Life And Condo Insurance Assistance Needed....

[richard_smith237]

I’m looking for the following insurance.

Life Insurance: Approximately 20,000,000 B payout to my wife in the event of my death.

Condo Insurance: Coverage of 4,000,000 B belongings cover. Full payout in the event of total damage due to fire or flood. 100% cover for itemised claims in the event of theft or damage.

I’ve looked at the Thai Visa Insurance (Forum Sponsor) and requested a quote.

i.e. if my safe gets broken into and my 400,000B watch gets stolen, I want 400,000B from the insurance to replace it, not just 10% of the value.

I was wondering, what everyone else on the forum does for insurance, what levels are you and your condo / home insured to, what amounts are recoverable and what are your premiums?

Any recommendations other than the sponsor whom I have already contacted?

Thanks for your assistance….

[Rooo]

Some posts have been removed,Spam is against TV rules.

If someone wishes to communicate contact details, please do so via PM.

[richard_smith237]

Shameless Bump !

No reply from TV insurance yet, either to this request for information or my direct e-mail...

[kamalabob2]

Richard_smith237 you might want to read the English version of the proposed Condo Insurance Policy. The following is part of a letter from my Insurance broker

A list of items that are not covered is the same for all insurance companies; it is a list put out by the Office of Insurance Commission that controls all insurance companies:

1. Cash money, Cheques, coins, bonds, securities, accounting books.

2. Credit cards, Bank cards.

3. Gold bullion, ornamental gold or precious metals and precious stones.

4. Bonds, Certificates, Title deeds.

5. Important documents, contracts, obligations, stamps, duty stamps.

6. Manuscripts, plans, drawings, designs, patterns, moulds or models.

7. Goods held in trust or on commission.

8. Any antique or works of art.

9. Personal effects, watches, glasses, jewelry, Palm/Pocket PCs.

10. Explosives.

11. Notebook computers, cameras, video cameras (With some insurance companies, this is the only category that you can purchase additional cover against burglary).

So in light of the above you might read the policy conditions before thinking you'll have a new watch. A bank safety box is around 650 baht a year in our town and a safe place for land papers and jewelry.

[BSJ]

Hi kamalabob2, even thought they are not included in Condo insurance, I am sure they can be insured seperately.....except for explosives.

Not to sure, but the other condo owners may get a bit irate if your regularly storing Dynamite in your condo!

[hhgz]

You mentioned "condo insurance"...all condominiums have insurance policies, and it would behoove you to check with the condo management company regarding them. Too, the coverage will probably be different if you're a renter, rather than the owner.

[Mercury]

Insure your life outside Thailand. Insure your $10,000 watch via a specialist policy, outside Thailand.

[scorecard]

Yes all condo buildings are required by law to have a policy on the main building.

We have a separate contents policy for our contents and I'm aware that most other owners in our condo also have a separate contents policy.

I just called our registered juristic person (who is a lawyer, and he's made himself quite conversant with the appropriate laws and regulations) and asked him whether there can be:

1. One overall policy covering both the main structure and the contents of all the actual / individual units?

2. One overall policy covering contents only, but covering all the units in the building?

He quickly checked the regulations and said 'NO, cannot be one policy'.

--------

Changing the subject, about three years ago there was a fire in a unit on the next floor down, which caused us quite a bit of smoke damage.

Our contents insurance company was a high profile British insurance company and we went through a nightmare with them. Their tardiness and severe lack of cooperation was just disgraceful. They tried to simply ignore us and/or come up with so much documenttaion that it was just impossible to complete the papers.

All our clothes (four adults and one child) and all bedding were full of smoke. Their representative insisted that we get three quotations with absolute full details of every item listed, then said it would take 30 days to get one of the quotations approved and of course no guarantee of any approval. We had to complete all of these lists twice because the first document we prepared was 'not beautiful'. They did not approve because they considered that this was a'personal problem' and outside of the policy.

Also at one stage they wanted a document which detailed the exact measurments and a full description of every item in every cupboard, in every room in the condo (2 bedrooms, living room, 2 bathrooms, dining room, and full kitchen. Right down to brand names on spoons, forks, and we had to come up with proof that the list had been prepared before the fire, which of course was impossible.

After two months of bullshit, I eventually called the HO in UK to complain. First call resulted in no action. Second call, on indicating that I would write to the newspapers in Thailand and in UK and write to a national association of insurance companies (in UK) generated some quick and focused cooperation.

In fact I've since changed to a different company, not sure whether we might encounter the same problems, but of course hoping that we will never have to claim.

I suggest to any members that you check, as far as you can, the reputation and past record, in terms of processing claims, of the insurance company before you sign.

[Mercury]

Always deal with people who have something to lose from negative publicity and being sued.

[clinique]

Insure your life outside Thailand. Insure your $10,000 watch via a specialist policy, outside Thailand.

No need, I have ally stuff insured by a big insurer here in Thailand, partly owned by a big mob from the US (!!) they do everything with 100% cover.

[clinique]

You mentioned "condo insurance"...all condominiums have insurance policies, and it would behoove you to check with the condo management company regarding them. Too, the coverage will probably be different if you're a renter, rather than the owner.

that only applies to the condo buildng and common areas, anything inside your own condo walls you must insure seperately.