Homeowners, Condo, and Renters Insurance

Customized Solutions. Superior Protection.

Unexpected events are part of life. But that doesn’t mean you have to leave yourself exposed to the financial damage these types of perils can cause you to incur. With a good homeowners, condo, or renters insurance policy and adequate personal property coverage, you can safeguard the things you’ve worked hard to acquire — and the belongings that mean the most to you.

At Caribbean Risk Group, we provide customized solutions so you can have peace of mind knowing you have protection for your personal property at the time you need it the most.

Tailored Homeowners Insurance Policies

Preparing your home and property for a storm by boarding up your windows and tying down loose items isn’t always enough. With the tropical weather risks in the Caribbean, you can’t afford not to be proactive and protect your home with a solid homeowners insurance policy. Hurricanes, earthquakes, and flooding are all common natural disasters that regularly occur throughout the islands which can cause substantial damage — structurally and financially.

For most people, their home is the biggest investment they will ever make. Homeowners insurance can cover the costs of repairing or rebuilding your home if it is damaged by any of the events specified in your policy. However, even if your homeowners insurance policy includes damage from hurricanes, it might not cover the destruction that can arise from flooding or storm surge in connection with the hurricane. Unfortunately, far too many people only discover that their insurance policy isn’t sufficient for their needs when it is too late.

Homeowners insurance doesn’t only protect you now. It provides you with the confidence that your future is protected. At Caribbean Risk Group, we will guide you to ensure you have the proper coverage necessary for your home. We are committed to working closely beside our clients to explain their options and help them understand how much coverage they will need to be secure.

Condo and Renters Insurance Coverage to Fit Your Needs

Owning a condo or renting a property are popular options for those who live in the Caribbean or spend time there. However, if you live in a condo or rental unit, you should not have a false sense of security that the HOA or your landlord will pay for the costs of any property damage that could arise. Similar to homeowners insurance, condo and renters insurance help to cover property losses caused by unanticipated circumstances such as theft, storms, fires, and even injuries sustained by guests in your unit. It can also pay for the expense of staying at a hotel should your condo or rental be damaged to the point you cannot live there while repairs are being made.

Condo and renters insurance can be highly nuanced and it’s crucial to know exactly what your policy covers. Importantly, these types of policies are not one size fits all. Whether you own a condo or rent, Caribbean Risk Group can create a custom-tailored policy to fit your situation.

Protecting Your Belongings with Personal Property Coverage

Personal property insurance can help to cover the costs of repairing or replacing personal items if they are destroyed or damaged in a covered loss. It is often included as part of a homeowner’s insurance policy and can be used to protect things like clothing, furniture, electronics, instruments, appliances, books, jewelry, tools, sporting equipment, and computers. Although there is a broad range of property that can be covered, the average policy limit can range from 50-70% of your home’s value.

If you live in a rental unit or condo, you may be required by your landlord or the Homeowners’ Association to have personal property coverage. But it’s vital to be aware that this type of insurance is more than simply checking a box. Besides the emotional attachment you might have to your belongings, they also have a value. Personal property coverage is reassurance that the value of your heirlooms and everyday items will be safeguarded should a covered loss occur.

To submit a claim, your belongings must have been lost as a result of an event specified in the policy. Named perils listed in a personal property insurance policy can include the following:

  • Theft and vandalism
  • Criminal mischief
  • Flood
  • Fire and explosion
  • Hail or windstorm
  • Hurricane
  • Volcanic eruption
  • Earthquake
  • Riots or civil disturbance
  • Falling objects
  • Damage caused by aircraft or vehicles
  • Smoke

By opting for broader coverage, you may also be able to shield your property from the economic loss caused by open perils. In other words, rather than being covered for named perils, you would be protected from all events — except for those specifically excluded under the terms of the policy.

The team at Caribbean Risk Group knows that a personal property insurance policy is so much more to you than simply a document. It is the one thing that can allow you to be rest assured that the value of your cherished possessions is secured. We can assist you with navigating the process of exploring different insurance coverage and help to ensure you have the maximum protection available.

Contact Caribbean Risk Group to Learn More About Our Services

At Caribbean Risk Group, we don’t just sell insurance policies — we take the time to understand your specific needs and will tailor your coverage to ensure they are met. Located in St. Thomas, our team will explain your options and find cost-effective solutions for your homeowner’s policy, personal property coverage, and rental or condo insurance. Contact us for a free quote today by calling (340) 774-2323.

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