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MEXLAW > Insurance  > Tips on Securing Your Vacation Home in Mexico

Tips on Securing Your Vacation Home in Mexico

So you found your dream home in Mexico, now it is time to shop for a homeowners insurance policy to protect your investment.

Unexpected loss happens, whether it is loss through robbery, vandalism, fire, flooding or a natural disaster. Vacation homes are at higher risk of loss as some foreigner property owners only stay six months and leave the home vacant for the remainder of the year.

A significant portion of real estate purchased by foreigners in Mexico is condominiums. In this case, the condo association will have a blanket policy to insure the structure, common areas, fixtures, and amenities. It is important to review the policy which is defined within the condo bylaws and assess the policy you will purchase to protect your condo.

Helpful Tips on Protecting Your Mexican Property When You are Away

  • Check with your home insurance broker. Understand the requirements or clauses regarding leaving a home empty for an extended amount of time.
  • Hire a trustworthy housesitter, or offer a free stay in Mexico in exchange for having your home occupied.
  • Rent it out. Condo owners may take advantage of the rental pools within the development and/or hire a private property manager to care for the home while they are away. Inquire about rental liability and loss of rent income insurance.
  • If your condo is in a gated community, advise the security guard of your absence.
  • Make sure the home is maintained and does not look deserted.
  • Shut off the gas and turn off the water to avoid leaks.
  • Install secure deadlocks on doors and windows.
  • Set up light timers – this gives the illusion someone is home.
  • Unplug valuable electronics  such as TVs or computers to avoid power surge damage.
  • During the rainy season in Mexico, it is imperative to have someone check in and not only make sure there is no water damage but also to run the air conditioner and air out the home, with the humid weather mold can take over.
  • If you live in a detached house and leave your car parked outside, have a friend move it once in awhile, not only is it good for the battery but looks as if someone has been home.
  • Fumigate before you leave to stop termites, ants, and roaches from moving in while you are gone.