Home & Property Insurance

You are on: Contractors All Risk tab

Contractors All Risk insurance covers loss or damage incurred during the period of construction. The cover usually begins from the commencement of construction work and is provided not only during the erection of the contract works but also for a defined period following completion.

The insurance usually covers losses form but not limited to:

• Storm; tempest including hurricanes, cyclone and Typhoon
• Flood and water damage
• Earthquake and volcanic activity
• Collapse
• Subsidence and landslip

You are on: Mortgage Indemnity Tab

This type of insurance is usually a pre-request to qualifying for some residential mortgage loans.

Most lending institutions in Trinidad & Tobago provide loans up to 75% - 90% of the property value or purchase price. Mortgage Indemnity insurance provides protection to the lender in the event that you are unable to keep-up with your mortgage payments.

Generally, if you fall badly behind on your payments and the lender has exhausted its options in working with you for the repayment of the mortgage, the lender is entitled to sell the property. Depending on the condition of the property or the prevailing market, the lender may end up selling the property for less than you owe on your mortgage. If so, the lender will be 'out of pocket'. If mortgage indemnity insurance exists, the lender can use the policy to make up some or all of the difference.

In order for the mortgage indemnity to respond the following must occur:

• you default on your loan
• the mortgaged property is repossessed under the terms of the mortgage, and
• the proceeds from the sale of the property are sufficient to repay the loan plus interest and any other expenses resulting from the foreclosure or repossession

You are on: Computer All Risk Tab

Personal computers; lap tops and ancillary equipment for home/family use can be covered by you under separate cover or as part of your homeowners insurance.

The Computer All Risk policy provides cover on an all risk basis subject to various exclusions as such, typical events like burglary; theft, robbery as well as fire and flood and accidental damage are covered.