In other words, the policies cover claims from events listed in the policy only. Distinguish this from homeowners insurance in other countries where its deemed covered unless specifically excluded in writing in the policy document. So, in Nicaragua you read a policy for what’s included.
Many Nicaragua insurance companies have designed a special policy for individual homes, which are called Incendio Hogar in Spanish.
Rates can vary between $4.00 to $3.00* per 1000 of insurance coverage.
Deductibles and policy benefits can also vary from company to another so its best to review pricing from all five Nicaraguan insurance companies.
All Nicaraguan insurance companies cover damages from the following under their homeowner’s policies.
- Fire, lightning, explosion
- Earthquakes, tremors, volcanic eruptions
- Tidal waves
- Hurricanes, tornados, high winds
- Labor strikes, student riots, looting
- Collision damage to your home by cars or aircraft (other than your own)
Optional coverage available includes contents insurance for personal belongings commonly found inside a house** as well as robbery insurance***
* Rates may be higher for houses directly on the beach or other locations viewed as risky by the Nicaraguan insurance companies.
** Except; gold, silver, jewelry, precious stones, furs, paper money, stock certificates, checks, stamps, commercial documents, and the catch all “rare objects of art or collectables”.
*** Though somewhat incredulously if no one is home when your house is robbed then Nicaragua theft insurance is invalid. If you leave your home alone, it is not covered, although that’s probably when you need the coverage the most.