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Insurance for Investment Properties in DR

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Burgs

hi all,

Hoping someone might be able to help us.

My husband and I fell in love with Las Terrenas on a recent visit and are now thinking of buying a condo to use as an investment property until we are ready to retire in a few years, and the use the property more ourselves.

We are having a hard time understanding what property and liability insurance makes sense.

Can anyone on this forum with investment properties in Las Terrenas offer any suggestions.  We're concerned about making sure we have enough liability coverage,  since the unit will be used for short term rentals, but the quotes we've received so far seem to offer little to no liability coverage. 

Look forward to learning more!
Thanks!

Allor925

We are currently looking at Condo insurance. I believe you would look at Civil Liability and or Contents coverages. But I'm no authority and continue to research this subject. I am looking at one of the best Health and Property Insurance companies in the RD, Universal. Would love to hear anything you find out definitive.  Thanks!

https://www.universal.com.do/productos_ … icasa.aspxhttps://www.universal.com.do/productos_ … fault.aspx

Night Rider82

Very interesting topic.

Burgs

Allor925,
Thank you for the link to Universal and suggestion to look into Civiil Liability, I'll take a look. 
We will post anything we uncover.
if anyone else has navigated this, and actually purchased liability coverage for a rental/investment property, we'd love to hear about your experience.

thank you!

Allor925

You're most welcome. I sent you some more links through pm to Universal products related to homeowners insurance.

planner

Get a reliable broker.  They can explain the details because they matter a great deal here.  It is not like home!

DominicanadaMike

Feel free to send me a PM if interested in all types of Insurance.  I have an excellent broker recommendation and the representatives work hard to provide a full service relationship.  They speak both English and Spanish and my personal experience has been exceptional. 

The recommendations will be realistic for you and not what puts the most dollars in their pockets.  They will fully explain the pros and cons in terms that you should understand.

Health Insurance quotes will be for several first line companies including Universal and Humano...

Cheers.

GuestPoster38

Following.

vbizDR

Also looking to find more info on commercial properties insurance in PC. Any info is appreciated. Feel free to PM me

RoCamilo

We purchased a property in Las Terrenas and  the developer formed a management company and all apartments that want to participate in the pool rental can do so. They manage everything, including getting insurance for the property. I bought directly from the developer as he was recommended by a family member. I can't speak highly enough of him. Extremely professional and the quality of the finishes is top notch. The buying experience was great and they are doing an amazing job managing the rental. They are developing several projects in Las Terrenas at the moment. I could not imagine having to worry about dealing with issues with the rental as we live in the US. We had been wanting to invest in a rental property for many many years and never felt comfortable to do so until we were introduced to this developer. Send me a message if you want me to put you in touch with his team.

olgaglenn

Ro, What’s the name of developer and community you brought in? We want to purchase an investment property in Las Terrenas and also have a friend wanting to purchase there too for investment. Thank you

DRCulture

@Allor925
Thanks for the information about Universal.  I have reached out to them to get a quote on home owners and civil liability insurance!

planner

Make sure to compare to other companies!  Universal is good but it's good to compare!

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