Individual homes and condominiums can be insured in Nicaragua with one of the five (5) local insurance companies.

Until recently home insurance in Nicaragua was written on a named peril basis. In other words, the insurance policies covered claims from events listed or named in the policy.

Now, however, some home insurance in Nicaragua or condo policies are issued on an “All Risk Basis” and cover claims from hazards not explicitly excluded in the policy.

Subject to deductibles and coinsurance, all Nicaraguan insurance policies  cover damages from the following:

• Fire, lightning, explosion
• Earthquakes, tremors, volcanic eruptions
• Tidal waves, Tsunamis
• Hurricanes, heavy rains, tornados, high winds
• Labor strikes, student riots, and looting due to natural disasters
• Collision damage to your home by cars (other than your own), aircraft or falling objects
• Flooding

Optional coverage available includes contents insurance and forced robbery coverage are available.

These options are for personal belongings and appliances commonly found inside a house, so if you have a $14,000 Sub-Zero brand refrigerator in your kitchen, that needs to be mentioned explicitly in the insurance policy to be covered.

Types of property always excluded from Nicaraguan homeowners insurance policies are the same as found in the U.S. or Canada, i.e., gold, silver, jewelry, precious stones, paper money, stock certificates, checks, stamps, commercial documents, and the catch-all “rare objects of art or collectibles.”