Homeowner's Insurance

[CAROL WILLIAMS]

We are planning to relocate next October to Costa Rica. Does Costa Rica offer Homeowner’s insurance or Renter’s insurance to cover home contents?

[JASON HOLLAND]

Hi Carol,

As far as insurance there is one company available: Instituto Nacional de Seguros, known as INS. They offer homeowners insurance, which can also cover the contents of the house. As far as renter’s insurance I don’t believe there are any options for renters.

Jason

[JOHN WHEELER]

Is homeowners insurance in Costa Rica a forgotten cause? Risk too high to insure? Does INS have a agent in Costa Rica? And what is their rates? Deductibles? Worth considering if they are the only show in town? That throws everything up in the air. Must everyone consider their home a total risk? How about Loyds of London? I thought they would insure anything in the world for their price.

Thanks for any input,
John

[JASON HOLLAND]

INS, though basically a monopoly, gets good marks as an insurance company. Homeowner policies are relatively cheap. To insure against damage to the home from natural disasters, fire, etc., you’ll pay less than 1% of the estimated cost of rebuilding the home as the premium. For theft insurance, you’ll pay about 1% of the value of the goods insured.

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