What type of property is eligible for Mexico Homeowners Insurance. This is a question we often hear. Let’s discuss this.
Eligible Mexico Property Types
Single Family homes are eligible for Mexico Homeowners Insurance. Regardless of makeup or location in Mexico, single-family homes are eligible.
Condo Units are eligible. Individual condo units, for single-family occupancy, but not the complex itself.
Single Family Townhomes are also eligible for Homeowners coverage
All and any of the above can also be used for Airbnb or other rental property and still be eligible for Mexico Homeowners Insurance.
Not Eligible for Mexico Homeowners
Multi-Family dwellings, including duplexes and triplexes, are not eligible for this program. Neither are commercial buildings such as apartment buildings, bed & breakfasts, or hotels and motels.
Locations for eligibility of Mexico Homeowners Insurance
Coverage throughout Mexico is available, in all 32 states including the Yucatan Peninsula. There was a moratorium on Yucatan homeowners insurance for many years following the devastation of Isidore which caused $1.2 billion in damage. Now again you can purchase insurance on eligible properties anywhere in Mexico but if you wait until a hurricane is bearing down be it might be too late. The insurance company can place a moratorium for up to 48 hours prior to landfall, and up to 48 hours after the storm leaves. So, if you wait until forecasters tell you a storm is coming, it might already be too late.
To get a quote and purchase your Mexico homeowners insurance, click here.