Hurricane Coverage - Reasons to Not Self Insure
If you are considering relocating to Mexico, the most common question about living in the country deals with the risk of hurricanes and natural disasters. Many people self-insure their homes in Mexico when considering this possibility, but this practice may not be as safe as it seems. Self-insuring your Home or Condo in Mexico against hurricane damage is risky. Here are a few reasons why: If your home is damaged or destroyed and it is not insured, you will be responsible for rebuilding it completely on your own. The cost of Mexico Home Insurance is a cost that you build into your annual home expenses. Your goal is to mitigate risk and transfer the financial responsibility to the insurance carrier. Insurance companies also have access to specialized resources, such as claims adjusters and contractors, that can help make the repair process go more smoothly. Self-insuring leaves you vulnerable to lawsuits if someone is injured on your property. Insurance provides coverage for m...