House Inssurance Fire And Theft?

[sms747]

what are the best deals here to insure a house? mrs thinks it's 'bar' to insure the biggest thing you will ever invest in- I think it's a must.

[kamalabob2]

Home Owner's Insurance is easy to compare before you buy in Thailand. Any good licensed insurance broker can e-mail you copies of the coverage limits and policy terms of several reputable insurance companies for you to read in English PRIOR to purchasing. I noted a significant discount if I paid for 3 years in advance, and the discount was larger if I paid 5 years in advance. The Phuket based broker I use suggested I pay particular attention to "electrical damage" on policies I was considering. I used a free on line inventory program to make note of items in our home with costs and serial numbers. If your home is NOT wooden, it will be a very pleasant surprise to see the price quotes. I've made one claim in the three years I've been a home OWNER and that minor claim was more money (paid in a very prompt manner with no jerking around) than the three years total premium. Small electrical fire ruined a few electrical items but that added up fast and they paid for brand new items of the same value as destroyed. The broker had the claims adjuster come to our rural Issan home the Monday following a Sunday fire. The bi-lingual broker was important since the claims adjuster did not really speak or understand English. The policy also covers one non family staff such as a maid. I've seen in person how long it takes for a local fire department to respond to a real house fire and how fast a wooden house can burn. It is no wonder that sort of house costs significantly more to insure than a "brick" house.

[ripstanley]

I have posted on other threads re insurance. I went through Tesco Lotus. They insure through Chartis. For 4,500,000 insured for a concrete home the premium was 6,500. The same for a wooden home had a 17,000 premium. Read trough other threads on this forum. They may help

[meatboy]

first of all how much will it cost to rebuild the house,we insured ours for 4million bht.every year till this year when the ins.co.wanted a 1,000bht rise,the mrs checked around and found out that in the event of a rebuild they would only pay out the cost to rebuild 2.5million as the land cost us 1.5ml.so she took out new ins.with ayutthaya at 1,500 less than what we had been paying,so check your plans and cost of a rebuild and tell them in our case we had to provide proof.

[madmitch]

first of all how much will it cost to rebuild the house,we insured ours for 4million bht.every year till this year when the ins.co.wanted a 1,000bht rise,the mrs checked around and found out that in the event of a rebuild they would only pay out the cost to rebuild 2.5million as the land cost us 1.5ml.so she took out new ins.with ayutthaya at 1,500 less than what we had been paying,so check your plans and cost of a rebuild and tell them in our case we had to provide proof.

Absolutely right. No need to insure the land.

After comparing price and coverage with my broker I went with Bangkok Insurance. Not quite the cheapest but more coverage for your money.

[paddypower]

first of all how much will it cost to rebuild the house,we insured ours for 4million bht.every year till this year when the ins.co.wanted a 1,000bht rise,the mrs checked around and found out that in the event of a rebuild they would only pay out the cost to rebuild 2.5million as the land cost us 1.5ml.so she took out new ins.with ayutthaya at 1,500 less than what we had been paying,so check your plans and cost of a rebuild and tell them in our case we had to provide proof.

Absolutely right. No need to insure the land.

After comparing price and coverage with my broker I went with Bangkok Insurance. Not quite the cheapest but more coverage for your money.

My agent recommended this company to me as offering the most comprehensive coverage, esp. flooding and earthquake. I have a claim in dispute right now, which makes me think otherwise. Wind and Rain storms are covered perils. I spent 42,000+ baht on repairs to stuff water-damaged and wind damaged, due to a big storm. A 19,000+ baht settlement is being offered. I am fighting this one, as I have the training to interpret the wording of the policy. Insurance companies are in the business of collecting premiums and paying out as little as possible.