Do you have insurance?
Re: Do you have insurance?
- newkidontheblock
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Re: Do you have insurance?
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.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
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.
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Re: Do you have insurance?
Parts of banking is remarkably similar to insurance practices.newkidontheblock wrote: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.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
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.
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
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Re: Do you have insurance?
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.)
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Re: Do you have insurance?
What a nonsense post, I’m struggling to see any relevance.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.)
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?
Re: Do you have insurance?
Nobody took KNLF seriously until they struck at the very heart of the Cambodian economy: expat insurance coverage.
- JUDGEDREDD
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Re: Do you have insurance?
Yes, mainly because most the money I spend throughout life is to stave off death. (Sustinance, shelter etc)
Slow down little world, you're changing too fast.
Re: Do you have insurance?
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.
Re: Do you have insurance?
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.
I just have to enter Australia every 90 days, which costs on average $A500 round trip.
Cheaper than expat insurance.
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Re: Do you have insurance?
But are you covered in case a buffalo gores you?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.
ALWAYS READ THE FINE PRINT!
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