Health insurance abroad is essential for any expat. In addition to expat healthcare insurance rates, insurance providers or online insurance comparison sites can provide life assurance quotes and auto insurance rates to provide you with overseas coverage. However, remember that cheap insurance may not represent the best value for money if you need to make a claim - as an expat you may require specialist expatriate insurance cover abroad.

It is estimated that around 10% of people in Thailand have opted for private medical insurance and many expats require it if they are not covered by the social security scheme which provides free healthcare, however, large numbers of Thai nationals are now opting for a private healthcare policy. It is often the case in Thailand that healthcare policies are sold with other types of insurance attached such as accident cover and life insurance. Thailand has a large number of private hospitals and these are favoured by expats. It depends on the insurer as to whether or not you will be expected to pay for care up front. Some hospitals will deal directly with the insurance company but others will expect you to pay and claim it back from the insurance later.

Life Insurance in Thailand will depend a great deal on the company that you purchase it from. Expats are able to purchase life insurance in Thailand although some companies will insist on you having the right visa and a work permit before they consider you for a policy while others do not check so thoroughly. There are different types of life insurance policy including whole life, where you pay premiums for as long as you want the policy and a policy that will cover you for mortgage repayments but which will only last for the same period of time as the mortgage. Life insurance can be purchased at a very reasonable price in Thailand, so it is worth shopping around and getting quotes from several companies before settling on a policy.

Home insurance policies vary a lot in Thailand. There are comprehensive policies which will cover the house against damage from a number of sources such as fires, earthquakes, monsoon damage and thefts as well as covering the homeowner for accidental damage, limited loss of personal possessions outside the home and personal accident cover. A policy can also cover the main structure of the buildings, compensation if needed for domestic staff and any legal liabilities. The most common type of property purchased by expats is the condo and some companies offer a policy specifically for these. Condo policies will cover your own apartment but not the structure of the building. It is the responsibility of the building owner to arrange this and it is illegal for them not to do so.

When purchasing car insurance in Thailand you should be aware that you need to have a basic third party policy which is compulsory for all vehicles. Those who are caught driving without the basic compulsory policy can be prosecuted and fined. In Thailand the insurance is on the car, so no matter who drives it they have cover. If you name the drivers that will be using the car you can reduce the premium on the policy. The basic policy covers accident victims but will not cover any damage to the car. If you opt for a class 1 voluntary insurance policy then you do not need the basic compulsory policy as it covers the same things and more. A class 1 voluntary policy is the same as a comprehensive policy in the UK. Class 2 will pay out to a third party if you are to blame for the accident or will cover you for theft or fire damage to the vehicle. There are two types of class 3 policy which are third party cover with only limited cover for yourself.

Professional liability insurance is available from many insurance companies and is ideally for those who are self employed or who run their own company. This covers you for any damage or problems with clients and customers and can help you to avoid a big payout in the event that a claim is made against you. This could be for accidental damage or personal injury. If you have a business that employs other people the insurance should cover them too. Rates for these policies will vary according to the type of business that you are in and the level of cover that you want.

Useful Resources

NZI Thailand
www.nzi.co.th
Tel: + 66 2207 0266-85

AXA Thailand
www.axa.co.th
Tel: + 66 2679 7600
Email: axathai@axa-insurance.co.th

ING Thailand
www.inglife.co.th
Tel: +66 2632 6000
Email: inquire@inglife.co.th