Property Insurance in The DR

reilleyp

Well-known member
Dec 12, 2006
910
398
83
This year I tried to get property insurance. I called someone several times, and they are still working on it, since they said they need to come and inspect the property. That was three months ago. I have since called several agencies that I found online and sent several messages and zero people called me back.
I have two questions;
Can someone recommend a responsive agent that can give me a price on a policy?
Second, has anyone on this forum who HAS insurance, actually experienced a fire, hurricane or earthquake damage claim, and had it paid out by the insurer, and was getting the payment from them difficult?
Thanks in advance.
 

melphis

Living my Dream
Apr 18, 2013
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Depending on where you are located I had a real good insurance guy in the PC/ Bavaro area. We where in a condo and just had content insurance. We asked about hurricane insurance it is quite complicated if you are in a condo. Less so if you are in a house.

The cost for hurricane insurance was approx $1,000USD for every $100,000USD you want insured. Example if you have a property that's worth 300k you would insure it for around 200 to 250 as the land will still be there after a hurricane so insuring it for $230,000 USD would cost you approx $2,300USD.

Now if you are in a condo and it had a complete disaster with total devastation everybody in the complex would have to have hurricane insurance. Example is if there are 50 units and only 5 of you have hurricane insurance how could you possibly rebuild when each of you only own 2% of the land. Especially if you are not ground floor. You would have to rebuild all the ones below you before you can build on a higher level. Secondly our guy told us that none of the insurance companies here could handle this type of a loss so they would have several insurance companies involved from the start to help absorb the costs in case of a total loss. Thirdly in all probability they will never pay out for a total loss due to a hurricane because that's the way it is.

Basically hurricane insurance here is a waste of money. Get content insurance, fire, theft, vandalism, 3rd person liability and the other common stuff but don't waste your money on hurricane insurance.

Let me know if you are in the PC/ Bavaro area and I will PM you my guys info.
 

reilleyp

Well-known member
Dec 12, 2006
910
398
83
Depending on where you are located I had a real good insurance guy in the PC/ Bavaro area. We where in a condo and just had content insurance. We asked about hurricane insurance it is quite complicated if you are in a condo. Less so if you are in a house.

The cost for hurricane insurance was approx $1,000USD for every $100,000USD you want insured. Example if you have a property that's worth 300k you would insure it for around 200 to 250 as the land will still be there after a hurricane so insuring it for $230,000 USD would cost you approx $2,300USD.

Now if you are in a condo and it had a complete disaster with total devastation everybody in the complex would have to have hurricane insurance. Example is if there are 50 units and only 5 of you have hurricane insurance how could you possibly rebuild when each of you only own 2% of the land. Especially if you are not ground floor. You would have to rebuild all the ones below you before you can build on a higher level. Secondly our guy told us that none of the insurance companies here could handle this type of a loss so they would have several insurance companies involved from the start to help absorb the costs in case of a total loss. Thirdly in all probability they will never pay out for a total loss due to a hurricane because that's the way it is.

Basically hurricane insurance here is a waste of money. Get content insurance, fire, theft, vandalism, 3rd person liability and the other common stuff but don't waste your money on hurricane insurance.

Let me know if you are in the PC/ Bavaro area and I will PM you my guys info.
All good info, thank you.
Please PM me the guy's contact info.
Did anyone actually ever file on claim on this forum? Did they pay?
 

MariaRubia

Well-known member
Jun 25, 2019
1,208
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Where are you based? I have a really excellent lady in the capital, handles all my insurance. I've claimed many times, she manages all aspects of the claim, every one has been settled without a glitch. I would have to check if she does anywhere outside the capital.
 
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JD Jones

Moderator - Covid 19 in DR & North Coast
Jan 7, 2016
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Where are you based? I have a really excellent lady in the capital, handles all my insurance. I've claimed many times, she manages all aspects of the claim, every one has been settled without a glitch. I would have to check if she does anywhere outside the capital.

Folks like her are worth their weight in gold. My guy is the same.
 
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malko

Campesino !! :)
Jan 12, 2013
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706
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Gives me shivers, thinking of house insurance.

I dont have any, a) because of the cost and b) because I dont trust them to pay out if need be.

I would like to know if other members are insured and for what, and also what type of property.

In our case, we have a free-standing house in the campo. No insurance for anything.
 

JD Jones

Moderator - Covid 19 in DR & North Coast
Jan 7, 2016
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If you have a solidly built 1 story block house with correctly installed wiring and shutters for the windows you're pretty much all set for the Armageddon.
 

MariaRubia

Well-known member
Jun 25, 2019
1,208
1,484
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Gives me shivers, thinking of house insurance.

I dont have any, a) because of the cost and b) because I dont trust them to pay out if need be.

I would like to know if other members are insured and for what, and also what type of property.

In our case, we have a free-standing house in the campo. No insurance for anything.

I have a lot of insurance. I have my windows insured under a separate policy as I'm close to the sea and if we are hit by a hurricane they would cost a fortune to replace. I have a lot of third-party compensation - like RD$ 20M - so that I'm covered in case of any chapiador neighbor disputes. And trust me that's come in very useful. And then the buildings I own are insured against the usual fire and theft and hurricanes and earthquakes. For apartments, I always go with the same insurance company that the building uses, so if anything happens we won't have a big debate about which policy is going to cover the claim as it all comes from the same company.

I have cover for AC's and TV's and electrical equipment against power spikes, this is really cheap (about US$100 a year for quite a lot of kit).

I was told that earthquakes are the biggest worry. A hurricane won't destroy a brick-built building, it will damage the contents but those are not going to result in a huge claim. But an earthquake will leave zilch, especially in a tower of apartments. That's the worst case scenario.
 

AlterEgo

Administrator
Staff member
Jan 9, 2009
21,500
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South Coast
Gives me shivers, thinking of house insurance.

I dont have any, a) because of the cost and b) because I dont trust them to pay out if need be.

I would like to know if other members are insured and for what, and also what type of property.

In our case, we have a free-standing house in the campo. No insurance for anything.
We mirror you. Free standing campo house. We do have an alarm system (Mr AE believes that’s why we can leave it alone for extended periods, everyone knows we have it. Not that it means anything, it’s not monitored like in the US. Except for monthly visits by brother to pay the caretakers and guy who feeds the dogs, and clean it, it’s been empty this time since march 2020). No insurance except for the car.
 
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reilleyp

Well-known member
Dec 12, 2006
910
398
83
Where are you based? I have a really excellent lady in the capital, handles all my insurance. I've claimed many times, she manages all aspects of the claim, every one has been settled without a glitch. I would have to check if she does anywhere outside the capital.
Samaná. Please ask her.