What is Mexican Home Insurance?

A Type of Multiple Line Coverage

Home insurance is also known as homeowners insurance; sometimes referred to by the abbreviation, HOI. It is a type of property insurance which protects owners and lienholders of private homes from loss of the home, or liability for accidents that may happen there. Because it includes both property and liability coverage, it is a type of multiple line coverage, paid with a single premium. Many Mexican home insurance policies specifically exclude damage from hydrometeorological phenomema, such as flooding, or earthquake. Mariners Insurance Mexico policies do not exclude these risks, but instead offer this coverage in Mexico for an additional fee.

Your Homeowners Insurance Policy

Your Mariners Mexico™ homeowner's policy comes with an English language policy translation. An insurance policy, in the case of home insurance, is a contract between an insurance company and a home owner. The contract requires the home owner to pay a premium for coverage over a specified term. The contract requires the insurance company to reimburse the homeowner, up to the policy limit, for losses covered by the policy.

Named-Risk versus All-Risk Coverage

When it comes to insured losses, policies may be written on a named-risk (or named perils) basis or on an all-risk basis. Named-risk policies cover only those losses specifically described in the policy; all-risk policies offer broader coverage. Mariners Mexico™ offers all-risk home insurance for condos, townhomes, and free-standing houses in Mexico.

Naming a Lender on an Insurance Policy

It is common practice to secure the interest of a lienholder of a property by naming the lienholder as a beneficiary of the policy. In the event the real property securing the loan is completely lost, this enables the lender to recover capital instead of writing it off. Mariners Insurance Mexico home insurance policies protect both the buyer's investment and lender security in the event of total loss. For insured condos, these policies pay you the money to buy a new condo with the same characteristics, subject to deductible and coinsurance of catastrophic coverage.

Insurance for Mexican homes –
like yours!

Mexican Home Insurance for All States in Mexico

We can provide insurance for properties throughout Mexico, with year-round coverage for condos, townhomes, townhouses, and free-standing homes. Our polices are underwritten by GMX Seguros.

Home insurance for properties in every state in Mexico