Condo Renting Information

[harro1 256]

When you rent a condo does the owner have insurance? Do I have to get insurance?

 

What I am thinking is if I rent a furnished condo and come home one day and all the furniture has been stolen do I then have to replace it?

 

Same question for a scooter, what happens if it gets knocked off?

[Bullfrog 2,224]

I have 2 fully furnished studios which are rented out..my only insurance is the 30,000 deposit I have on each...If anything is not there when they leave then I keep an amount equal to the value of the missing item.

[Baxer 0]

I have 2 fully furnished studios which are rented out..my only insurance is the 30,000 deposit I have on each...If anything is not there when they leave then I keep an amount equal to the value of the missing item.

 

And if there is a fire?

[kaiser71 30]

Interesting thread at thaivisa

http://www.thaivisa.com/forum/topic/426487-insurance-for-possessions-inside-condo/

[jacko 8,696]

When you rent a condo does the owner have insurance? Do I have to get insurance?

 

What I am thinking is if I rent a furnished condo and come home one day and all the furniture has been stolen do I then have to replace it?

 

Same question for a scooter, what happens if it gets knocked off?

Read your contract, read it well.

Owners may or may not have taken out insurance, but the contract should define liability, and likely yes you are responsible for the contents.

Generally some security deposit is taken, but this is just to get a bit more cash into the renter's pocket and is not the extent of your liability.

If you rent a scooter in LOS, generally you are responsible for it 100%, so if it goes, you pay. A small number of companies (Mai Pang is one) offer more comprehensive insurance. Not certain it covers theft as I know motorcycle theft insurance is expensive in Pattaya, and often only available as an incentive to buy new.

Edited August 21, 2011 by jacko

[kaiser71 30]

And if there is a fire?

from thaivisa thread

http://www.thaivisa.com/forum/topic/426487-insurance-for-possessions-inside-condo/

 

 

"Important : do check to make sure the Owner has the interior of the condo (everything from A/C's to the kitchen and bathroom) insured as you are responsible for anything that may happen while you are there."

 

------

 

"I live in a rented unit in a Thai family owned and occupied building, and the Thai owner doesn't carry their own insurance. So I wanted insurance to cover both my own possessions and to protect myself for liability should anything happen while I'm living there...

 

I consulted with a very good, professional English speaking Thai insurance broker in BKK that I've used happily for the past four years to place my Thai medical insurance....and later other policies such as this one...

 

The result was to obtain a "Smart Home" policy from AXA Insurance, a large and well-reputed company. I pay about $100 a year and get:

 

--5 million baht Thailand personal liability coverage for both bodily injury to others and property damage including from fire.

--1 million baht building and home contents coverage, with a 2000 baht deductible for water, wind, earthquake and flood damage.

--100,000 baht cover for temporary accommodation

--200,000 baht cover for family member loss of life

--100,000 baht forcible burglary coverage

 

For whatever reason, the policy stipulates it excludes coverage for small portable electronics such as laptops, digital cameras, mobile phones and watches...

 

Another company that offers similar but less expensive policies is MSIG. Both AXA and MSIG policies, essentially to cover renters, should be available from any good local insurance broker. With the relatively modest cost of such policies, there's no reason in my view that anyone renting in Thailand should go unprotected."

 

-------------------------------------------------------------------------------------

 

The place burns down or stuff gets stolen; you're liable. Really?!!

[Bullfrog 2,224]

from thaivisa thread

http://www.thaivisa.com/forum/topic/426487-insurance-for-possessions-inside-condo/

 

 

"Important : do check to make sure the Owner has the interior of the condo (everything from A/C's to the kitchen and bathroom) insured as you are responsible for anything that may happen while you are there."

 

------

 

"I live in a rented unit in a Thai family owned and occupied building, and the Thai owner doesn't carry their own insurance. So I wanted insurance to cover both my own possessions and to protect myself for liability should anything happen while I'm living there...

 

I consulted with a very good, professional English speaking Thai insurance broker in BKK that I've used happily for the past four years to place my Thai medical insurance....and later other policies such as this one...

 

The result was to obtain a "Smart Home" policy from AXA Insurance, a large and well-reputed company. I pay about $100 a year and get:

 

--5 million baht Thailand personal liability coverage for both bodily injury to others and property damage including from fire.

--1 million baht building and home contents coverage, with a 2000 baht deductible for water, wind, earthquake and flood damage.

--100,000 baht cover for temporary accommodation

--200,000 baht cover for family member loss of life

--100,000 baht forcible burglary coverage

 

For whatever reason, the policy stipulates it excludes coverage for small portable electronics such as laptops, digital cameras, mobile phones and watches...

 

Another company that offers similar but less expensive policies is MSIG. Both AXA and MSIG policies, essentially to cover renters, should be available from any good local insurance broker. With the relatively modest cost of such policies, there's no reason in my view that anyone renting in Thailand should go unprotected."

 

-------------------------------------------------------------------------------------

 

The place burns down or stuff gets stolen; you're liable. Really?!!

 

Good information

[harro1 256]

Read your contract, read it well.

Owners may or may not have taken out insurance, but the contract should define liability, and likely yes you are responsible for the contents.

Generally some security deposit is taken, but this is just to get a bit more cash into the renter's pocket and is not the extent of your liability.

If you rent a scooter in LOS, generally you are responsible for it 100%, so if it goes, you pay. A small number of companies (Mai Pang is one) offer more comprehensive insurance. Not certain it covers theft as I know motorcycle theft insurance is expensive in Pattaya, and often only available as an incentive to buy new.

 

I can just see some Thai scams here.

 

Furniture old, let's steal our old furniture and falang can buy new.

 

Let's steal our bike and falang can buy new one. When falang go home we can rent out old bike again and have new bike to rent out too.

[harro1 256]

Thanks Kaiser71 very helpful.

[jacko 8,696]

 

Let's steal our bike and falang can buy new one. When falang go home we can rent out old bike again and have new bike to rent out too.

I am not sure if it is an 'old wives tale', but it was often said the renter would come ans steal his own motorbike from infront of your hotel at nightime:.

 

I was paranoid enough to get my own padlock on it!