Insurance companies in Thailand offer cover to both individuals and corporate clients. If you are interested in buying an insurance policy, you need to take several things into account. If you live in a big city such as Bangkok, the amount of options available to you are quite high, so there’s no need to hurry. However, most people end up making silly mistakes that cost them a significant amount of money when calculating the monthly premium. There are many things that you need to consider before buying an insurance product.
- Shop Around Various Companies
There are plenty of companies that offer insurance products in Bangkok. Instead of sticking with just one, it might be a wise idea to shop around. There are numerous companies that offer a wide range of products, both basic and custom policies. If you are not sure about what you are buying, it might be a wise idea to do some research first and foremost. It’s recommended that you look at multiple options and ask for quotes from several companies before you make a decision.
- Talk to an Insurance Agent
More importantly, you should consider getting in touch with an insurance agent, as they will be able to give you a better idea about which insurance policy is best suited to your needs. Insurance agents work on behalf of their clients and charge a small commission for every sale they make, so your agent will help you compare between different options and select the one that best suits your needs.
- Find Out What the Policy Doesn’t Cover
More importantly, you will want to know exactly what kind of coverage you are buying. While most insurance salespeople are going to give you a comprehensive understanding of their insurance products, they will usually leave out details of aspects that are not covered by the policy. That is where you need to press in. You should ask them exactly what the policy doesn’t cover so that you have a better idea about what you are getting, and what the insurance is not going to cover.
- Evaluate the Premium
The premium is the amount that you will have to pay every year to the insurance company for as long as the policy is active. The insurance premium varies based on the amount of risk that the company is undertaking by granting you insurance cover. That is one of the reasons why you need to evaluate the premium carefully by asking for quotes from several companies first.
- Avoid Deferring Payments
Deferred payments are a bad idea, and could increase the insurance premium. In fact, if you have no intention of continuing with the policy, you should consider calling the insurance company and just letting the company know. This is important, otherwise they are just going to levy a charge against you. These are just some of the important things that you should remember before you decide to buy an insurance policy.