Home insurance policies -- Advice please?

Mamey says on Dec 1, 2008, 04:39:

Generally, the coverage is the usual, earthquakes, flooding, wind damage, theft etc. The insurer will want you to tell them what you want to insure the property for. (what the commercial value is) For example, if the property costs 200 million it will generally cost about 650k.cop for a year policy.

They also generally include, locksmith, plumbing and electrical emergency services for free.

Obviously, there's a lot of fine print. For example, a friend of ours plumbing flood damage was not covered because piping was older than 30 years. So make sure you ask and aware of the structural conditions of you property.

AIG, Suramericana, Colpatria and Mapfre are some that offer home insurance. I decided to go with Mapfre.

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Beachbros (☼Travelguide writer) says on Dec 1, 2008, 12:27:

Noelito40 says on Dec 1, 2008, 15:18:

I paid

1. about $480k (per annum) for insurance on an apartment worth $140million. (This is for the property structure i.e floods/earthquakes, etc) This included an extra in that if I need a plumber/electrician, any costs will be covered.
This was with a friend who is a broker. I'm in Bogota, if you want his contact details, PM me.

2. To insure against the tenant paying all utilities and administration, I paid a fee of 55% of the monthly rent (so works out at about 5% per month). This we did ourselves with Agricoles. (We didn't have a good experience with them, so on my next property I have conming on stream shortly, I'll be going elsewhere)

Hope this helps (there was another thread on this exact same question a few months go, so th search should yield more info)

Noelito

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Beachbros (☼Travelguide writer) says on Dec 2, 2008, 19:33: