Are these insurance people professionals? This is not a game to see how much money they can save by not paying out enough to cover my costs. For a quote from a leading insurer on why Building Insurance is paid :
“The idea is to make sure the coverage is adequate to allow the owner to restore the property to a condition where it can be used for its intended purpose. That means the coverage should be sufficient to allow the owner of the property to repair or rebuild the damaged structure in order to make it possible to live in the building once more.”
Nobody from the insurance company came to look at my apartment. There was absolutely no urgency whatsoever from the insurer. They are now offering just over HALF what it cost me to make my apartment habitable again. The sad thing is that I was prepared to accept in the region of THB 90,000 just to get things finished.
I suggest you change the building insurance company as soon as possible. I would also like contact details of all the other owners so I can propose this change at the next AGM. As QPM also manage my apartment in Executive Residence 1 can you please tell me if they use the same insurance company? I will make my own inquiries regarding my other properties.