Home insurance policy against natural disasters

Siam Commercial Bank, in cooperation with Deves Insurance Plc, is introducing a new insurance policy to protect its housing loan clients against a wide range of natural disasters.

It is claimed to be the first blanket insurance policy against natural disasters. The policy, designed in the aftermath of the disastrous floods, is now available for old and new home buyers.

The range of such natural disasters covers floods, tsunamis, storms, storm surge, earthquakes, hailstorm and volconic eruption.

Siam Commercial Bank Executive Vice President Smith Banomyong said that new clients can seek maximum coverage upto Bt50 million. The insurance premiums will range 6-9 per cent of the coverage.