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How to get a house insurance?
What companies are the best one?
How much does it cost?
What is covered and how does it work in CR?
Do you really need one?Had you done a simple search within this Discussion Forum you would have seen posts like:
“At the present time, INS – http://www.ins-cr.com/ – which is a private company, is the only choice for homeowner’s insurance.”
There will be more insurance companies offering their insurance products in Costa Rica later this year since this market is opening up but, at this moment in time, there is only one Costa Rica government monopoly offering insurance http://www.ins-cr.com/
Scott
[quote=”lavemder”]How to get a house insurance?
What companies are the best one?
How much does it cost?
What is covered and how does it work in CR?
Do you really need one?[/quote]As Scott says, presently there is only one choice = INS….however you do have choices (limited) within INS.
Option #1 – forget the “theft coverage” – they are too busy denying fraudulent claims to ever pay off on a real claim!
Option #2 – ask for a quote on “Fire and Natural Disaster Coverage” only. I believe option is the is the best way to go; however, a word of caution. You can choose whatever coverage you want on your house, but if INS comes out and “appraises” your house after a loss and determines that you have under valued your house, the they can proclaim that you “self insured” for the amount of under coverage – in other words, by under declaring the value you have, in essence, set a “deductible” by the amount (or percentage) that you under declared.
By way of example: Your constructed house is truly worth $400K US. You state the value as $300K US. You have a total loss. INS comes out, says “the real value of this house was $400K US, therefore you self insured for 25% of the loss”.
The same is true for a partial loss. If you have a fire and the damage is $100K Us, and you declared a value of $300K while the real value was $400K, then INS will declare that the first 25% of any loss will be your “deductible”.
Oh, and by the way….the INS coverage does not include contents or personal items!
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