Secure your property to an atmospheric event

We are at the peak of the season of storms and hurricanes, and with the recent passage of Hurricane Irma and Maria and the consequences of them, we remember the need to know the insurance policies that protect our residence against casualties, hurricanes, Earthquakes and fires, as well as flooding policies in the areas it applies.

There are different insurance policies that protect our property. The one that all property has is the claims policy. As part of the requirements when you mortgaged your property, the claims policy protects you and the financial institution with which you made the transaction. This policy covers fires, earthquakes and hurricanes. (Vandalism cover item is optional and additional). The flood policy is mandatory for any property mortgage in floodable areas. These two policies are required for all mortgage transactions.

There are packages-type policies, with which you can protect personal property. All policies have cover and deductible limits. These indicate how long, how and how much the policy will respond to you.

The most important thing with regard to an eventuality like this type of recent atmospheric events is that your property is safe, that you have exercised prudence, with protections, shutters, that you have safeguarded your property and your important belongings, because It's part of your policy.

Reviewing the policy to cover new structures, facilities, and improvements added to the home is extremely important. If you did not check them, it is very likely that these improvements are not covered. That policy you took on the closing day, be sure to check it periodically to cover the changes in your home.

It is important to know that if for any reason, within your mortgage you are not making your regular monthly payment or if you are not accumulating in your reservation for insurance, the bank will place an insurance in a forced manner to protect you like the collateral of the bank. This policy is your responsibility to pay at the time because your monthly payment and levels of reservation will be affected. In case of an event that affects your home, if your property has a forced policy, it is covered.