Insurance For Rental House !?

[NedKelly]

If you are rentinga house from a private person and have completed a 1 year lease but just continued on as normal, are you covered by any form of insurance or do youhave to have your own insurance if something happens ??

Ihave this fear that if the house burns down I will end up in Klong prem like the famouse swede in Koh Lanta !

Any feedback would be great.

[Brew]

Don't expect the house you have rented has an insurance.

Insure it by yourself, the premiums are not high.

There are insurance companies that issue contracts in english language (like Thai Zurich), so you know what you have paid for.

[astral]

You cannot insure something that does not belong to you!!

Insuring the building is the responsibility of the owner, not you.

You could offer to pay the premium. It will only be 3-4000 baht per year.

Take out a Household Contents policy on your belongings in the house.

These policies usually include a third party liability clause that will help

if you get sued when the house does burn down.

I have a policy with Royal & Sun Alliance, but most of the companies now offer them

Edited August 20, 2004 by astral

[NedKelly]

Thanks for that. I will check it out and post again. This has been on my mind for a while so about time I sorted it.

[sprq]

I second Astral. I have used Aviva for several years. Their policy also covers things you take out of the house like cameras, so it's a travel insurance for belongings too.

[Ajarn]

Just curious... Has anyone here ever actually collected on such a home policy?

[Up2U]

You cannot insure something that does not belong to you!!

Insuring the building is the responsibility of the owner, not you.

You could offer to pay the premium. It will only be 3-4000 baht per year.

Take out a Household Contents policy on your belongings in the house.

These policies usually include a third party liability clause that will help

if you get sued when the house does burn down.

I have a policy with Royal & Sun Alliance, but most of the companies now offer them

One can insure almost anything. For instance someone else's life. Companies do it all the time - what they are insuring against is the cost to themselves of recruiting a replacement in case of death or injury, plus the possible intellectual loss.

With a building, if one is renting, one may insure against the possible losses faced by you as a tenant, viz. seeking new accommodation, hotel in the interim, your own negligence in causing loss to the property owner.

Talk to a good insurance company / broker to see what the possibilities are.

(By the way - I hate insurance companies - never do they pay out what you expect - always there is some little sub-clause that excludes your particular circumstance) (But if you are concerned about this point, lay awake at night thinking 'I'm not insured - oh, deary me!' then go for it)