Building insurance

Legal issues related to buying land, houses, condos in the LOS. Anything about contracts. Finance related, such as getting a mortgage, buying property from the bank, etc.

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Sunpax
Posts: 768
Joined: Fri May 28, 2010 10:26 am

Building insurance

Post by Sunpax »

How can I Insure the all build process for my house ? if something happen ! does is existe here in Thailand some kind of insurance ?

Thanck you
pattayapope
Posts: 1132
Joined: Tue May 12, 2009 12:54 pm
Location: Huai Yai Chonburi

Re: Building insurance

Post by pattayapope »

Sunpax, I don't think you can insure during the build but after completing it is a simple matter to get insurance on the property. Secrete is don't pay builder too much in advance and keep enough back so he completes to your satisfaction.
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Etchingham
Posts: 1
Joined: Tue Jun 28, 2011 4:14 pm
Location: United States

Re: Building insurance

Post by Etchingham »

<off topic post removed ... not applicable to Thailand>
Shastadad
Posts: 413
Joined: Wed Mar 31, 2010 12:02 pm

Re: Building insurance

Post by Shastadad »

Etchingham are your referring to the US or here in Thailand ?
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Sunpax
Posts: 768
Joined: Fri May 28, 2010 10:26 am

Re: Building insurance

Post by Sunpax »

I meet some Thai people last time when I was dinner at a nice beach restaurant...and the owner of the place ask me at wich stage was my house construction and say I must take a building insurance and that's what his husband do !...she mean insurance for the building process...well I had no time to go there ....but i will go next week to speak with her again and take some more precise informations !
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sirineou
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Joined: Wed Jun 03, 2009 9:30 am
Location: USA/Thailand, khon Kaen

Re: Building insurance

Post by sirineou »

any one gen get insurance to insure, anything, The question is , The risk factor the insurance assigns on your insurance contract, that will determine the premiums that you will have to pay.
In Thailand where there is a spectrum of building standards code enforcement, that varies from non existent to barely adequate, I believe it would be virtually impossible to determine with any degree of certainty the risk factor,
Thus if any such insurance exists, It would either have a very high premium, or very difficult claim requirements.
As it was mentioned by other, your best building insurance is to withhold payment until a project has being completed to your satisfactions, as agreed in your contract.
I talk to my self because I am the only one who will listen
nick41
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Joined: Mon Apr 30, 2012 8:52 pm
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Re: Building insurance

Post by nick41 »

pattayapope wrote:Sunpax, I don't think you can insure during the build but after completing it is a simple matter to get insurance on the property. Secrete is don't pay builder too much in advance and keep enough back so he completes to your satisfaction.
Yeah that sounds about right.
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