1.1 What is general insurance?

General insurance protects your material assets and covers you against liability for damages you may cause to third parties.

The most common types for individuals are:

1.2 How does general insurance work?

Unlike health insurance (where you pay and use medical services), general insurance works like this:

1. You insure an asset for a determined value (sum insured)
2. You pay a premium monthly or annually
3. If a covered loss occurs, the insurance compensates you (financially)
4. You assume a portion of the cost (deductible)

1.3 Realistic expectations

Your general insurance IS:

• Financial protection against material losses
• Support against liability claims
• Peace of mind knowing that an event will not ruin you

Your general insurance is NOT:

• Coverage for absolutely everything — There are exclusions and conditions
• A way to make money — It covers losses, it does not generate profits
• Maintenance — Normal wear and tear is not covered
• Extended warranty — Manufacturing defects are the manufacturer's responsibility

2.1 Sum Insured — "How much is it insured for?"

The sum insured is the maximum amount the insurance will pay if you lose the asset completely. It should reflect the actual value of what you are insuring.

Example: If you insure your house for RD$5,000,000, that is the maximum you will receive if it is totally destroyed.

Underinsurance example:

• Actual value of your house: RD$10,000,000
• Sum insured: RD$5,000,000 (50% of actual value)
• Fire damage: RD$2,000,000
• Insurance pays: RD$1,000,000 (50% of the damage)

Moral: Insuring for the correct value protects you completely.

2.2 Deductible — "Your share of the risk"

The deductible is the amount you pay out of pocket for each loss before the insurance kicks in.

Why does it exist? To avoid very small claims and keep premiums reasonable. It also makes you a participant in the care of your assets.

Example:

• Damage to your vehicle: RD$50,000
• Deductible: RD$15,000
• Insurance pays: RD$35,000

Types of deductible:

2.3 Coinsurance — "Sharing the risk"

In some insurance policies, in addition to the deductible, you share a percentage of the damage with the insurer. This is called coinsurance.

Example with 80/20 coinsurance:

• Damage: RD$100,000
• Deductible: RD$10,000
• Amount subject to coinsurance: RD$90,000
• Insurance pays (80%): RD$72,000
• You pay (20%): RD$18,000
• Total you pay: RD$28,000 (deductible + coinsurance)

2.4 Depreciation — "Value decreases over time"

Assets lose value with use and time. This is called depreciation.

Two forms of compensation:

Example with a 3-year-old television:

• Original price: RD$40,000
• Depreciated (actual) value: RD$20,000
• Replacement cost: RD$45,000

If your policy is at actual value, you receive RD$20,000.
If it is at replacement value, you receive up to RD$45,000.

2.5 Exclusions — "What is NOT covered"

No insurance covers everything. Exclusions are situations or damages that the policy does NOT pay for.

Common exclusions in general insurance:

• Intentional damage (that you cause on purpose)
• Normal wear and tear and gradual deterioration
• Manufacturing or design defects
• War, terrorism, nuclear radiation
• Confiscation by authorities
• Damage while the asset is used for undeclared purposes
• Specifically excluded events (according to each policy)

3.1 Why it is essential

Your vehicle is probably one of your most valuable assets. Additionally, when driving you assume liability for damages you may cause to others.

3.2 Types of vehicle coverage

Liability (Mandatory)

Covers the damages YOU cause to OTHERS:

• Injuries to people
• Damage to third-party vehicles
• Damage to third-party property

Comprehensive Coverage (Full Cover)

Includes liability PLUS protection for your vehicle:

Optional additional coverage:

• Roadside assistance: Towing, tire change, locksmith
• Replacement vehicle: Temporary car while yours is being repaired
• Personal accident: Injuries to driver and passengers
• Medical expenses: Medical care from an accident
• Legal defense: Lawyers if there is a lawsuit
• Territorial extension: Coverage outside the country

3.3 How much should I insure my vehicle for?

The insured value should be the current market value of your vehicle, not what you paid for it.

Factors that affect value:

• Year and model
• Mileage
• Overall condition
• Extras and modifications

3.4 Deductibles in auto insurance

Deductibles vary depending on the type of loss:

3.5 What to do if you have an accident

At the scene:

1. Secure the scene — Turn on hazard lights, place warning triangles
2. Check for injuries — If anyone is hurt, call emergency services (911)
3. DO NOT move the vehicles if you can avoid it (unless they dangerously block traffic)
4. Call the police — AMET or DIGESETT for the traffic report
5. Document everything:
   • Photos of damage (all angles)
   • Photos of license plates of all vehicles
   • Photos of the scene
   • Other driver's information (name, ID, phone, insurer)
   • Witness information
6. DO NOT admit fault — Neither verbally nor in writing
7. Notify your insurer — Generally within the first 24-72 hours
8. Call your broker — We will guide you on the next steps

Documents for the claim:

• AMET/DIGESETT report
• Photos of the accident and damage
• ID and driver's license
• Vehicle registration
• Repair estimate (from authorized shop)
• Claim form

3.6 What to do if your vehicle is stolen

Immediately:

1. Police report — Go to the National Police and file a formal report
2. Notify AMET — So the vehicle is flagged as stolen in the system
3. Notify your insurer — Within the first 24 hours
4. Call your broker — We initiate the claims process

Required documents:

• Police report
• Original registration
• Keys (all that you had)
• Vehicle purchase invoice
• Sales contract if applicable
• Recent photos of the vehicle

4.1 Two different things: Structure vs. Contents

Home insurance can cover two distinct things:

Structure (the building)

• Walls, roof, floors
• Fixed installations (plumbing, electrical)
• Doors, windows
• Annexes (garage, covered terrace)

Contents (what is inside)

• Furniture and appliances
• Clothing and personal items
• Electronic equipment
• Artwork, jewelry (with sublimits)

4.2 Common home coverage

4.3 How much to insure?

For the structure:

The value should be the reconstruction cost, NOT the market value of the property.

Example:

• Market value of the apartment: RD$8,000,000
• Cost to rebuild the structure: RD$5,000,000
• Correct sum insured: RD$5,000,000

Note: The land is not insured (it does not get destroyed).

For the contents:

Make an inventory of your belongings and estimate their total value.

4.4 Deductibles in home insurance

4.5 What to do if you have a loss at home

Immediately:

1. Protect your family — Safety first
2. Prevent further damage — If you can do so safely (shut off water valves, etc.)
3. Document everything:
   • Photos and videos of the damage
   • List of what was damaged or lost
   • Keep damaged parts as evidence
4. Notify your insurer — Generally within 24-72 hours
5. Call your broker — We guide you through the process
6. If it was theft: A police report is mandatory

The claims process:

1. Notification to the insurer
2. Visit from the adjuster (the insurer's inspector)
3. Damage assessment
4. Claim approval
5. Payment of compensation (minus deductible)

4.6 Additional properties (vacation home, rentals)

If you have additional properties — beach house, rental apartment, farm — they also need protection.

Special considerations:

• Unoccupied properties carry more risk and may require special conditions
• Rented properties: You can insure the structure; the tenant should insure their contents
• Location: Properties in coastal or high-risk areas may have higher premiums or exclusions

5.1 What is liability?

Liability is the legal obligation to compensate damages you cause to other people or their property, even if it was an accident.

Everyday examples:

• Your dog bites a neighbor
• A flower pot falls from your balcony and damages a car
• Your child breaks something valuable at a friend's house
• A guest is injured at your home
• You cause a traffic accident

5.2 Where is liability included

Liability can be included in other insurance policies:

5.3 How much does a lawsuit cost?

Liability lawsuits can include:

• Medical expenses of the injured person
• Lost income (what they stopped earning while recovering)
• Pain and suffering (compensation for emotional distress)
• Property damage to property
• Legal costs (lawyers, courts)

6.1 Personal Accident Insurance

Pays a compensation if you suffer an accident resulting in:

• Accidental death
• Permanent disability (total or partial)
• Medical expenses from an accident

Ideal for: Complementing your health insurance or if you do not have health insurance.

6.2 Travel Insurance

Protection during your trips abroad. Covers:

• Medical emergencies abroad
• Trip cancellation or interruption
• Lost luggage
• Flight delays
• Repatriation in case of emergency

6.3 Watercraft Insurance

If you have a boat, yacht, or jet ski:

Typical coverage:

• Hull damage (the watercraft itself)
• Liability (damage to third parties on the water)
• Total and partial theft
• Towing and salvage
• Personal accident for occupants

6.4 Valuables Insurance

For specific high-value items:

• Jewelry and watches
• Works of art
• Collections (coins, stamps, wines)
• Specialized equipment (cameras, musical instruments)

7.1 General steps for any claim

Step 1: Immediate notification

Notify your insurer (and your broker) as soon as possible. You generally have 24-72 hours for serious losses.

Step 2: Documentation

Gather all evidence:

• Photos and videos of damage
• Police documents if applicable
• Invoices, receipts, inventories
• Repair estimates

Step 3: Claim form

Complete the insurer's claim form with all required information.

Step 4: Adjuster's visit

The insurer will send an adjuster (inspector) to assess the damage. Accompany them and show them everything.

Step 5: Assessment and approval

The insurer evaluates whether the loss is covered and calculates the compensation.

Step 6: Payment

If approved, you receive the payment minus your deductible.

7.2 The adjuster: What to expect

The insurance adjuster is a professional who evaluates damages for the insurer.

Your role:

• Provide access to the damaged property
• Show them all evidence
• Answer their questions honestly
• Do not exaggerate or hide information

The adjuster:

• Documents the damage
• Takes photos
• May request additional documentation
• Prepares a report for the insurer

7.3 Important deadlines

7.4 If your claim is denied

If the insurer denies your claim:

1. Request the reason in writing — You have the right to know why
2. Review your policy — Verify if the denial is correct
3. Talk to your broker — We analyze if there is an error or if it is worth appealing
4. File an appeal — With additional documentation if available
5. Escalation — If necessary, there are higher authorities

8.1 Annual renewal

Your general insurance policies are generally renewed every year. It is the time to:

• Review insured values — Are they still correct?
• Update inventories — Did you buy or sell assets?
• Evaluate coverages — Do you need to add or remove something?
• Review deductibles — Are the current ones right for you?

8.2 Update your values

Assets change in value:

• Vehicles: Depreciate every year
• Properties: May appreciate or require updates due to construction inflation
• Contents: If you bought new things, increase; if you sold, decrease

8.3 Changes you should report

Notify your broker when:

• You buy or sell a vehicle
• You buy, sell, or remodel a property
• You acquire significant valuable items
• You make constructions or additions
• You change your address
• The person who regularly uses the vehicle changes
• You use your property differently (e.g., you start renting it out)

9.1 What does your broker do for you?

Before purchasing:

• Evaluates your risks and needs
• Presents you with options from different insurers
• Explains coverages, exclusions, and deductibles
• Helps you determine correct values
• Handles the purchasing process

During the policy term:

• Answers your questions
• Guides you when you have a loss
• Manages your claims
• Coordinates with adjusters
• Defends your interests with the insurer

At renewal:

• Reviews and updates values
• Negotiates conditions and pricing
• Presents alternatives if available

9.2 When to call your broker

Call us when:

• You have an accident or loss
• You do not understand something in your policy
• You buy a new asset that needs insurance
• You sell an insured asset
• You are traveling abroad
• Your renewal is approaching
• You have any question related to your insurance

In summary: When something happens or when you have a question, call us first.

9.3 What your broker CANNOT do

• Approve claims — That is the insurer's decision
• Eliminate deductibles — They are part of the contract
• Cover exclusions — What is excluded is excluded
• Change the past — If it was not insured, it cannot be claimed

What we CAN do: Make sure you are well protected BEFORE something happens, and defend your interests WHEN something happens.

10.1 Your rights as a policyholder

• Clear information about your policy
• Receive the contracted benefits
• Fair treatment in the claims process
• Know the reason for any denial
• Appeal decisions you consider unfair

10.2 Your responsibilities

• Declare truthful information when purchasing
• Pay your premiums on time
• Report losses promptly
• Take reasonable precautions to prevent damage
• Cooperate in claims investigations
• Report relevant changes
• Do not exaggerate or falsify claims

The principle of good faith

Insurance works on trust. If you act in bad faith — exaggerating damages, hiding information, or making false claims — you lose the protection of the insurance and may face legal consequences.

11.1 Best practices

1. Insure for the correct value — Avoid underinsurance
2. Document your assets — Photos, videos, invoices, inventories
3. Read your policy — At least the main coverages and exclusions
4. Update annually — Values, coverages, inventories
5. Act quickly after a loss — Notify, document, claim
6. Keep copies — Of policies, invoices, communications
7. Use your broker — That is what we are here for

"Behind every policy, there is a person who knows you."

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