Cayman Islands Insurance Companies FAQ's

Do any firms quibble about hurricane damage?

We all learnt a lot of lessons after Hurricane Ivan about the meaning of ‘under insuring’ a property. Many people had tough negotiations with the Loss Adjustors, but generally the people and residents of the Cayman Islands were treated fairly by the insurance companies. Insurance Companies now encourage their clients to not only get realistic values on their properties but also to make inventory lists of contents and even photograph items, so that in the event of loss they will quickly and efficiently be able to settle their claims. For more information on Cayman Islands Insurance Companies & Brokers check our business directory listings to your right

Are there any specialists in health insurance?

Most of the larger firms offer health insurance and several options from the low end coverage to premium coverage. Employers are obligated under the law to provide health insurance coverage for their employees. For more information on Cayman Islands Insurance Companies & Brokers check our business directory listings to your right

I have just installed hurricane protection. Will my premiums be reduced?

Some insurance companies will reduce premiums when you install hurricane protection, my insurance company certainly did. For more information on Cayman Islands Insurance Companies & Brokers check our business directory listings to your right

Is vehicle insurance compulsory?

In order for a vehicle to be legally licenses in the Cayman Islands it must be insured. For more information check out the government site at www.gov.ky and for answers for insurance professionals and Cayman Islands Insurance Companies & Brokers click on the links to your right.

Can I take my life insurance policy with me when I leave Cayman?

All policies are different and there seem to be many to choose from in Cayman. We have many excellent insurance companies which offer life insurance and Cayman Insurance Centre has several in house experts. Tony Mosely is fantastic and offers great personalized service and can be reached at www.caymaninsurancecentre.com. For more information on Cayman Islands Insurance Companies & Brokers in Cayman and for a full listing click on the links to the right.

Are there real local companies, or are they just branches of international firms?

We have several local companies although their re-insurers are international firms based overseas. Absolutely. For more information on Cayman Islands Insurance Companies & Brokers check our business directory listings to your right

Do I need home insurance?

No unlike motor insurance where the law states that you have to have insurance whilst driving your vehicle to cover your liability for injury or damage to other persons, it is not mandatory to have home insurance.

Most homeowners though should consider purchasing home insurance as your home is the single largest investment you will ever make in your life.  If your home is damaged or destroyed, you would not have the financial wherewithal to repair the damage or rebuild your home.

Additionally where you have taken a mortgage on your home, the bank or other financial institution lending you the money will require that you do have home insurance.

What is the difference between liability and property insurance?

Property Insurance as the name suggests covers all types of property e.g. houses, contents, plant & machinery etc.
Liability insurance on the other hand covers your legal liability to other persons where as a result of your actions, you cause these other persons to be injured or you damage or destroy their property

Is my travel insurance likely to cover health costs in Cayman like air ambulance?

I can’t answer that question for you. Its really important that you check the small print of your travel insurance before you leave for Cayman as all policies vary.

Does my insurance policy cover all losses?

No.  No insurance policy will cover every loss not matter what caused the loss. 

An insurance policy like any other legal contract details what the policy covers and what the policy does not cover.  It is therefore important that the homeowner read their policy documents.  Island Heritage staff are always willing to go through the entire policy document with a client to make sure that they understand what is covered and what is not.