BlueSeas
8/16/2016 07:58 EST
Wondering if anyone could answer a couple questions about property insurance in Colombia related to apartments/condos as an owner.
1) Does the administration cost normally provide basic insurance for the building?
2) Is there a standardized policy for an Apartment owner? In the US coverages are pretty standardized, shopping based on cost and the financial rating of insurer.
3) Is liability insurance bundled in?
4) Anyone know an English speaking agent in Medellin?
Post a Reply
 0 0 abuse
|
|
bickmed
8/16/2016 09:05 EST
Each building is different I think, and they do have general building insurance policies. For eg, ours recently was change to include earthquake cover. Your administrator should be able to provide you with the details.
We have home and contents with SURA. It includes liability (responsibilidad civil) to 150 million pesos - you can up it or down it as you like. We have had to use our policy three times, and have been pleased with the service:
1) we forgot our keys; they sent a locksmith out.
2) our pipes broke and flooded our floor and down the walls of the apartment below causing damage. They came out promptly, and did the basic repairs. We had to chase them once or twice for follow up work - but in the end all damage repaired at SURA cost including the apartment below.
3) we flooded our bathroom to the bathroom below (well more of a drip). This was assessed however was deemed our fault for letting the grout between the tiles wear down. ie normal wear and tear.
Post a Reply
 0 0 abuse
|
|
|
|
ParadiseLost
8/16/2016 09:19 EST
We certainly have a general building insurance as well. Recently there was a flyer sent around saying that the policy needed renewing, what the cost was going to be and the coverage. As it was going to be an increase, rather than changing the monthly admin they were going to apply a surcharge over three months to capture it. I remember when I looked at the coverage it looked adequate.
I do wonder if people who have investment properties might miss information like this. Generally the gate passes the flyer to you as go in or out, or they push it under the door. In the year there's a fair amount of useful information - including the financial information on the buildings accounts that is sent ahead of the annual building meeting.
Do Admins email this sort of information for owners who are abroad?
Post a Reply
00abuse
|
|
BlueSeas
8/16/2016 09:47 EST
Thanks, I assumed the buildings would have to have basic coverage. Good to know I was right.
I got notified of the annual meeting by email. But that's the only communication so far.
Any English speaking agents?
I've was sort of told an attorney could set it up, but unless this is a cultural difference, don't see a need to pay an attorney for this task.
Post a Reply
00abuse
|
|
ParadiseLost
8/16/2016 10:19 EST
I've not aware of any english agents.
In terms of getting contents insurance if you're letting furnished property out for any portion of time that might make it a little harder.
Post a Reply
00abuse
|
|
canpandave
8/16/2016 10:27 EST
I just bought comprehensive insurance for my apartment, building $400million, contents 60 million, with Sura, pretty much everything is covered including mysterious disappearance and even damage to appliances
Annual premium was $2,070,000
Post a Reply
00abuse
|
|
|
|
BlueSeas
8/16/2016 10:28 EST
Thanks. A couple searches and it turns out Falabella sells insurance at Santa Fe and also at Homecenters. Have to see if we can muddle our way through it.
The furnishings issue is a good catch. I'd have to inquire about that even here. HO policies cover that, but not usually for rentals which are DP policies and exclude contents.
We can afford to self insure for that if necessary. Mainly want liability and catastrophic coverage.
Post a Reply
00abuse
|
|
|
|
canpandave
8/16/2016 10:34 EST
Here is the coverage:
Su vivienda estará protegida por los siguientes riesgos:
Edificio:
Desastres naturales
Terremoto
Incendio o explosiones
Daños por agua
Impacto o caída accidental de objetos
$400,000,000.00
Contents:
Desastres naturales
Terremoto
Incendio o explosiones
Daños por agua
Impacto o caída accidental de objetos
Actos mal intencionados de terceros y terrorismo
Robo o pérdida.
$60,000,000
As I mentioned premium was $2,070,000
Post a Reply
00abuse
|
|
canpandave
8/16/2016 10:35 EST
They have offices, I had the agent come to my apartment, like 5 times until I was satisfied....
Post a Reply
00abuse
|
|
|
|
ParadiseLost
8/16/2016 10:42 EST
Plenty of Sura offices in Medellin
This should help
http://www.sura.com/soluciones-personas/seguro-hogar.aspx
Offices listed under the Contactenos tab.
Post a Reply
00abuse
|
|
bickmed
8/16/2016 12:43 EST
We use a Sura agent called Adolfo, who is excellent. he comes to our home and goes through everything with us, and answers all our queries via WhatsApp if we have them - he only speaks Spanish though.
We did get quotes from an agent who spoke English once, but she was more expensive as she added her commission onto the top. My wife may have her details still (maybe) if you want to go down that route.
Post a Reply
00abuse
|
|
BlueSeas
8/16/2016 13:47 EST
Thanks everyone for the help. I have a place to start when we get there next month, and a rough estimate on the cost.
Post a Reply
00abuse
|
|
|
|
|
|
