiculous expensive mansion with expensive building techniques and materials, the insurance money is better used securing your property against flooding, and other incidents, as well values. 
 

At least my take on it. 

[Yellowtail]

Insurance companies are in the business of collecting premiums, not paying out claims. 

 

Buying flood insurance in a flood zone is not going to be cost effective. Better to move your valuables upstairs. 

[Packer]

Waste of money. 

 

Materials and labor is so cheap here. No reason to flush your money down the toilet. 

[topt]

On 6/13/2025 at 5:18 PM, ettcuk said:

some insurance companies will provide something like 200,000 THB flood coverage for the properties located just 200 metres away in San Sai, but since Mae Rim is considered a high risk area as a whole (no matter where you are in Mae Rim), we'd only get a basic coverage of up to 40,000 THB.

Things must have changed because after the big floods some years ago I was under the impression most companies either would not cover at all or very minimal amounts. My Tokio Marine Safety Insurance Policy has a flood limit of 1000 baht.......which is of course less than the deductable......so effectively not covered.

Earthquake is however covered.

 

6 hours ago, Packer said:

Waste of money. 

For you maybe. For others it could give peace of mind.

How many stories do we see about electrical faults and subsequent fires destroying dwellings.

 

I have also made a successful claim on my insurance for accidental damage with no issues.

On 6/13/2025 at 5:18 PM, ettcuk said:

If not, I'm looking for general recommendations for house insurance.

Find a good local broker and get them to do the work to offer options - you will then need to read the small print of the policies.

[Etaoin Shrdlu]

Until the floods of 2011 it was possible to insure a dwelling in Thailand for the full sum insured for the peril of flood. 

 

As a result of the flood claims in 2011, insurers introduced both sub-limits for the peril of flood as well as a premium surcharge. Typical sub-limits were ten percent or less of the total sum insured for the property.

 

A couple of years ago the insurer covering our house dropped the surcharge, but retained the sub-limit.

 

These changes were driven mostly by the cost and availability of offshore reinsurance coverage for flood. Because of this, it is unlikely that a local insurer is going to stick its neck out and provide flood coverage for the full value of the dwelling, even if the dwelling isn't in a flood zone. The local insurers just don't have the financial capacity to do so without reinsurance support.