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Property Insurance

House insurance: Your home usually represents your largest asset so it is therefore important to make sure that it is protected accordingly. There are many local insurance brokers that will offer a wide variety of plans to protect your home and household contents, some even including personal third party liability for you and your loved ones throughout Thailand.

Condominium insurance: To help protect it against fire, theft and other covered causes of loss, it is recommended to take out a condominium policy that covers your personal property and interiors of your condo unit accordingly. In general, the condominium building, construction and common areas are insured through the policy of the Juristic Person, i.e. the condominium association. Even though the condominium association has their own coverage, these policies usually won’t cover you in cases of forced entry, water leakages and liability protection for bodily injury or property damage to others. In these cases, a Condo Insurance policy will come in handy!

The most common insurance policies available in Thailand are:

Named Perils. A property insurance term referring to policies that provide coverage only for loss caused by the perils specifically listed as covered.

All-Risks. These property insurance policies will cover loss arising from any un-fortuitous cause except those that are specifically excluded. There is also the additional benefit of being covered for accidental damage and having nationwide liability coverage.

The Named Perils policies are usually more popular because they tend to be slightly cheaper and already have quite an extensive coverage, such as:

  • Natural catastrophes (storm, earthquakes etc.)
  • Electrical short circuit
  • Burglary, armed robbery
  • Fire, lightning and water leakage
  • Cost of temporary accommodation in case of property damage/
    loss of property
  • Repair costs due to burglary
  • Plate glass
  • Third party liability Thailand wide