Insurance For Renters In Thailand.

[aussiebebe]

Hello everyone,

I've read through a number of posts in this forum and hope this isn't a silly question, but I'm moving to a rented home, had the contract translated into English, it suggests that I am liable to pay for anything that gets broken or damaged in any way.

I've only been living in Bangkok for three years and I've read other posts to effect of 'contracts aren't worth the paper they are written on', however, if anyone knows of any insurance covering renters then I'd appreciate useful replies.

The steps I've already taken are:

1. I asked the owner whether they had home insurance - oh yes of course they did. How could I confirm this if they will not show me proof?

2. Asked for further clarification of the (maybe worthless) contract - "oh no, of course you don't need insurance!" came the reply.

I'm worried about this because what if the house catches fire (not my fault) and I'm marched to the police station to pay for a new house! All these 'what if?' are boiling up.

The insurance I'm thinking of is common in the USA, for example, and would generally be around a tenth of the cost of homeowner insurance (so says an American friend of mine) - if anyone knows of a company then that would be great.

Many thanks in advance

[briley]

Try

http://www.nzi.co.th/eng/Default.aspx

it might be working for an on line quote.

Or most insurance brokers. In Chiang Mai QBE give good quotes. About 3,000 baht for a million or so of cover. Lots of variables so can be much more or less.

[phaethon]

In a similar vein, I was wondering if one could get insurance against non-return of deposit?

I suspect the temptation to retain a deposit (unjustly) would be seriously reduced if the landlord knew they'd have to deal with a (Thai) insurance adjuster.

[kamalabob2]

Rental insurance for a home is easy to obtain in Thailand. You can even deal with a native English speaking broker who will e-mail you several prices and sample policy coverage from "real" companies. I paid 2025 baht per year of decent coverage (750,000 baht coverage) on a small rental home, with the ThaiSri Insurance Company that I obtained through Eric Dohlon of www.insurance-in-thailand.com I have never met Eric, but it was simple and easy via the telephone and internet to select the policy, pay via the bank and receive a pdf of the policy and then a mailed copy of the policy with receipts.

There did not seem to be "normal discounts" for fire alarms, how close to fire hydrants, etc.. There was a 10% real discount for no claims on the 2nd year.

[LennyW]

MSIG Insurance (Thailand) Co Ltd. 02 788 8888 in Banglok, Home safe package 2500 Baht a year for 3,000,000 coverage.

[aussiebebe]

Thank you very much for those replies. Seriously thanks. Very, very helpful - problem solved, case closed!

Merry Christmas everyone!

[aussiebebe]

I've purchased home insurance from MSIG. Their service was very straightforward and easy to use, I hope I never have to claim but it's bought me piece of mind. I'd like to say a huge 'Thank you!' to those knowledgeable board members who replied – simply knowing that insurance existed to cover renters (as opposed to owners) gave me the confidence to stipulate precisely what I wanted and needed to the insurance brokers. No-one ever told me about such insurance, and my Thai friends assure me that few Thai's bother with it, but I think that everyone should at least be told about it if they come to Thailand and live in rented accommodation. My only point is that people could form two mistaken beliefs: Either they think that their condo building or landlord/lady is insured when that simply isn't the case or they believe that they (the tenants) aren't liable for damage arising from burglary, fire, lightening etc when in fact they are. It's best to take out your own policy, I think, to cover yourself.

Thanks again.

[GungaDin]

I've just bought contents insurance for my house rental, 2700bt for US$20,000 cover.

The Thai owner does not have insurance for the house.

Should I worry?

[ThaivisaInsurance]

Hello everyone,

I've read through a number of posts in this forum and hope this isn't a silly question, but I'm moving to a rented home, had the contract translated into English, it suggests that I am liable to pay for anything that gets broken or damaged in any way.

I've only been living in Bangkok for three years and I've read other posts to effect of 'contracts aren't worth the paper they are written on', however, if anyone knows of any insurance covering renters then I'd appreciate useful replies.

The steps I've already taken are:

1. I asked the owner whether they had home insurance - oh yes of course they did. How could I confirm this if they will not show me proof?

2. Asked for further clarification of the (maybe worthless) contract - "oh no, of course you don't need insurance!" came the reply.

I'm worried about this because what if the house catches fire (not my fault) and I'm marched to the police station to pay for a new house! All these 'what if?' are boiling up.

The insurance I'm thinking of is common in the USA, for example, and would generally be around a tenth of the cost of homeowner insurance (so says an American friend of mine) - if anyone knows of a company then that would be great.

Many thanks in advance

To clarify the misunderstands.

The 'renter' is liable for all damage to the owner for the property they rent.

This includes not just the contents i.e. anything from fixtures to soft furnishings but also the building !

We would also suggest that even if the lease states the owner is responsible for all damage should anything happen, the lessor will in the real world still be held accountable unless there insurance cover in place.

Insurance is the only prudent way to cover oneself and a simple request to the owner for a copy of the policy will show you what is or is not covered.

If there is no insurance, an "All Risks" property insurance is not expensive and adds very little to the 'rent' over a period of a year.

Thai Visa Insurance also offers tailor made property insurance to the Owners to cover not just the property but also 'Tenant Liability' – please contact TV Insurance for more details.

[parryhandy]

The 'renter' is liable for all damage to the owner for the property they rent.

Does this include flood damage in an area/estate that always floods every year.

Is the tennent liable for flood damage to the house he/she rents when there is no way they can prevent it and very unlikely an insurance company would insure against it.

[ThaivisaInsurance]

The 'renter' is liable for all damage to the owner for the property they rent.

Does this include flood damage in an area/estate that always floods every year.

Is the tennent liable for flood damage to the house he/she rents when there is no way they can prevent it and very unlikely an insurance company would insure against it.

In Thailand who can say but the most important thing is to guard against the unexpected.

To the second part of your question, unless you live in an area which is known to flood regularly (and it would be a tad silly to live there !) then yes, you can get insurance.

Again, simply email or sent a quotation request to Thai Visa Insurance and we can offer the most suitable cover for you.

[kamalabob2]

There is an unfortunate tale, even published in last Sunday's Bangkok Post which hammers home the need for a house renter to spend the princely sum of 2000 to 3000 baht or so for renters insurance.

http://www.thaivisa.com/forum/Story-Gazette-t266770.html

[tonydabbs]

In a similar vein, I was wondering if one could get insurance against non-return of deposit?

I suspect the temptation to retain a deposit (unjustly) would be seriously reduced if the landlord knew they'd have to deal with a (Thai) insurance adjuster.

Better yet. File a compaint with the police. It works!

[prakhonchai nick]

MSIG Insurance (Thailand) Co Ltd. 02 788 8888 in Banglok, Home safe package 2500 Baht a year for 3,000,000 coverage.

First class company. I have helped several friends obtain insurance either for their homes or rented properties. They also insure both my cars.

Deal direct with them - can all be done online. Scan and e-mail any proposal forms to them. Immediate cover granted. And they have many good English speakers.

Thoroughly recommended. Used them and their predecesssors, Commercial Union, General Accident and Aviva for the past 20 years.

[TheWalkingMan]

Landlords should require all tenants to pay for renters insurance or include it in the rent.

[SurfRider]

"I suspect the temptation to retain a deposit (unjustly) would be seriously reduced if the landlord knew they'd have to deal with a (Thai) insurance adjuster . . . Better yet. File a complaint with the police"

Doubtful! -- Example: If a 50,000 Baht deposit were involved, A savvy landlord would simply offer either the adjuster or cops 10,000 to go away and pocket the remaining 40,000.

Next Victim! [ TiT ] . . .

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