Corporate, Commercial Insurance
Running a business is very rewarding and satisfying, but also challenging. Choosing the right insurance cover for the commercial insurance or corporate insurance is one of the responsibilities a company owner must face. A licensed, qualified Insurance Broker, such as us, who is reputable and experienced, will compare different insurance covers and help business owners in Thailand to evaluate and decide which insurance cover is needed for their specific kind of business. It is essential for your business to compare different insurance offers, especially here in Thailand.
Examples of these kind of insurances are: Commercial / Corporate Property All Risk Insurance policies, Building, Content, Burglary, Equipment, Public Liability, Workmen Compensation, Marina, Machinery and Accident and Medical Insurance for all your staff.
When you step onto a golf course you are entering an arena where multiple projectiles are repeatedly being fired in all directions. You then proceed to fire projectiles, probably in multiple directions, with several people, houses, and cars in the near vicinity. You will do this for a period of four hours before retiring to the clubhouse for a drink, leaving thousands of dollars of equipment sitting, unlocked, by the back door.
It would be reckless to undertake such activity without suitable insurance, yet most golfers are not sufficiently covered against damage, accident, or injury when they take to the fairways. We golfers like to think we are special, but I am afraid, like it or not, we too need to be insured.
Society is becoming more litigious, as extensive advertising confirms and perpetuates. People are increasingly aware of the possibility of seeking compensation through Court and a growing number follow that route. The most compelling reason for taking out specific golf insurance is against personal liability.
Health and Medical
The expatriate living or working abroad is often faced with many challenges. Not least the language, the climate, and the cultural differences in general. One of the main concerns is gaining access to quality medical facilities should illness or injury strike the individual or members of their family.
It is important to remember that insurance is there for the unexpected. Medical Insurance primarily covers the costs of medical treatment for what is commonly known as an acute condition, a disease, illness, or injury that is likely to respond quickly to treatment. Choosing the right Healthcare Policy is very important. A wide selection of plans is available, and many variations exist. Cover for individuals, couples, families, and companies can be obtained and added value benefits and optional extras can be arranged. The language and policy conditions and general exclusions can often be confusing and as Healthcare consultants we have experience comparing plans and advising on the best plans for your needs. We believe in quality over quantity and therefore only select the best expatriate health insurance providers. To make sure you are getting the right cover there are several guidelines to follow and we have key criteria to assess an insurance plan. The importance of each will vary from person to person. In assessing a healthcare policy, we not only consider the plan coverage but also the insurers financial standing, claim handling and customer service.
Fewer things in life are riskier than setting up your own business, why increase the risk of failure by not having adequate insurance to protect your business. Liability insurance is designed to cover you if you are pursued for compensation by a third party, where they feel that they have suffered a loss because of your negligence (lack of care). If you are successfully sued by a third party your liability insurance will be able to pick up the costs for the compensation that has been awarded against you and any legal costs that you have occurred because of defending your claim. If you do not have adequate insurance then you will be liable to pay the cost for the compensation.
If someone is injured while visiting your home, they could sue you for damages. If they win and a court awards them a big settlement, you could be financially ruined. Your wages could be garnished, and you could have a hard time getting back on solid ground. Property insurance safeguards against this kind of liability.
Your home insurance will also protect you against liability for accidental damage to someone else’s property. For example, if you live in an apartment building and your bathtub overflows, resulting in damage to your neighbor’s apartment, your home insurance will pay for repairs or replacement.
Motor (Car & Motorbike) Insurance
In Thailand, a minimal cover is required to legally drive a car or a motorbike, these are called CTPL (Compulsory Third Party Liability). The law does not require that you acquire car insurance to cover all damages to your car or motorbike, however if you have a newer vehicle, you will want to protect your investment and consider purchasing Comprehensive coverage.
Third Party insurance, here in Thailand it is called 3rd class insurance. The policy covers personal injury and damage, and provides a bail bond, in the event of arrest as described in the previous edition. The only limits are the insured cannot be under the influence of alcohol or drugs or driving without a driving license.
Third Party Fire and Theft insurance, called here 2nd class insurance, is the same as described above, but includes coverage for your own vehicle against fire and theft. However, the majority opt for comprehensive insurance as the premiums are not a great deal more.
If a sudden situation, like a fire, does arise, your home and garage will likely need to be renovated. You will be reimbursed for the value of items, such as furniture, electronic equipment, and computers—or the items themselves will be replaced. If you cannot live in your home while it is being renovated after a loss, your house insurance will pay for some of your extra living expenses, such as accommodations.
If you rent your home, you may think you do not need to bother with property insurance. Unless your landlord is directly responsible for the damage to your belongings or unit improvements such as a new carpet or built-in shelving in the closets that you paid for, his insurance likely will not reimburse you. It also will not protect you if you are sued for negligence.
Although it is not compulsory, it is logical to protect your property against natural hazards and obviously things like burglary.
Temporary travel insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip, or a "multi-trip" policy can cover an unlimited number of trips within a set time frame. Coverage varies and can be purchased to include higher risk items such as "extreme sports".
Medical Expenses coverage can be Per Occurrence or Maximum Limit.