PROPERTY INSURANCE Protect the home of those that matter most: your family

Assurant helps keep your home safe at all times

We know how important it is for you to maintain a safe home for your family. If a fire, an act of vandalism, a natural phenomenon or a catastrophic event affects your residence, our coverage offers you the protection you need to repair the damage as soon as possible.

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Your home, your life, your peace of mind.

Our Property Protection Plans offer you:

Protection against everyday risks

We protect your home and your belongings should a fire, smoke or explosion cause damages to your home.

Relief against catastrophic events

We safeguard your property against the damage of natural disasters such as hurricanes or earthquakes.

A thorough and swift claims process

When the unexpected happens, our team of professionals with over 30 years of experience in Puerto Rico help you get back on your feet as soon as possible.

FREQUENTLY ASKED QUESTIONS

Click on one of the questions listed below to view it’s corresponding answer

GENERAL INFORMATION
YOUR COVERAGE
FILE A CLAIM

What is covered by my Property Policy?

Your policy covers all damages affecting your home as a result of natural disasters and/or catastrophic events such as, fire, smoke, hurricane and earthquake, among many other. Depending on the particularities of your policy the coverage might be limited to your property structure or may also include your belongings.

Check the declarations page on the property policy included in your Mortgage Loan documents for details on your coverage and the perils included. Whatever is not specified in your policy is not covered. Some examples of perils not included are power failure and intentional loss.

What is the deductible?

The deductible is the portion of the claim cost that you have to cover. This deductible may be a specific amount, such as $250 for the damages caused by fire; or a percent of your total coverage limit, i.e. 2% in case of earthquakes.

When you file a claim, you must present an estimate for the damages. When the estimated cost is higher than the deductible, the insurance will cover the amount over the deductible specified in your policy.

To learn about the deductibles that apply to you, you can check the declarations page of your policy.

Is there a policy limit?

The policy limit will vary depending on the coverage.

STRUCTURE COVERAGE LIMIT
Usually, the coverage limit is based on the value or replacement cost of your property at the time of your mortgage loan disbursement. However, if you make home improvements, the replacement value may increase. It is important to periodically review that the limit insured fits the replacement cost of your property. Not completing this review may result in what is known as a coinsurance penalty. In the event that you make a claim, your final compensation payment could be adjusted because the insurance limit would be lower than your property replacement cost at the time of the incident.

PERSONAL PROPERTY LIMIT
The limit is a fixed amount established at the time the insurance was offered. Losses will be adjusted to the actual cash value of the personal property affected, minus the estimated depreciation for the years used.

LIMIT FOR THE PUBLIC LIABILITY TO A THIRD PARTY
Your General Liability coverage has two limits. One applies to personal liability and the other one, to medical payments for a third party. Both are fixed limits.

What is a coinsurance penalty?

A coinsurance penalty could apply if you made improvements to the property and did not update the insured limit of your policy to cover said improvements

The insurance limit of the insured property is required to be at least 80% of its replacement cost. During the claim process, the current value of the property is compared to the insured limit. If the insured limit is less than 80% of the replacement cost the final compensation payment for your claim will be adjusted proportionally to the insured value.

This adjustment derived for not having the insurance limit amount updated to match the current replacement cost of your property is the coinsurance penalty.

What is the replacement cost?

Replacement cost is the cost of rebuilding the structure with materials of like kind and quality at current prices with no deduction for depreciation.

What is the coverage limit of my policy?

The coverage limit of your property policy is established based on the value of the characteristics of your property at time the policy was issued. Any improvements such as remodeling bathrooms, kitchen, windows and/or doors, or room expansions, made after that date may increase the replacement value of your property. For this reason, it is important to review periodically the insured limit of your policy and update the replacement cost of your property to include the value of any improvements you may have done. Skipping this periodical revision may result in a coinsurance penalty applied in any future claim.

How can I determine the replacement cost of my property?

The best way to determine the replacement cost of your property is hiring a certified professional such as an appraiser or an engineer, that can conduct an appropriate valuation of your property based on its current state.

When does my policy expire?

Our property policies are valid for a year and renew automatically. To learn the exact effectiveness and renewal dates check the declarations page of your policy or log in to your account on this portal to see the information online. If you prefer, you may also contact your authorized insurance representative.

How can I get a copy of my policy?

You can download a copy of your policy by logging into your account on this portal or by contacting your authorized insurance representative.

Who is my insurance authorized representative?

Your authorized insurance representative could be the Insurance division of the financial institution that issued your mortgage loan or anyone that helped you acquire your Property Insurance. You may check this information by logging in to your account on this portal.

What should I do to file a claim?

To file a claim, you can access the claims section in and download the form or call you authorized insurance representative.

What documents should I include with my claim?

To facilitate the processing of your claim you must have the following information ready:

Insurance Policy number and/or you home loan account number
Physical address of the insured property affected
Description of the incident and of the damages