# Homeowners insurance



## Zorro2017 (Jan 9, 2017)

It's time to renew our policy. We have been using AXA but have never had to file a claim. Does anyone have any experience with this or another company? The rates are acceptable. Our roof is aluminum so a lot of companies on the internet won't cover a metal roof.


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## Bobbyb (Mar 9, 2014)

I do not have actual claims experience. That is a good thing!! But we are currently using Mapfre. I want to find another provider as they are very expensive. Rats go up at least 10% every year. The policy reminds me of one from NOB. It is in Spanish. Covers lots of things: hurricanes, electrical faults,glass. Our previous underwriter had a million escape clauses. I cannot vouch for the following: I have been told tha Mapfe is one of the best. Others are always looking for excuses to not pay. I think it all depends on your house and the contents. If you have lots of electronics, high end appliances and other goodies then you would need a policy with lots of coverage. If your lifestyle is simple maybe a basic policy is OK. I do not trust most Mexican insurers !


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## TundraGreen (Jul 15, 2010)

Bobbyb said:


> I do not have actual claims experience. That is a good thing!! But we are currently using Mapfre. I want to find another provider as they are very expensive. Rats go up at least 10% every year. The policy reminds me of one from NOB. It is in Spanish. Covers lots of things: hurricanes, electrical faults,glass. Our previous underwriter had a million escape clauses. I cannot vouch for the following: I have been told tha Mapfe is one of the best. Others are always looking for excuses to not pay. I think it all depends on your house and the contents. If you have lots of electronics, high end appliances and other goodies then you would need a policy with lots of coverage. If your lifestyle is simple maybe a basic policy is OK. I do not trust most Mexican insurers !


I don't insure my house in Mexico. In my opinion the primary risks in the US are fire and liability. With an adobe house in Mexico, fire is not a risk and Mexico does not have the tort system that makes liability a big risk as it is in the US. As far as theft goes, I don't have much that is worth stealing, just a couple of computers. If they are stolen, I just plan to replace them with a new model.


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## Zorro2017 (Jan 9, 2017)

TundraGreen said:


> I don't insure my house in Mexico. In my opinion the primary risks in the US are fire and liability. With an adobe house in Mexico, fire is not a risk and Mexico does not have the tort system that makes liability a big risk as it is in the US. As far as theft goes, I don't have much that is worth stealing, just a couple of computers. If they are stolen, I just plan to replace them with a new model.


Fire no, earthquake yes. This is my home and I sleep better at night when we leave and spend a few days away.


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## horseshoe846 (Feb 8, 2017)

TundraGreen said:


> I don't insure my house in Mexico. In my opinion the primary risks in the US are fire and liability. With an adobe house in Mexico, fire is not a risk and Mexico does not have the tort system that makes liability a big risk as it is in the US. As far as theft goes, I don't have much that is worth stealing, just a couple of computers. If they are stolen, I just plan to replace them with a new model.


We insure our 2 cars and house via AXA. All three policies were purchased through our Premier Rep at HSBC - and we received a 10% discount on each policy. Our home owners policy costs $840 USD and hasn't changed in 2 years. That is a fraction of what our property is worth - and certainly much much less than someone would pay in say Florida - where if you have a mortgage (luckily we were self insured) you would have to carry homeowners + windstorm + flood. 

But I think the main reason we purchased the policy on the house was in case a worker fell off a ladder (or similar). We have lots of thermal glass - and tons of wood - and 2 fireplaces...


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## josekoko (May 25, 2017)

horseshoe846 said:


> We insure our 2 cars and house via AXA. All three policies were purchased through our Premier Rep at HSBC - and we received a 10% discount on each policy. Our home owners policy costs $840 USD and hasn't changed in 2 years. That is a fraction of what our property is worth - and certainly much much less than someone would pay in say Florida - where if you have a mortgage (luckily we were self insured) you would have to carry homeowners + windstorm + flood.
> 
> But I think the main reason we purchased the policy on the house was in case a worker fell off a ladder (or similar). We have lots of thermal glass - and tons of wood - and 2 fireplaces...


This reminds me why I'm so glad I sold my house in Seattle and later, the one on the Hood Canal. It's a lot of work to take care of a house - as a single guy who isn't rich (and probably for a single woman, too, especially with kids). I don't know how people do it. I have had to sell two homes because I couldn't afford the stress and/or expense! 
I like renting - never thought I'd say that, but the thing I hated most about ownership were the constant repairs, the utility bills (which are pretty good in Mexico, I've heard, save electricity) and insurance. 
I highly DO NOT RECOMMEND Qbe/Unigard. Don't know if they're down there, but they are the worst, up here. Pemco was good. 
I want someone else to think of everything else....I'm tired of being hyper-responsible.


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## surabi (Jan 1, 2017)

TundraGreen said:


> I don't insure my house in Mexico. In my opinion the primary risks in the US are fire and liability. With an adobe house in Mexico, fire is not a risk and Mexico does not have the tort system that makes liability a big risk as it is in the US. As far as theft goes, I don't have much that is worth stealing, just a couple of computers. If they are stolen, I just plan to replace them with a new model.


Same here- I don't live in a major earthquake-prone zone, and I don't have any palapas to blow away in a hurricane (plus I live a couple kilometers from the beach, with a big hill in the way), just a solid cement house. My house is virtually impossible for a thief to get into, and, no, I don't have security cameras or security lights or a security system or a giant wall around my place with heavy iron doors with multiple locks, or any of that. Any needed repairs from the above natural disasters (maybe my roof tiles would blow off and break) would probably end up costing less than the deductible on the insurance.


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## horseshoe846 (Feb 8, 2017)

josekoko said:


> This reminds me why I'm so glad I sold my house in Seattle and later, the one on the Hood Canal. It's a lot of work to take care of a house - as a single guy who isn't rich (and probably for a single woman, too, especially with kids). I don't know how people do it. I have had to sell two homes because I couldn't afford the stress and/or expense!
> I like renting - never thought I'd say that, but the thing I hated most about ownership were the constant repairs, the utility bills (which are pretty good in Mexico, I've heard, save electricity) and insurance.
> I highly DO NOT RECOMMEND Qbe/Unigard. Don't know if they're down there, but they are the worst, up here. Pemco was good.
> I want someone else to think of everything else....I'm tired of being hyper-responsible.


I don't think we would ever rent. We did the first 2 years of our marriage and saved to buy a small town home. We had a 10 year fixed rate mortgage which we paid off in 2 years. For the last 30 years we have paid cash for everything. We did rent the first year in Mexico. To me - renting is like flushing money down the drain. We never made a fortune on real-estate but we did get our money out.

For the most part my wife and I take care of the house ourselves. She cleans the house while I mow the lawn and sweep the pool. I do have some gardeners who come by every other week for a few hours - they do the things I can't handle myself.
For many years we had a boat. It cost us a fortune, and was a lot of work/responsibility - but we loved it - and don't regret it at all. At some point I would like to find a condo on a beach some where.


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## Zorro2017 (Jan 9, 2017)

We are exploring getting our transformer covered under insurance as in today's dollars it would cost $4,713.00 in USD.


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## horseshoe846 (Feb 8, 2017)

Zorro2017 said:


> We are exploring getting our transformer covered under insurance as in today's dollars it would cost $4,713.00 in USD.


We have a 10 panel PV system that cost at least twice that amount - but there is no specific mention of it in the policy. In fact as I recall the only questions asked were - do you have 24 X 7 security and do you have an alarm system in the house - both of which were true for us. Regarding the home insurance - no one from the insurance company has ever been here. Now - we have had auto insurance people stop by unannounced to confirm we live where we said we do.


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## Zorro2017 (Jan 9, 2017)

horseshoe846 said:


> We have a 10 panel PV system that cost at least twice that amount - but there is no specific mention of it in the policy. In fact as I recall the only questions asked were - do you have 24 X 7 security and do you have an alarm system in the house - both of which were true for us. Regarding the home insurance - no one from the insurance company has ever been here. Now - we have had auto insurance people stop by unannounced to confirm we live where we said we do.


If by a 10 panel PV system you are referring to a solar grid that is a different animal. If it is located on the roof and the roof collapses due to a earthquake, I'd say yes it's covered... maybe.

The transformer is mounted on a pole inside of our wall and property, we had to buy both of them so we want insurance if we can get it. But it is not a "normal" outbuilding in any sense. One agent said that yes it was covered so we asked for it to be written on the policy. That is when he said he would "get back to us." which he never did.

BBVA Bancomer sells insurance and the person at the desk said no, no one would cover it but he was a bank employee.

People have purchased insurance on boobs and legs, a transformer should be able to be insured, just have to keep looking I guess.


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