Ticos Rush To Buy Insurance
Following Earthquake
Following the earthquake of January 8, the purchase of property
insurance policies has shot through the roof, according to the
Instituto Nacional de Seguros (INS) - state insurer.
The INS reports that of December 31, 2008 it had issued 236.202
insurance policies, while by January 20, the number of policies had
increased to 246.228 or 10.026 new policies issued in just three
weeks.
The breakdown is about 88% for residential properties and 12% for
commercial.
INS officials believe that fears of more tremors and another
devastating earthquake is the motivation behind the rush to buy
insurance.
The INS also said that as of January 23 it has received 2.964 claims
by those affected by the earthquake and is expected to climb when
the numbers for the period ending January 30 are tabulated.
The state insurer sells insurance policies against tremors,
earthquakes, landslides and flooding. The cost of the policy will
depend on the coverage and value of the property insured and can be
purchased at any INS agency or authorized INS insurance agent. |
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