A total of $58 million in fire insurance premiums and $372 million in auto premiums were written in the last 12 monthsaccording to data from the Supervisory Board of Companies (Supercias), with an interruption in February 2023. Therefore, vehicles and homes are still the most insured personal property in Ecuador.

Within these branches, cranes and plumbing servicesthat is, they are most useful when policyholders want to make their investment tangible without claims.

However, “they could have access to many more benefits, as there are several important reasons to be safe, one of the main ones being preservation of future financial stability“, explains Carolina Rodríguez, Staff Lines Head insurer AIG-Metropolitan.

Personal wealth insurance “is solutions that insure people’s physical assets, such as their homes, offices, machinery and equipment, vehicles for personal or business use… to provide economic support for losses caused by damage to said property“, explains Rodriguez.

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The insurer, taking into account that Ecuador is a country with a high risk of natural disasters and that the level of insecurity is increased, shares three reasons for personal property insurance in the current situation:

“All types of assets can be insured, you just have to be clear about what type of insurance is needed, the priorities and that it adapts to the reality of the insured,” points out Rodríguez.

Add that to access any type of insurance, It is advisable to look for companies that have support and experience in the global and national markets.