Do you have insurance?

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Kammekor
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Re: Do you have insurance?

Post by Kammekor » Sat Nov 10, 2018 5:27 am

Barang chgout wrote:
Wed Nov 07, 2018 5:36 pm
Kammekor wrote:
newkidontheblock wrote:
Wed Nov 07, 2018 5:57 am
Kammekor wrote:The house wins for the group of insured people as a whole, and they lose on the unlucky individuals contacting a serious disease.

But as long as you're not one the unlucky persons you're right.
If the house loses and goes broke, no more coverage for anyone.

Of course it’s an odds game. But gambling with you’re life. If one has a nest egg worth more than the coverage in the policy (and if the policy only pays out once), then it’s worth not having insurance. Otherwise insurance pays for coverage of conditions that can either occur multiple times or multiple conditions.

However if you are only abroad for a short period of time, have enough to cover a catastrophic condition and can cover airlift back, then insurance might not be a bargain.
Some worry about the insurance companies making too much profit, others worry about them going broke....
Maybe I'll just buy some gold and hide it under my pillow nd use when shit hits the fan.
Or you could invest.
Say in Australian banks,deemed safe.
Will you win?
Does this make insurance a good idea?
Dunno, just asking for opinions.

Sent from my SM-G570Y using Tapatalk
I do have medical insurance, but with a relatively high deductible because I have some savings. I have a young kid to take care of and the idea to ask friends, family (or worse... strangers through GoFundMe) for money when one of us gets really sick turns me off so much I happily pay the premium every year. My independence from family means a lot to me. So does peace of mind.
explorer
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Re: Do you have insurance?

Post by explorer » Sat Nov 10, 2018 6:38 am

Kammekor wrote:
Wed Nov 07, 2018 4:32 pm
Some worry about the insurance companies making too much profit, others worry about them going broke....
Maybe I'll just buy some gold and hide it under my pillow nd use when shit hits the fan.
Thats what Cambodians have done in the past. Gold has been used as a currency, to buy and sell.

There is a lot of gold buried in Cambodia. People buried it during the war, and a lot of them were killed.
## I thought I knew all the answers, but they changed all the questions. ##
explorer
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Re: Do you have insurance?

Post by explorer » Sat Nov 10, 2018 6:44 am

bittermelon wrote:
Tue Nov 06, 2018 2:19 pm
Often wondered what the story is if I'm getting a ride with a motodop, have an accident and i'm damaged. Maybe he doesn't have a license, or maybe he's o.k and does a runner. Pretty much the most dangerous thing I would do in Cambodia and probably not covered. And not as tho when those guys on the corner are shouting "hello moto" I'm gonna say "excuse me do you gentlemen have licenses?"
I agree. Insurance companies may not pay out on an accident on a motodop. The wording says, you are not covered for motorbike accidents. I dont know of anywhere where they define motorbike accident.

Buy a bicycle.
## I thought I knew all the answers, but they changed all the questions. ##
explorer
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Re: Do you have insurance?

Post by explorer » Sat Nov 10, 2018 6:48 am

zmth wrote:
Wed Nov 07, 2018 2:37 am
The number of people cheating, false claims etc. makes the odds worse for the average person on top of the profit of the insurance companies.
A lot of people are careless with their valuables, and have things stolen much more often. The insurance premium is much higher for everyone to allow for those people.
## I thought I knew all the answers, but they changed all the questions. ##
bittermelon
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Re: Do you have insurance?

Post by bittermelon » Sat Nov 10, 2018 6:55 am

^ I think the wording on my Nomads policy said you were covered on motos/scooters but the driver had to be licensed. And I doubt that the fact that in Cambodia one doesn't need a license for 125cc or under would negate that.
Yep, bought a bicycle, at least I'm covered on that.
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kgbagent
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Re: Do you have insurance?

Post by kgbagent » Mon Nov 12, 2018 12:11 am

atst wrote:
Mon Nov 05, 2018 8:59 am
Are there any insurance policies that cover riding a motor bike, I've got a Cambodian bike licence but Nomads insurance is telling me I need a valid Australian licence as well which I don't have.
I had a long discussion with a nomads rep about this and they are telling u correct - another bit of their fine print is that if you are not wearing a helmet you void and if your home state requires daylight running lights then you need them on here as well which is a connundrum
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kgbagent
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Re: Do you have insurance?

Post by kgbagent » Mon Nov 12, 2018 12:15 am

Roadie wrote:
Fri Nov 02, 2018 9:21 pm
I have world nomads insurance and renew each year. No problem. I haven't needed to claim so thats an unknown at this stage.
I had Nomads as well and got a skin cancer removed at Royal PP which I paid for initially but the hospital documentation was very professional and they paid me back in 10 days. Just be aware there is a 2yr outside your home country limit. They are a good price and well run but be aware of the fine print
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kgbagent
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Re: Do you have insurance?

Post by kgbagent » Mon Nov 12, 2018 12:20 am

zmth wrote:
Mon Nov 05, 2018 9:16 am
explorer wrote:
Wed Oct 24, 2018 5:00 am
I know some people work for NGOs or large companies who provide insurance.

Many people having short holidays also have insurance.

It is also politically correct to say everybody should have insurance.

Those of you staying in a country other than your home country for a long time, who dont have insurance paid by an NGO or company, do you have insurance?

I have already mentioned in another post, I have made a choice to help students from poor families get an education. By not having insurance, I have money to help more students. There is a possibility that I may be in a difficult situation one day, and then maybe nothing like this will happen to me. You never know.
NEVER buy insurance ! Unless u like to gamble. The house always wins in the end for the average person. How do u think insurance companies make money ? Just be logical and DON'T EVER think about buying any insurance of any kind.
Thats just inane - how do you think banks make money? You have to factor in individual circumstances and weigh up your own risk factor

Highly unlikely I will take the advice of a known ketamine using, meth hoe fancier who stays in $5 per night sleazepits in Snooky - I mean, all power to you and your choices, but you are one of the last people who I would listen to on this matter
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kgbagent
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Re: Do you have insurance?

Post by kgbagent » Mon Nov 12, 2018 12:27 am

Kammekor wrote:
Tue Nov 06, 2018 9:08 am
atst wrote:
Tue Nov 06, 2018 8:55 am
Image
Insurance policies need to be read carefully the wording can be miss interpreted
So I'll now follow up on weather my Cambodian licence is recognised in Australia
What if it's valid temporary only, as many countries do for tourists. For instance, my Cambodian license is valid in my country for 3 months only (if I recall correctly). If I want to use it any longer than that in my country I have to pass an exam in my country for that class of vehicle and get a local license.

Would that count as 'valid' for the insurance company or not?

Just be careful.
Bearing in mind that Insurance companies are masters of finding reasons not to pay out I wouldnt take the risk

For decades I took the risk around Asia and were lucky on holidays but residing here increases the odds so now I have local licenses as required - everyday driving my car I have to remonstrate with tourists who have no idea of how to negotiate the local traffic and conditions. I do the same with Khmer but that is worthless as an exercise
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kgbagent
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Re: Do you have insurance?

Post by kgbagent » Mon Nov 12, 2018 12:30 am

atst wrote:
Wed Nov 07, 2018 3:52 pm
I ask the question with the Australian embassy here is their relay they did try to get the answer but I think riding a bike without a Australia bike licence I'm not insured
The OZ embassy is staffed by morons so I wouldnt trust them an inch
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