Property Insurance in Chile
Foreign nationals who own a property in Chile have the same rights as the locals. The country has no history of expropriation of a property owned by an expat as property rights are well-defined and strongly protected by Chilean laws. More often than not, property insurance in Chile is quoted in monetary units called UF or Unidad de Fomento. The value of UF refers to a certain number of Chilean pesos, and this value is determined by the central bank. Expats who plan on buying insurance for their property in Chile will be given a policy that is quoted in UF. This UF already has a built-in inflation adjustment, so adding an inflation adjustment rider into the property insurance policy is not needed.
Clements Worldwide Property Insurance
For almost 70 years, Clements Worldwide Property Insurance has been providing high quality insurance policies to local and foreign organizations, as well as local individuals and expatriates of any nationality in Chile. The company knows the challenges and issues that accompany life or business abroad, and is equipped with the coverage most appropriate for its customers in Chile.
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