Property insurance in Thailand
You should take out a cover note on the day you settle on the property. If you are building a home, you should ensure that they are covered from the day construction begins.
Replacement coverIndemnity policyUnlike car insurance, there is little that is standard about home insurance. Premiums can vary greatly depending upon the size of your home, its features and location, and the construction material. Do you have a security system, keyed locks on all windows and doors?
It is important that you check your policy carefully before an unexpected event occurs.
In many cases, the contents of a home are valued at 50% of the structure's replacement value, e.g. on a THB 4,000,000, contents could be as high as THB 2,000,000.
It is a good idea to keep receipts for major purchases and detailed inventory records for insurance purposes.
In order to cover your valuables against burglary and robbery, it is advisable to take out a 'Special Risks' policy. For this type of insurance coverage, you will need to provide a detailed list of all items to be included.
Check out the various ways to improve your home security.
Check whether your removalist offers 'in transit' insurance cover as part of their quote. If not, ask them to arrange it for you or take out a policy yourself.
