Fire Insurance for Secured Loans

Key Features

• Coverage for buildings used as collateral.
• Protection for buildings used for both residential and business purposes.
• Coverage includes damages caused by fire, lightning, explosion (1), water-related risks (2), collision or impact from vehicles (2), and aircraft-related risks (2).

(1) Explosion Risk: For properties used for business purposes, coverage is limited to explosions caused by gas used for residential purposes and lighting only.

(2) Water, Vehicle Impact, and Aircraft Risks: Coverage applies only to residential properties.

• Coverage for residential properties such as single houses, townhomes, commercial buildings, and condominiums/apartments.
• Insurance premiums starts at 3.5 THB per day.

Based on a calculation of condominium which is located at 1^st–7^th Floors with a sum insured of 1,000,000 THB and a coverage period of 1 year.

Benefits and Coverage

For Residential Properties

• Category 1: Basic Coverage

Coverage includes damages caused by fire, lightning, explosion, water-related risks (excluding flooding), collision or impact from vehicles, and aircraft-related risks.

Coverage for natural disasters (floods, storms, hail, and earthquakes) with a maximum limit of up to 20,000 THB per event per year.

• Category 2: Additional Coverage (Self-paid insurance premium)

For Single Houses, Townhomes, and Commercial Buildings:

• Windstorm, earthquake, and hail: Coverage up to the sum insured.
• Flooding: Coverage up to 50,000 THB.

For Condominiums/Residential Units:

• Windstorm: Coverage up to 100,000 THB.
• Earthquake: Coverage up to 100,000 THB.

For Properties Used for Business Purposes

• Category 1: Basic Coverage

Coverage includes damages caused by fire, lightning, and explosion.*

Explosion Risk: For business properties, coverage is limited to explosions caused by gas used for residential purposes and lighting only.

• Category 2: Additional Coverage (Self-paid insurance premium)

For Commercial Buildings:

• Collision or impact from vehicles, aircraft-related risks, water-related risks (excluding flooding)*, windstorm, earthquake, and hail: Coverage up to the sum insured.
• Flooding: Coverage up to 50,000 THB.

Water-Related Risks
Water-related perils occur accidentally due to the discharge, leakage, or overflow of water from pipes, water tanks, air conditioning systems, and also include rainwater entering the building, such as through damage to the roof, windows, doors, door and window frames, ventilation openings, skylights, pipes, or gutters.

Underwriting Conditions

Insurance is provided only for buildings constructed entirely of concrete or similar structures. This includes buildings made of concrete, concrete blocks, precast concrete panels, plastered brick, or unplastered brick.

Insurance Premium: Dependent on:

• The sum insured.
• The purpose of use of the insured property.
• The floor level of the property (applicable to condominiums, residential units, or offices)
• Coverage period

Exclusions

The exclusions listed below are only a partial summary. Applicants should review the full policy wording for complete details.

• The insured property is left unoccupied or without maintenance for more than 60 consecutive days.
• Any changes to the insured location that increase the risk of loss or damage.
• Any loss or expense, whether directly or indirectly caused by war, rebellion, revolution, coup d'état, martial law, political unrest, strikes, or riots.
• Loss or damage to original or duplicate documents, blueprints, plans, drawings, or printed materials.

Notes

• The information in this document is for preliminary reference only and is intended to support the sales process. It is not part of the insurance contract. Customers are advised to study the details regarding coverage, terms, conditions, exclusions, and benefits provided under the insurance policy.
• Customers should thoroughly understand the terms and coverage of the insurance plan before deciding to purchase insurance.
• CIMB Thai Bank Public Company Limited acts as a non-life insurance broker and is responsible solely in this capacity. The bank facilitates premium payments only. Sompo Insurance (Thailand) Public Company Limited, as the insurer, is responsible for providing coverage and benefits as specified in the insurance policy.
• For any issues or inquiries, please contact Sompo Insurance (Thailand) Public Company Limited Customer Service Center at 02-119-3000 (Monday–Friday, 8:30 AM–5:00 PM).
• Bank contact channels: All branches of CIMB Thai Bank Public Company Limited, CIMB Thai Care Center at 0-2626-7777, or the CIMB Thai website at www.cimbthai.com