Recently Bought A Condo

[jay1980]

Hi

I recently bought a new condo, and I now have taken it from the developer and have the Charnote.

I have put it in the rental market for now until I can spend more time in Thailand.

The condo is Jomtien.

Would insurance should I get, and where should I look?

many thanks in advance.

[bazmlb]

Have a look at Thaivisa's Condocare here...

[briley]

You only need to insure the contents of the condo, including your fittings and fixtures.

The unit, walls and the space should be insured by the Condo.

As that is the majority of the cost of many condo's you don't insure for the price you paid.

[ThaivisaInsurance]

You only need to insure the contents of the condo, including your fittings and fixtures.

The unit, walls and the space should be insured by the Condo.

As that is the majority of the cost of many condo's you don't insure for the price you paid.

This is quite correct the structure (shell) of the building is - or should be !! - insured so what you have to insure is the 'inside'. The way to think of this is to imagine the worst case scenario, a fire. Now if the fire gutted your condo and you have just the concrete shell left, how much is it to replace everything from the floor tiles to the ceiling ?

[jay1980]

thanks for the advise, will ask the question with the developer and go from there

cheers

[frenchfarangjomtien]

Hi,

Do you know how much usually costs insurance for 30 sqm condo ?

And if i don't trust the condo company, can i also pay one more insurance for the shell, so that i can be sure to be insured in case of fire or building destruction ?

Thanks.

[ThaivisaInsurance]

Hi,

Do you know how much usually costs insurance for 30 sqm condo ?

And if i don't trust the condo company, can i also pay one more insurance for the shell, so that i can be sure to be insured in case of fire or building destruction ?

Thanks.

Sorry but as an individual you cannot insure just your shell, the whole building has to be done under one policy. Anyone can check if the building is insured by asking the condo's management for a copy of the policy - as you pay towards the policy in your annual service fees, you are entitled to have a copy. Note : do check the amount the shell is insured for !

For a small 30m2 studio the premium is not expensive but naturally depends on what you have inside.

[trogers]

Have you spent that few thousand bahts to install a Safe-T-Cut?

That's the best insurance against loss of lives and fire from electrical short circuit, especially when you intend to lease the condo unit out.

Edited December 6, 2010 by trogers