Home Property Insurance
Home insurance in Vietnam is highly recommended for tenant’s liability. Your property belonging is important but the main risk for tenants is most apartments, buildings or villas are not insured; which makes you liable to the owner or building management.
Home or apartment insurance are compulsory worldwide
Home insurance in Vietnam is highly recommended for tenant’s liability. Your property belonging is important but the main risk for tenants is most apartments, buildings or villas are not insured; which makes you liable to the owner or building management.
Home insurance is compulsory worldwide. What about Vietnam?
With more fire and floods in Vietnam, home insurance is required by property owners or building management for unfunded liabilities.
As an Expat relocating to Vietnam, you assume the house or apartment you rent is insured. As it is not compulsory in Vietnam, you are at risk of tenants liability claim in case of fire or damage to the house.
With increasing fire and flood risks, the population living in rented apartments and houses, the need to protect against damage liability to owners or neighbours for bodily injuries and property damage, reconstruction costs or replacements. The general practice or retaining the 3-month deposit proves insufficient and unhealthy for the relationship between owner and tenant.
The main benefits of home insurance
High coverage limits satisfy Inbound/ Outbound travel insurance requirements of most countries, including 26 Schengen Europe Countries Covers medical expenses incurred during travel due to illness or accident, including follow-up treatment in Vietnam up guaranteed worldwide.
- Fire, floods and natural disasters
- Property, equipment, decoration and fixtures
- Reconstruction costs
- 3rd party liability for bodily injuries to visitors
- Material damage to neighbours
- Family responsibility and legal fees
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