Insurance

It depends on what is written in your policy. You are correct, Natural Disaster damage is normally not paid unless there are specific riders attached to the policy. You can probably expect to pick up about 50% of the repair bill even if you have a policy in effect.

I live by the beach in Florida (Gulf of Mexico) when not in Cortecito, and the Florida insurance companies have managed to write policies (approved by the state regulators) which have so many loopholes for non-payment of claims. I ended up paying myself to remove about 20 pines which had grown upwards to 50 feet, so that a tornado would not come thru tearing off the tops and throwing them throughout the neighborhood.

One other consideration is the time it take to get you house repaired and how will you protect the contents until repairs are complete.

I do not have much good to say about insurance companies or government regulators who approve policies which rip-off consumers, so I'll leave it at what I have written above. Don

I'm close to opting out myself. Just trying to figure out how to insure my personal stuff inside before I cut bait

Florida has a "Named Storm" 5% deductible for wind damage. Our home owners insurance in Texas is 30% of our cost for the same coverage just outside of Tampa.
Of course that 5% deductible in Florida might become less each month as your home value declines.

~I have my coverage for my DR property with a local company there called Mapfre, they were only one of two that covered Liablity as well as comprehensive coverages for property damages. We needed the coverage for liability in the event that a tenant was hurt etc. I am covered for the following at varying deductables, however covered nonetheless:
Incendio-Fire
Terremoto-Earthquake
Inundacion Y/O Ras De Mar- Flood
Danos Por Aqua Huracon-Water damage from Hurricane
Huracan-Hurricane
Explosion
Motin Danos Maliciosos-Malicious damages from riots
Danos Aqua accidental- accidental water damage
Danos por humo-Smoke damage
Danos Naves Aer Y Terr/: need the translation on this one something with ships and terrisom???
Combustion espontanea: spontanous combustion
Remocion De Escombros: removal of debris
Granizo: Hail damage
Colapso Y/O derrumbe: Collaspe
Robo De Contenido: Contents Theft
Asistencia Domiciliaria: Home Care
Inhabitabitidad De La Vivienda: Temporary Housing
Perdida De Alquiler: Loss of Rent
Danos Esteticos: Cosmetic damages
Reconstruccion Documentos: Document reconstruction
Gastos De Extincion: Supression Costs

And then there is numerous coverages for the Liablity end as well that range from Armed Survallance, accidental death, dismemeberment, legal defense, pets, tenants, property and operations personal.

So in the nutshell we are pretty well rounded and covered.....that is until something happens....I have heard that it is very very difficult to file claims and have them paid out....but I suppose its like that anyplace, not just the DR....no insurance companies want to pay out anything, however they will drop you like a hot potatoe if you do not pay you premiums timely....

Hope this helps....if you need further information pls pm me...:bunny:

I have similar cover to jrjrth, but consider it rather an expensive act of optimism. Imagine if there were a real serious earthquake and what would be the chances of getting anything out of them!

jrjrth said:

Danos Naves Aer Y Terr/: need the translation on this one something with ships and terrisom???

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In simple words, coverage in case an airplane or a truck hits your house.

jrjrth said:

Granizo: Hail damage

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seriously, what are the chances of THAT?
do they offer coverage agaist apocalipsis?

I have heard that Mapfre is one of thr better companies in the sense that they pay claims rapidly. I also hear they are the most expensive!

dv8 said:

seriously, what are the chances of THAT?
do they offer coverage agaist apocalipsis?

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~DV8 It has been known to Hail during hurricanes and violant thunderstorms, so its not unheard of....:speechles

hail is not unheard of in these parts. i have seen it many times

gandolf50 said:

I have heard that Mapfre is one of thr better companies in the sense that they pay claims rapidly. I also hear they are the most expensive!

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Mapfre was not the most expensive that I quoted with, there was another company more expensive and subpare coverages to boot, the name escapes me at the moment though....

I would certainly NOT sleep any better knowing that my losses would "supposedly" be covered by a Dominican ins. co.!
Paying an insured claim here would go against the Dominican "LAW",..."Never give any service/ goods once you have the clients money!!!!!"

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sharkstooth777 said:

I live by the beach in Florida (Gulf of Mexico) when not in Cortecito, and the Florida insurance companies have managed to write policies (approved by the state regulators) which have so many loopholes for non-payment of claims. I ended up paying myself to remove about 20 pines which had grown upwards to 50 feet, so that a tornado would not come thru tearing off the tops and throwing them throughout the neighborhood.

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I never heard of a property owner's policy paying for prevention.

Originally Posted by sharkstooth777
I live by the beach in Florida (Gulf of Mexico) when not in Cortecito, and the Florida insurance companies have managed to write policies (approved by the state regulators) which have so many loopholes for non-payment of claims. I ended up paying myself to remove about 20 pines which had grown upwards to 50 feet, so that a tornado would not come thru tearing off the tops and throwing them throughout the neighborhood.

wuarhat said:

I never heard of a property owner's policy paying for prevention.

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~ He paid to have the trees removed from his property so he did not have a Liability from his property resulting in damages to others~ It was CASH out of his pocket....not the insurance companies paying for prevention of damage....

i am,"SELF ASSURED"!
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