Earthquake Insurance

I have bought Insurance on my place in Colombia. The premium was equal % wise as my USA home insurance. I used Suramerica which is the best company in Colombia. The insurance covers terrorist, earthquakes, bombs, water damage etc.. Anyway the reason I bought it was because I don't want to wake up one morning and see on the news something like what just happened in Peru. My mother in law and friends in Colombia think I was being parinoid etc.. Why do you want insurance? All I said is if my apartment building crumbles then what am I left with? So I bought it. I just don't understand that mind frame in Colombia. People work all their lives to buy a house and then don't insure it??

By Brians on Aug 16, 2007, 05:56 in Friendly Talkzone.

Brians says on Aug 16, 2007, 06:15:

Medellin. My place cost $400,000,000 and my coverage cost only $900,000 a year. I guess I could shop for a little better like $800,000 but I wanted the best company and feel Suramerica was the strongest credit.

0 funny, 0 helpful.

Frank Rizzo says on Aug 16, 2007, 06:33:

I think i'm gonna call on this today too. Hawaii gets hit by a quake, then Peru...ugggg

0 funny, 0 helpful.

Frank Rizzo says on Aug 16, 2007, 07:05:

GIB that made me think...so i found a link on the plates. It looks like there is a Pacific plate where Hawaii is and a smaller Nazca plate bumping South America...it's interesting, check it out here. http://www.platetectonics.com/book/page_2.asp

0 funny, 0 helpful.

Gator says on Aug 16, 2007, 07:27:

When people debate home insurance in Colombia I am reminded what an old Wild West sheriff said when asked about needing his six-shooter. "Well," the sheriff said. "I might not ever need it but when I do I'll need it bad."

"Brevior Sltare Cum Deformibus Mulieribus Est Vita!" .

0 funny, 0 helpful.

Frank Rizzo says on Aug 16, 2007, 07:31:

You're not kidding Gator. In Cali it's an apto. that we pay monthly administration on that i'm concerned about. The admin. is supposed to have some type of coverage, but i'm not sure how far that is.

0 funny, 0 helpful.

tomtom33 says on Aug 16, 2007, 07:37:

I can tell you that my building in Cartagena has no insurance whatsoever. My insurance covers my losses. However, I am not sure how it covers me as a part-owner of a damaged building or if it covers my part of the building liability.

0 funny, 0 helpful.