Owning a condominium in Thailand (and living there myself with gf). What are my responsibilities? Who pays in case of fire, water leak, etc. Which insurances make sense?

[OneMoreFarang]

I think the title of this post lists most of the questions.

Maybe the answers are different i.e. if a fire starts in my condominium unit or someone else unit or the common area.

Same with water leaks.

And what about a situation where, maybe after a fire, my unit in a high floor is fine but the building is damaged in a lower floor. Maybe I can't access my unit anymore. Maybe, in theory, I can do that. But who wants to live in a building with lots of fire or water damage?

 

It would be great to get answers from owners who know the laws and maybe have some insurances. Please no speculations how this would be somewhere not in Thailand.

 

Thanks

[ezzra]

The juristic office has insurance on the building and they're responsible for the safety and the onging concerns of the building. but for your peace of mind always insure your apartment for fire theft and water damage, this way you'll be covered for every eventuality.

[OneMoreFarang]

1 minute ago, ezzra said:

The juristic office has insurance on the building and they're responsible for the safety and the onging concerns of the building. but for your peace of mind always insure your apartment for fire theft and water damage, this way you'll be covered for every eventuality.

Thanks.

Does such insurance pay me if there is a fire or water in my unit, independent where it started?

Or is that insurance to compensate others if a fire or water leak starts in my unit?

[rumak]

I remember you putting in a lot of effort ....researching ,  then hiring people to removate the condo .

Can you give us members an honest appraisal of how it all went ?

the good and the bad ....

[kennw]

1 hour ago, ezzra said:

The juristic office has insurance on the building and they're responsible for the safety and the onging concerns of the building. but for your peace of mind always insure your apartment for fire theft and water damage, this way you'll be covered for every eventuality.

I think you will find it is very difficult to get insurance cover for your own condominium room that does not exclude the possible events that worry us the most. For example, water damage from pipe break or overflow, and to the room below, or other rooms if the water flows along corridors or down stairs/ utility ducts. We have tried, no success. Post a reply if you have any success. 

[OneMoreFarang]

2 hours ago, rumak said:

I remember you putting in a lot of effort ....researching ,  then hiring people to removate the condo .

Can you give us members an honest appraisal of how it all went ?

the good and the bad ....

I will. When it's done.

And until now it isn't finished yet.

There are multiple reasons. Some material, which I specifically requested, had months of delay, and then more delay. Some things were done not as good as they should, and now the contractor and his people fix these things. And then there are things where I change my mind and that caused delay.

Maybe a month or two more - but that's what I though 3 month ago...

 

[OneMoreFarang]

1 hour ago, kennw said:

I think you will find it is very difficult to get insurance cover for your own condominium room that does not exclude the possible events that worry us the most. For example, water damage from pipe break or overflow, and to the room below, or other rooms if the water flows along corridors or down stairs/ utility ducts. We have tried, no success. Post a reply if you have any success. 

Is "that does not exclude" a typo?

I am happy if all possible scenarios are included.

[rumak]

29 minutes ago, OneMoreFarang said:

I will. When it's done.

And until now it isn't finished yet.

There are multiple reasons. Some material, which I specifically requested, had months of delay, and then more delay. Some things were done not as good as they should, and now the contractor and his people fix these things. And then there are things where I change my mind and that caused delay.

Maybe a month or two more - but that's what I though 3 month ago...

 

My god !  Oh, i forgot,  most guys haven't been here as long as i have.   My first house took about 4 months from start to finish.   Now that I have adapted to the Thai way ( sabai sabai)  my latest home sweet home took just 3 days .   And I never have to tell my guests to be careful not to scratch anything !

[couchpotato]

18 minutes ago, rumak said:

My god !  Oh, i forgot,  most guys haven't been here as long as i have.   My first house took about 4 months from start to finish.   Now that I have adapted to the Thai way ( sabai sabai)  my latest home sweet home took just 3 days .   And I never have to tell my guests to be careful not to scratch anything !

Is it insured?

[rumak]

5 minutes ago, couchpotato said:

Is it insured?

only for if i trip falling down the stairs ......

[digbeth]

for condo with freehold title, in case of damage like fire that's enough to make the building unlivable, to dissolve a condo requires unanimous vote by all co-owners, same with say 40-50 years down the line if the building become dilapidated and a developer come knocking with offer to put the building down and build something else, each co-owner would get their respective share of the proceeds, ie. the value of the land and what's left of the building,

 

other option is for all owners to chip in and rebuild the building, which is unlikely the insurance are also unlikely to cover enough for replacement either

 

I don't think this has happened yet to freehold condo in Bangkok, earliest building with condo title in Bangkok are probably 40-45 years old, there's bound the be one soon, 

[snowgard]

https://www.axa.co.th/en/home-and-family-insurance

 

https://www.muangthaiinsurance.com/en/product/category/5

 

https://www.bolttech.co.th/en/property-insurance

Edited March 28, 2023 by snowgard

[Etaoin Shrdlu]

Homeowners policies are available from a number of insurers in Thailand that will cover a condo owner's property as well as legal liability arising out of their negligence.

 

Ask your broker to explain what your risk of loss is and how a policy may address it.