Protecting your home with insurance in Thailand
Home and contents insurance is something that we take for granted in our countries but sadly it is something that is often overlooked here in Thailand. The reasons for this are often unclear, but arguably insurance in Thailand is required just as much, if not more so, than back in our home countries. Some older properties have substandard wiring or plumbing that could cause significant damage to your property should the worst happen. Sadly, the chances of this happening in Thai properties is far greater than that back home as they probably don’t meet western standards. Unfortunately, crime such as burglary is also more prevalent in some but by no means all areas.
Home and contents cover is usually provided by one of the local insurers such as AXA or QBE with the aid of a broker. If you live in a condominium the building (the structure at least) will be covered by the condominiums insurance in Thailand, however internally things such as plumbing and electrics will not be covered. Obviously you will need to insure your own personal contents and it is also highly recommended that you have public liability insurance in case anyone gets injured on your property in Thailand.
With regards to the contents insurance it is often quite frightening how often people undervalue their possessions in terms of monetary value. Most contents have been accumulated over a number of years so often people are aware of what they actually have. It is worth going round and calculating the value of what things would cost to replace i.e. new for old before submitting the application. For many items such as phones and computer, photographs will need to be supplied along with the application for proof of their existence. Remember these checks like this these are an attempt to keep premiums down and reduce the number of fraudulent claims.
If you do need to make a claim you are certainly advised to contact the insurance company direct rather than go through your broker. This will save a lot of time as you will be able to answer many of the questions better than anyone else. You will need to quote your policy number and the full address of the property when you contact the insurer. Most insurers will speak English so this shouldn’t be a stumbling block and generally they are quite efficient. For larger claims a loss adjustor maybe required to visit.
For more details speak to one of our team.