House and Renters Insurance in Ecuador is very similar to the United States. The rate will vary based on the value of the house and/or contents, the location, security features such as cameras, alarm system, security guards, etc.
House Insurance in Ecuador
Homeowners insurance in Ecuador typically covers things like fire, theft, natural disasters, civil liability, etc.
The rate is based on the value of the structure and contents, but does not include the cost of the land. The purchase price may have been $300,000, but the premium will be based on that amount minus the assessed value of the land.
For a $200,000 house structure value, you can expect to pay roughly $460/year for the structure only. If the value of the contents is estimated at $40,000, you can expect to pay an additional $370/year to cover the contents only. So the total cost would be $830 per year to cover the structure and contents.
Renters Insurance in Ecuador
Since most apartment and condo buildings carry their own structure insurance, you may only need renters insurance to cover the cost of your contents.
If the value of the contents is estimated at $10,000, you can expect to pay roughly $140/year. For $20,000 in coverage, you can expect to pay roughly $210/year.
If you would like to get a homeowners or renters insurance quote from Carlos Ramírez, you can reach him directly through his website at BlueBoxInsurance.com.
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