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Can I get Home Insurance for a Holiday Home?


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Q:

I live in Hong Kong, but i have a holiday home in Bangkok, no one live there but i go there for short vacation 4 times a year, i worry about fire, water damage, personal liability e.g. Falling window hurting pedestrian when my home is unused long time, do you provide that special kind of insurance for holiday home? The developer in Thailand is Sansiri, it is well known, the building is completed in.July 2015.

A:

It is possible to obtain home insurance coverage for an overseas residence as long as you currently have a home insurance coverage on your Hong Kong home. This is available from a select number of Hong Kong insurance providers.

The coverage under these policies must be the same for each property you are intending to insure, but will provide 3rd party liability protection (in the event of accidents to passerby's and unknown third parties) and comprehensive contents coverage for all your belongings.

Setting up a policy for an overseas domicile can be a fairly intensive process and will normally require you to provide extensive details on the overseas property you are intending to insure.

In our previous answer on Home Insurance outside of Hong Kong we detailed some of the information which you will be required to supply which will normally include:

  • Property Location
  • Current State of Repair of Property
  •  Property Type
  • Security Measures in Place
  • Length of annual occupation

It is important to note that while Thailand will normally be fine for coverage under a local Hong Kong home insurance plan (as long as you are also insuring your Hong Kong property), there are some geographical areas where coverage is not available through this multi-property insurance facility including the USA.

Should you have an additional questions regarding insurance for your Thailand Holiday Home, covering your Hong Kong home, or if you would like to receive a free quotation for your coverage needs, please Contact Us Today.

Answered on: 7 February, 2017 11:18


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