Is your condominium fully insured? As one of your largest investments it makes sense.
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If you are the owner of a condo it may be one of your most valuable assets. To help protect such a valuable asset it is important to take out a condominium insurance policy that covers you properly. You should be covered against fire, theft and other causes of loss against personal property and the interior of your property. In general in Thailand the property itself is insured through the policy of the Juristic Office/Person aka the condo association. Even though the condominium association has cover in place these policies usually don’t cover you in case of forced entry, water leakage and liability protection for bodily injury or property damage to others. In these cases our Condo Insurance becomes important!
Condo Insurance policies generally cover:
● Fire, lightning and water leakage
● Natural Catastrophes (storms, earthquakes etc.) excluding floods
● Plate glass
● A subsidy for temporary accommodation
● Electrical short circuit
● Burglary or armed robbery
● Third Party Liability