House Insurance - Do Most have it?

twhitehead

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Nov 1, 2003
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Just wondering if most indivduals purchase house insurance on their villas in the DR. I currently have a policy through Segurlos Popular which covers hurricane, fire, earthquak, flooding. Gives 100k US $ coverage with 10% deductable for a cost of about $900 US per year. Villa is located on North coast between Cabarette and Sosua. Trying to figure out if it is worth the cost.

Also for those who do have home insurance, have you ever made a claim? Was it a simple process to make the claim and did it pay out as you thought it should?

Any advice on this would be great. Thank you all for your input...Tom
 

A.J.

New member
Jan 2, 2002
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Yes we have it and yes it was easy to make a claim when our house was robbed.

I would not go without it, even though we have never been hit by a hurricane or tropical storm where it caused damage, and the earthquakes have not caused any structural damage.


There is no FEMA in the DR.
 

Armina

New member
Aug 12, 2003
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Yes we have it and yes it was easy to make a claim when our house was robbed. Collected exactly what our loss amounted to, that took a while but did collect. Would not go without it at this time anyway.
 

Marcus

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Mar 13, 2002
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Insurance

I need to do the same for the things inside my apartment. What company are you using?
 

Simon & Nicky

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Feb 3, 2004
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www.simon-hall.co.uk
Yes we have it

Our policy paid out thousands for tropical storm / hurricane damage last year. The insurance company wriggled a bit but Angie Wolff at EPS steered the whole process from start to finish and did a superb job. I would not go without.
 

POP Bad Boy

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Jun 27, 2004
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Don't forget..................

.............there is no "personal liability" on a homeowner policy in the DR.....at least not with Monumental. I have a separate liability policy on all properties in addition to the "dwelling" coverage. Almost everyone I have ever talked too have not had liability coverage and then have ended up getting it in addition. It's not a lot of money, ........but then again, it's not alot of $$$$ coverage either.

More "precedent" lawsuits are being made in the DR where you can be liable.
 

A.J.

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Jan 2, 2002
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We use a guy out of Santiago - there are a few people in Puerto Plata who use him, he has no problem coming to see you. He also speaks english.

GAMAL NAZER DABAS & ASOCS.
Calle Benito Ju?rez Esq. C/ 5. 2da. Planta ,Villa Olga, Santiago, R. D.
Tel?fono: 971-7330 / 583-3280
Fax: 583-3279
Email: ganada@tricom.net
 

NYerinDR

Member
Jan 9, 2004
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I had the same policy from that company for our villa for 1 year about 2 years ago, and my cost is around $1600 for 160K US$ coverage with 10% deductible. But that does not cover any personal items. Our villa is located in a gated and very safe area. I drop the policy after one year for the following 2 reasons;

1. The house is build with concrete, and I can replace almost everything inside the house if it ever caught fire. There is little or no Hurricane in the north cost, and the house had no damage after the earthquake and the tropical storm.

2. I am up in the mountain, and have little or not chance to get flooded.

We were the first house in the community to have insurance, and I understand why I don?t really need it after one year.

If you are near the water and concern about being robbed, it is better to have the insurance. If none of the above is a factor, go without, and save some money.
 

twhitehead

Bronze
Nov 1, 2003
618
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NYerinDR said:
I had the same policy from that company for our villa for 1 year about 2 years ago, and my cost is around $1600 for 160K US$ coverage with 10% deductible. But that does not cover any personal items. Our villa is located in a gated and very safe area. I drop the policy after one year for the following 2 reasons;

1. The house is build with concrete, and I can replace almost everything inside the house if it ever caught fire. There is little or no Hurricane in the north cost, and the house had no damage after the earthquake and the tropical storm.

2. I am up in the mountain, and have little or not chance to get flooded.

We were the first house in the community to have insurance, and I understand why I don?t really need it after one year.

If you are near the water and concern about being robbed, it is better to have the insurance. If none of the above is a factor, go without, and save some money.


I fit the bill for both your points and this was why I was asking the question. The flooding and hurricane possibilities are fairly small, fire - concrete won't burn. Theft - that is another issue.
 

twhitehead

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Nov 1, 2003
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Simon & Nicky said:
Our policy paid out thousands for tropical storm / hurricane damage last year. The insurance company wriggled a bit but Angie Wolff at EPS steered the whole process from start to finish and did a superb job. I would not go without.
This is who I am with as well. Was your coverage through Suguros Popular? 10% decuctible? Thanksfor the help
 

Marcus

New member
Mar 13, 2002
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Santo Domingo Ins Cos.

What about companies/contacts in the Santo Domingo area. Anyone have any good recommendations?

My main concern is to find coverage for theft of personal things since I don't own my apartment.

I also agree it is probably not worth the money to have flood and fire insurance if you don't have a great deal invested inside your home.

Thx.