Owners and Renters Insurance in Ecuador

Owners vs. renters — what is actually different

• Owners (homeowners) typically insure the building structure, fixtures, and often the contents.
• Renters (inquilinos) insure only their contents and their liability, not the building itself.
• If you own a condo, the building shell is usually insured by the building — you insure your unit interior and contents.
• Set coverage around current replacement cost, not what the property or contents originally cost.

Common coverage lines

• Structure (edificio): building, roof, walls, built-in fixtures.
• Contents (contenido): furniture, electronics, clothing, kitchen.
• Liability (RC): third-party injury or property damage on your premises.
• Theft (robo): stolen items, often with a deductible.
• Fire / natural event: fire, smoke, water damage, earthquake, flood.
• Glass (cristales): windows and fixed glass.
• Loss of use: alternative housing if the property is uninhabitable.

Questions to ask the advisor

• Are earthquake and volcanic eruption covered, and at what limit?
• Is flood covered, or is it an endorsement? Flood is a frequent Ecuador exposure.
• What is the deductible per claim, and per coverage line?
• Is the policy on a replacement-cost basis or actual-cash-value basis?
• How are high-value items (jewelry, art, electronics) sub-limited or scheduled?

Tip

Keep a photo inventory of your contents with values and serial numbers. It is the difference between a fast claim and a disputed one.