Hi guys,

I like you to share your experience in this matter I’m sure there are among you who rent out a property as I do now, I wonder how you deal with an condo insurance regarding tenants so far has I did some research and (try to) understand the insurance companies it seems that your personal condo insurance (besides “building insurance” from Juristic Person) not covers the tenants are partly as e.g. “AXA” only 10% of the insured liability sum which can be up to a max. of 5,000,000 Bath (tenants liability max. 500,000 Bath).

What’s the best solution to protect yourself as an owner and for your tenants?

_500,000 Bath coverage for liability is enough?

_Is there any insurance company who gives a coverage with the same conditions for the condo owner as well as the tenants?

_One include a clause in the Lease agreement which you suggest or demand that the tenants will/must take care for their own insurance coverage regarding condo and liability?

Any other suggestions?

Thanks in advance

1) the currency in this country is BAHT. B.A.H.T.

1) the currency in this country is BAHT. B.A.H.T.

Ooops....thanks for the correction

What do you see as the tenants liability?

What do you see as the tenants liability?

Can you be more specific.

What do you see as the tenants liability?

Can you be more specific.

You want to insure something. What are the risks you see to insure?

What do you see as the tenants liability?

Can you be more specific.

You want to insure something. What are the risks you see to insure?

The usual basic + other perils (fire, water damage (no flood), lightning, explosion, windstorm etc.....) coverage for your contents meaning fixed (kitchen, build-in closets, laminate floor, tiles, plasterboard ceiling, window frames, glass, doors, all plumbing and electric items) and not fixed (furniture, curtains, clothing, electrical appliances) items, basically everything in the condo that has to replaced or rebuild.

What do you see as the tenants liability?

Can you be more specific.

You want to insure something. What are the risks you see to insure?

The usual basic + other perils (fire, water damage (no flood), lightning, explosion, windstorm etc.....) coverage for your contents meaning fixed (kitchen, build-in closets, laminate floor, tiles, plasterboard ceiling, window frames, glass, doors, all plumbing and electric items) and not fixed (furniture, curtains, clothing, electrical appliances) items, basically everything in the condo that has to replaced or rebuild.

Most of that is condo owner, not tenant.

Most of that.....so what's left for tenant?

Most of that.....so what's left for tenant?

Not-fixed.

Why don't you just ask an insurance broker to help you with your questions, they're there for that.

In condo buildings here the major liability and the source of most claims is water leaking downwards.

Most if not all insurance companies here seem to offer contents and liability cover for around 2-2.5kB per MB of cover. This should cover both damage caused by your unit and damage caused to your unit, which is useful as it isnt always easy to get the co-owner above you to pay for any damage he has caused.

It pays to shop around and it would also pay to get your building management to obtain a quote for the entire building on a per room basis as this should reflect a good discount.

Most of that.....so what's left for tenant?

Not-fixed.

Why don't you just ask an insurance broker to help you with your questions, they're there for that.

Well that's one of the reasons I posted this topic on TV......it's grey world here or do you know a reliable broker?!