Top 5 Business Insurance Myths in Thailand — And the Truth Behind Them
Business insurance in Thailand isn’t just about buying a policy — it’s about understanding how that coverage truly protects your operations. Unfortunately, many small business owners fall victim to insurance myths that can lead to costly coverage gaps and false expectations.
At Thailand Insurance Services, we believe in open communication and informed decisions. Let’s clear up some of the most common misconceptions we’ve encountered when helping local and international clients protect their businesses in Thailand.
Myth #1: “I’m a small business — I don’t need insurance.”
Even small operations are exposed to risks like fire, theft, lawsuits, or natural disasters. In fact, small businesses can be even more vulnerable to losses because they may lack the financial buffer larger companies enjoy.
Whether you own a café in Chiang Mai, a startup in Bangkok, or a consulting firm serving global clients, business insurance is essential. As brokers, we tailor coverage to match your specific risk profile, so you’re not over- or under-insured.
Myth #2: “I already have coverage, so I’m fully protected.”
Many business owners mistakenly assume one policy does it all. However, different types of coverage serve different purposes — and gaps are common.
For example, a standard property policy may not include protection for cyberattacks, business interruptions, or professional errors. At Thailand Insurance Services, we carefully review your current policies, explain exclusions, and recommend suitable protections to fill in the missing pieces.
Myth #3: “It’s cheaper to buy insurance directly from a company.”
Going direct to insurers may cost you more in the long run. As insurance brokers, we not only compare offers across multiple insurers but also negotiate better terms based on deep industry knowledge and insurer relationships.
Insurers often do not discount policies even if they pocket the broker’s commission — and may sell you products that serve their interests more than yours. With Thailand Insurance Services, we work for you, not the insurer.
Myth #4: “All policies are pretty much the same.”
Insurance is not a one-size-fits-all product. Even policies with the same name (e.g., “public liability”) can have vastly different exclusions, limits, and conditions depending on the provider.
Our team helps business owners understand the fine print, identify hidden pitfalls, and ensure policies meet the specific risk outcomes they expect — especially important in Thailand’s conservative and often complex insurance market.
Myth #5: “Claims are easy — I can handle them myself.”
Filing a claim is often more complicated than expected. It’s not just about submitting forms — it’s about knowing what evidence is needed, interpreting coverage clauses, and negotiating outcomes when disputes arise.
Thailand Insurance Services provides end-to-end claim assistance, advocating on your behalf from the moment a loss occurs until final settlement. We help ensure your claims are processed correctly and equitably.
Let’s Set the Record Straight
Don’t let common misconceptions put your business at risk. At Thailand Insurance Services, we offer not just coverage — but confidence, clarity, and partnership.
Contact us today to speak with a qualified broker who will take the time to understand your business, review your current protections, and help you make smart, informed insurance decisions.
🧠 FAQs — Business Insurance Myths
Is it really cheaper to go direct to an insurance company in Thailand?
Not usually. Brokers like Thailand Insurance Services can often secure better terms and pricing due to their market expertise and negotiation power.
What happens if I believe I’m covered, but I’m not?
That’s a risk many businesses unknowingly take. We help identify hidden exclusions and fill gaps with tailored protection.
Can a broker help after my claim is denied?
Yes. A broker advocates for you during the claims process, including appealing denied claims and guiding you on next steps.
