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Is house insurance a good idea? We're buying a home in Chula Vista. The house has a pool and built primarily with stucco. Our friends say they don't have insurance, as fire hazards are low here and theft issues are a pain to get reimbursement. What is the consensus? Ok to PM. Thanks!

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Home insurance is pretty cheap here. We have had it mainly for the medical benefits it provides our various workers if they injure themselves while working on our property. We have friends whose gardener was on a ladder trimming stuff on his wrought iron fencing and the ladder slipped and he impaled  his arm on the spikes at the top of the fence. It also covers power surges or brown outs that damage electronic appliances.

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2 hours ago, tomgates said:

Home insurance is pretty cheap here. We have had it mainly for the medical benefits it provides our various workers if they injure themselves while working on our property. We have friends whose gardener was on a ladder trimming stuff on his wrought iron fencing and the ladder slipped and he impaled  his arm on the spikes at the top of the fence. It also covers power surges or brown outs that damage electronic appliances.

So how cheap is cheap???

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About $250 Us a year.  We have always carried it on our houses and our rentals.  Worker protection is the primary reason however in the village we were on a fault line and paid an extra rider. In the early 2000s a room in our house had the floor implode into a cavern, so yeah, insurance is a good idea. 

 

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A good idea to get house insurance in case of earthquake or shifting ground, flooding, employees getting injured, lightening damage, etc. You could have a serious fire in your kitchen.

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I have had experience w/homeowner insurance here.

What is important is to remember that the Devil is in the details. Read the policy (you should have access to an English version if you are not conversational in Spanish.

You will find 649 exceptions/things that are not covered. OK, I'm exaggerating, but you get the idea. 

You also have better have receipts for anything you want to make a claim on, like the watch you bought 6-years ago in Texas. 

If your house is broken into, there must be physical evidence of forced entry. 

With all that said, it is cheap and if you have a "covered loss," you will be jumping through a lot of hoops. Also, shop for the best price though the difference may only be slight, so look for people who have had experience with brokers X, Y and Z here.

My opinion only.

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I'm guessing having insurance against theft will involve being the victim of theft by the insurance company. ie not cheap ?

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It has paid off for us.  We had a house in the Raquet Club and had a few instances of broken glass in sliding glass doors, one of them very large.  We found the claim process easy.  Better to be safe than sorry. We use Teresa Pineda at O'Rourke in Centra Laguna on the Carretera.

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