Insurance for new house

Post by **tudorandpim** » March 11, 2014, 8:43 pm

We're completing on purchase of a new build house in a few weeks and would like to insure it straight away. Preliminary research confirms what I expected, that it's all very different in Thailand and I'm on a steep learning curve. Does anyone have direct, recent experience and can give a few pointers where to start?

The Mia's attempts to translate Thai websites, well intentioned though they are, seem to be generating more heat than light so I need to back off with her and sort it out myself. An English speaking broker in Udon would be great but I can't find one. Briefly what I need is catastrophe cover for the house catching fire, blowing up, falling down, lightning strike, storm damage or a direct hit by from falling jet or meteorite. I'm not bothered about the lesser risks and I already know flood cover is not an option. It seems this is called 'All Risks Home Insurance'. How they calculate the sum insured is a mystery to me and I'm baffled.

It's a cash buy so there's no loan on it. The other snag is that it will be unoccupied probably half of the year. It's the usual new build construction with concrete and tile roof on a one street development of 14 houses. Any advice would be greatly appreciated.

Post by **retired** » March 11, 2014, 9:02 pm

Contact SQUIRES Consultants (Roong) 0818729791 Speaks English.

Post by **Perra** » March 11, 2014, 9:03 pm

I recomend to contact Peter at AA INSURANCE BROKERS CO., LTD. [email protected]

Post by **joepai** » March 12, 2014, 10:47 am

Second that, AA Ins brokers are very good - speak English and local !

Post by **Galee** » March 12, 2014, 10:59 am

I've recently arranged my house and contents insurance through Roong at Squires.
Insured with AIG. Premium under 7K.

Post by **parrot** » March 12, 2014, 11:01 am

We've used MSIG in Bangkok for 10+ years for house, contents, and recently for worker compensation. All policies in English. Reasonable rates. Had one claim with them and completed the entire claim via email.
MSIG has an office in Udon, but last we went there (a long time ago), the agents were unable to provide the documents in English......so we bailed and did business with Bangkok. Same story for Viriyah for our vehicle insurance. Maybe things have gotten better in Udon.

Post by **tudorandpim** » March 12, 2014, 6:36 pm

Galee wrote:I've recently arranged my house and contents insurance through Roong at Squires.
Insured with AIG. Premium under 7K.

Thanks for the info everyone. That's 3 contacts to make a start.
That premium of 7K is presumably based on a rebuild cost. Any idea how they calculate that? My understanding is that it can be much more than the purchase cost of the new house as it costs more to build a single house than a development with economies of scale etc.

Post by **Galee** » March 12, 2014, 7:27 pm

My house is a single build so development build prices do not apply. Roong and her associate came and took photos, which they provided to the insurer to calculate the premium.

Post by **bamboozle** » March 15, 2014, 3:34 pm

I've had AA for 3 years now. Never had a problem but never had to claim so far. Doing business in English didn't present a problem.