Do you have insurance?

Ask us anything. Cambodia Expat's Online has a huge community of long term expats that can answer any question you may have about life in Cambodia. Have some questions you want to ask before you move to Cambodia? Ask them here. Our community can also answer any questions you have about how to find a job or what kind of work is available for expats in Cambodia, whether you're looking for info about Phnom Penh, Siem Reap or anywhere else in the Kingdom. Don't be shy, ask CEO's members anything!
User avatar
Kammekor
Expatriate
Posts: 1846
Joined: Fri Sep 01, 2017 12:50 pm
Reputation: 590
Cambodia

Re: Do you have insurance?

Post by Kammekor » Mon Nov 12, 2018 6:59 am

kgbagent wrote:
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
Being a moron seems to be a qualification needed for many positions in many embassies.
newkidontheblock
Expatriate
Posts: 1449
Joined: Tue May 20, 2014 3:51 am
Reputation: 393

Re: Do you have insurance?

Post by newkidontheblock » Mon Nov 12, 2018 7:05 am

kgbagent wrote:Thats just inane - how do you think banks make money? You have to factor in individual circumstances and weigh up your own risk factor
Banks make money by providing s safe deposit money location (safer from crooks than hiding it under the bed), lending it out to other who need money, and collecting the interest. Also make money in exchanging currencies, sending money abroad, etc.

The bank loses when a robber walks in and takes away the money, or people default on their loan obligations.

Nothing to do with how insurance works.
khmerhamster
Expatriate
Posts: 255
Joined: Thu Jun 16, 2016 2:28 pm
Reputation: 92
Turkmenistan

Re: Do you have insurance?

Post by khmerhamster » Mon Nov 12, 2018 7:45 am

newkidontheblock wrote:
kgbagent wrote:Thats just inane - how do you think banks make money? You have to factor in individual circumstances and weigh up your own risk factor
Banks make money by providing s safe deposit money location (safer from crooks than hiding it under the bed), lending it out to other who need money, and collecting the interest. Also make money in exchanging currencies, sending money abroad, etc.

The bank loses when a robber walks in and takes away the money, or people default on their loan obligations.

Nothing to do with how insurance works.
Parts of banking is remarkably similar to insurance practices.
Customers are targeted, rates calculated etc based on risk. The lower the risk the cheaper the borrowing, the higher the risk the more expensive the borrowing.
Both banks and insurance companies use mathematical risk models to determine pricing and therefore profitability.
newkidontheblock
Expatriate
Posts: 1449
Joined: Tue May 20, 2014 3:51 am
Reputation: 393

Re: Do you have insurance?

Post by newkidontheblock » Mon Nov 12, 2018 8:44 am

A drunk foreigner riding a moto without a helmet, papers, or license after midnight? Mathematical risk of an accident must be extremely high, therefore uninsurable unless wiling to pay a huge rate. Of course if the death is declared an act of terrorism, insurance will pay nothing. (From 9/11 twin towers - terrorist events can’t be predicted on an actuarial table.)
khmerhamster
Expatriate
Posts: 255
Joined: Thu Jun 16, 2016 2:28 pm
Reputation: 92
Turkmenistan

Re: Do you have insurance?

Post by khmerhamster » Mon Nov 12, 2018 9:16 am

newkidontheblock wrote:A drunk foreigner riding a moto without a helmet, papers, or license after midnight? Mathematical risk of an accident must be extremely high, therefore uninsurable unless wiling to pay a huge rate. Of course if the death is declared an act of terrorism, insurance will pay nothing. (From 9/11 twin towers - terrorist events can’t be predicted on an actuarial table.)
What a nonsense post, I’m struggling to see any relevance.
High risk activities is why insurance policies have exclusions. It should be possible to get insurance for anyone, if you are willing to pay for it - but that doesn’t mean that they are covered for dumb and illegal activities.

And what does terrorism have to do with insurance in Cambodia? Are you concerned about the Khmer branch of Al Qaeda?
User avatar
fax
Expatriate
Posts: 2349
Joined: Tue Apr 03, 2018 9:28 am
Reputation: 1136
Korea North

Re: Do you have insurance?

Post by fax » Mon Nov 12, 2018 9:43 am

Nobody took KNLF seriously until they struck at the very heart of the Cambodian economy: expat insurance coverage.
User avatar
JUDGEDREDD
Expatriate
Posts: 630
Joined: Wed May 31, 2017 2:34 am
Reputation: 206
Great Britain

Re: Do you have insurance?

Post by JUDGEDREDD » Mon Nov 12, 2018 2:19 pm

Yes, mainly because most the money I spend throughout life is to stave off death. (Sustinance, shelter etc)
User avatar
PSD-Kiwi
Expatriate
Posts: 2854
Joined: Wed Jul 09, 2014 8:25 am
Reputation: 735
New Zealand

Re: Do you have insurance?

Post by PSD-Kiwi » Mon Nov 12, 2018 6:12 pm

Those saying that they have cover by World Nomads...make sure you read the fine print, it is Travel Insurance, if you are deemed to be resident in the country you are claiming from then they will not pay out. I think someone mentioned 2 years, which could be right. Read the very fine print...don't rely on travel insurance if you are living in a foreign country.
LaudJohn
Expatriate
Posts: 510
Joined: Sun May 18, 2014 8:08 am
Reputation: 96

Re: Do you have insurance?

Post by LaudJohn » Mon Nov 12, 2018 7:03 pm

FWIW, I have full insurance, it covers me, the ex and my daughter worldwide. It costs less $A550 ish per year. It covers me for big bikes as well.

I just have to enter Australia every 90 days, which costs on average $A500 round trip.

Cheaper than expat insurance.
Barang chgout
Expatriate
Posts: 3065
Joined: Mon Dec 01, 2014 11:36 am
Reputation: 677

Re: Do you have insurance?

Post by Barang chgout » Mon Nov 12, 2018 8:13 pm

LaudJohn wrote:FWIW, I have full insurance, it covers me, the ex and my daughter worldwide. It costs less $A550 ish per year. It covers me for big bikes as well.

I just have to enter Australia every 90 days, which costs on average $A500 round trip.

Cheaper than expat insurance.
But are you covered in case a buffalo gores you?
ALWAYS READ THE FINE PRINT!

Sent from my SM-G570Y using Tapatalk

Post Reply Previous topicNext topic
  • Similar Topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: Anthony's Weiner, Bedazzler!, Doc67, JJ62, lurcio, Majestic-12 [Bot], mossie, MSN [Bot], Old8404, Soriya, timmydownawell, Username Taken, xandreu and 166 guests