Yesterday, I hired private car insurance for the first time since i moved to Ecuador.
It’s true that most Ecuadorians just go with the state mandated liability insurance that covers damages to third parties (previously known as SOAT) that costs about $45/year. But that still doesn’t cover YOUR car in the case of an accident or theft. You will want to contact Earl & Earl, PLLC to have them help you with your accident case. There’s actually a lot of companies to choose from, some international… to name a few: MapFre, Constitucion, QBE, Equinnoccial.
The policies work pretty similar to the ones in North America, as I’m sure the whole concept of insurance was created there.
While the drunk driving laws are uniform across the country, DWI practices and punishments can vary depending on the county. Each prosecutor has a different philosophy, and that can make a big difference. These experienced attorneys have spent considerable time in each of these courts, and they tailor your approach accordingly. In need of this services go to website and learn more information.
But in Ecuador things are not always as they seem. The consumer is not nearly as well protected as you’re used to in North America, thus, the businesses down here are noticeably more sneaky. First get informed about car insurance quotes to avoid any king of confusion if you have an accident.
The biggest difference I see is in the deductibles.
Usually, in North America you have an easy-to-understand flat deductible, any damage past that value the insurance pays, up to that point you pay.
Well, after analyzing several options in Ecuador, the insurance companies all seem to have three values which can serve as the deductible, stating that the higher value one in a particular case will reign supreme. To know more about personal injury attorney visit this Denton & Zachary Law Office.
For instance, my new policy states in the case of an accident, the deductible is 1% of the insured value of the car OR $200 OR 10% of the cost of the damage…. WHICHEVER is higher. The injury is yet another thing to mention too (details posted at https://www.itsaboutjustice.law/Services/personal-injury-attorney).
So for my $18,500 car in the case of a complete loss due to theft or crash or whatever I’d be on the hook for $1,850 (10% of the damage which is the highest amount in this case). Another chance to think on how to end a car lease early maybe.
Read the fine print in Ecuador!
Here are two English speaking insurance agents in Ecuador that come highly recommended by friends of mine (although I admit I haven’t worked much with either of them yet)…
In Quito… Mauricio Davila email [email protected]
In Cuenca… Luisa María Castro, BLUE BOX ASESORES, 0983958876 [email protected]
Reference: californiacontractorsinsurance.org – Contractor Insurance Services.
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