Is it necessary to be either a temporary or a permanent resident of Mexico to have insurance on a house in Baja? I mean fire, flood and wind
insurance.
Thinking about buying a place here to spend a few months a year. I'd hate to have damage and find that the insurance company wouldn't settle because I
was here on a 180 day FMM.Justbozo - 3-6-2014 at 09:21 PM
My answer from experience is no.Alm - 3-7-2014 at 12:42 AM
Tourist owning a home in Mexico is a legal oddity. You are allowed to buy though. Since if you are allowed to buy, you are allowed to insure. If all
goes smooth in case of incident and insurance company pays, then no problem. If they don't pay, I am not sure whether you have any chance to sue them
and win, being a foreigner in their country.Udo - 3-7-2014 at 10:08 AM
Good luck in finding an insurance company that will insure at satisfactory prices without many exclusions.RnR - 3-7-2014 at 01:28 PM
Quote:
Originally posted by Udo
Good luck in finding an insurance company that will insure at satisfactory prices without many exclusions.
And one that covers theft without a deductible equal to the value of the insured items.....Gulliver - 3-7-2014 at 02:42 PM
I am looking for recommendations, both good and bad. Payoff speed not as important as reasonable premiums. More structure damage than things like
theft. Not leaving anything here worth stealing when we are North for the Summer. Hell, we don't own much worth stealing when we are here!
Mikemtnpop - 3-7-2014 at 04:02 PM
I guess everyone has maybe a different thought or experience...
In our case after Hurricane Jimena in 2009 we had a house insured and were here on a tourist visa were paid rather well...
Then in 2012 with Tropical Storm Paul I know several owners in our park with houses and only tourist visas were paid again..
I don't know what their rates were or are now... We are now on Permanent Resident with ours and the rate is right at $400 per year..
There are different deductibles and co insurance than in the states so you do loose some there but this last storm everyone I know were treated very
well and I mean very very well....
So our and our friends experiences have gone good for us...oladulce - 3-8-2014 at 11:12 AM
Gulliver, check your u2u-link at top of the page
Some years ago my house and five other houses....
CasaManzana - 3-8-2014 at 12:43 PM
.....suffered some wind damage during a hurricane. We were on La Playa Posada just south of Mulege and were all insured by Bancomer. My claim was
about $1500 USD for roof damage but several of the other houses were heavily damaged and with big claims. Bancomer denied all our claims saying the
damage was because our homes were not constructed properly. Our small-town attorney soon ran up against Bancomer's heavy-duty guys in the Monterrey
headquarters and that was that. Avoid Bancomer at all costs.divemulege - 3-8-2014 at 02:23 PM
It is a no brainer to get property insurance on your investment. GNP is a great company and pays their claims quick and a lot of times for more than
you claimed. Our house for $110k of coverage including covering fishing gear cost $301 per year.
