San Miguel de Allende is a charming town with a rich cultural heritage and a welcoming populace that will make you feel at home. Whether you are looking to buy a home to live in or rent out, the market in San Miguel de Allende is very dynamic. And, for one of Mexico’s most sought-after tourist destinations, housing prices are actually quite forgiving.
Whether you’re an expatriate or a local from Mexico, having a home or condo in San Miguel de Allende or elsewhere in Mexico, you will want more than just fancy décor and stunning views from the window. You will also want a good Mexico home/condo insurance policy to secure your investment.
If you are unsure how Mexican Insurance can benefit you, consider these five reasons why you need coverage for your home or condo in San Miguel de Allende, Mexico.
1. Protect yourself financially.
One of the biggest reasons to get Mexican home/condo insurance is to protect yourself financially. Depending on the location of your property in Mexico will determine what coverages matter the most to you. Nonetheless, the basic protection of a Mexico home & condo policy are worth buying such as these important coverages. Fire, Theft, Glass Breakage, 3rd party Liability, and if you are in a Hurricane or Earthquake zone then these catastrophic coverages are also available to purchase.
Also, if you rent out your property while you are not in San Miguel de Allende, it is even more critical to shelter yourself from liability concerns, for example if one of your tenants is injured and your home is found at fault for the injury. It is important to know that West Coast Global Insurance Services now offers a Global Jurisdiction Liability Insurance for rental properties in Mexico. Providing peace of mind for their clients in Mexico since 2004.
On the other hand, if your home or condo causes damage to someone else’s property, you will count on the 3rd party liability insurance included on your Mexico home and Condo Insurance policy. For example, if a water line in your home bursts and floods your neighbor’s home, you could be held personally liable for the damage, which your Mexican home/condo insurance would cover.
2. Protect yourself financially.
Personal belongings stolen from inside your home or condo with forced entry are covered by burglary coverage, which is a covered peril of your Mexican home/condo insurance policy. This type of coverage is particularly useful if you possess valuable jewelry or artwork or electronic equipment that would be too expensive to replace if stolen. Be sure to review your policy conditions and list any extra ordinary personal belongings that you want to be sure you have coverage for.
3. Get comprehensive Mexico insurance protection.
“All risks” coverage in your Mexican home/condo insurance provides replacement value coverage for a home or condo that has been destroyed by fire, lightning, explosion, vandalism, and other unforeseen disasters. These perils would be expressly stated in your policy’s terms and conditions furthermore, liability coverage is required since it shields you from serious bodily injury and property damage caused to others while they are on your property.
4. Protect your investment from volcanic eruptions and earthquakes.
Your home in Mexico is an asset that you should protect against extreme weather events such as tropical storms and hurricanes, as well as volcanic eruptions and earthquakes. The Michoacán–Guanajuato volcanic field is located in central Mexico’s states of Michoacán and Guanajuato. If you own a home or condo in San Miguel de Allende, you should get Mexican home/condo insurance that covers damage from volcanoes.
On top of that, the Trans-Mexican Volcanic Belt runs across San Miguel de Allende, which means your home or condo could be destroyed by an earthquake at some time, necessitating costly repairs. These damages are covered under earthquake coverage.
5. Your HOA insurance policy in Mexico is not enough.
Get Your Mexico Home & Condo Insurance Quote Today!
If you plan to buy a home or condo in San Miguel de Allende, or already own in this beautiful part of Mexico now, West Coast Global Insurance Services has made it easy to protect yourself from the unexpected. Please click this link to learn more. Fill out their Mexico Home & Condo Insurance Online Application to get a quote for the best protection for your most valuable asset in Mexico.