Property Damage Insurance
 It
is common for business owners to purchase insurance for physical
loss or damage to tangible assets. In Thailand, people are more
familiar with Fire Insurance than All Risks Insurance. However,
prudent insurance consultants normally suggest All Risks Insurance
to their customers. The standard policy normally covers loss
arising from fire including natural perils like flood, windstorm,
earthquake etc. The policy also covers loss or damage arising
from accidental damages. Due to its extensive covers, the policy
does not describe the perils covered but rather specify excluded
causes. Accordingly, it is generally interpreted that loss or
damage arising from perils not excluded will be covered.
Who Needs Cover
All individuals or companies who own assets.
When/How to Insure
At the time the ownership or responsibility of the assets be
transferred to an individual or a company, there are exposures
of unforeseen event that probably cause damage to such property
which could subsequently cause financial loss to such person
or company. Having insurance cover would help minimize the loss,
provided that the loss be arising from insurable perils and
the damaged property is covered under the policy.
For more information, please contact:
Khun Wasana Sombuthom
Tel. 01-825-7528 E-mail Wasana@aprc-consultants.com
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