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Is a policy from INS for flood, fire, wind, theft, liability available?
How are claims handled?
Any comments from an experienced homeowner?INS does offer homeowner’s insurance. Basically, the coverages are two: damage to the structure from earthquake, flood, fire, etc and loss of contents from theft. When I looked into this, I think I recall that the annual premium for coverage on the structure itself is about $250 per $100,000 of coverage. Contents are another matter.
First, in order to cover contents, all the windows in the house must have bars. Second, you must insure all contents of the house; you can’t do it selectively. Third, there is a substantial list of exclusions from the coverage that includes many of the high-value items that middle class homeowners would be likely to own and to wish to insure — and that thieves would be likely to target. Given these conditions, we’ve decided to take our chances with contents. And theft coverage is pretty expensive.
More information is available from the Association of Residents of Costa Rica.
Like model T’s, you can have any color you want…as long as it’s black. Telecommunications, Energy and Insurance are nationalized monopolies in CR. That said, the INS is one of the better ones. The ICE (telecommunications) is the worst.
If you have a house or car, you need insurance. The INS is the only game in town.
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