Insurance

In the Cayman Islands you have a large selection of different insurance companies which will provide coverage for: house and content, car, life, health and more.

Health insurance
Health care is provided by the government and private practioners. All residents must have health insurance, and half is usually covered by the employer; if you are self employed you will be required to purchase your own health insurance. On island insurance companies include:

House insurance
On average house insurance is 1.8% of the property value; this includes liability and building insurance. The rates are different depending on your location and type of property you own.

Contents insurance
Minimum coverage for content insurance is $25,000 at most companies, you can estimate that cost will be $600 for minimal coverage. If you are renting a property, insuring your personal effects is your own responsibility. Your landlord may have insurance to cover the contents provided in your unit but anything that belongs to you needs to be covered in your own policy.

Car insurance
Unless you have proof of purchase of car insurance, you will not be able to transfer title on a car. The average cost to insure a compact car under $10,000 is about $1,000. Keep in mind that there is no fire or theft insurance in the Cayman Islands; a while back there was a large number of cars that mysteriously caught fire in the far end of the island; stolen cars must be taken off island in order for it to be missing, otherwise the car is misplaces or just lost. You may be able to get some discounts on insurance if you have a letter from your current insurance company stating that you have had no claims in the last year or more.

AON Cayman National Insurance Brokers Ltd.
Tel: (345) 949 0111
http://www.aon.com/caymanislands/
Products: Health, Life, Motor, Business, Property, Casualty, Professional Indemnity, Annuities and Marine.

British American Insurance
Tel: (345) 949 5811
Email: rmackenzie@baico.ky
Products: Life, Health, Pensions, Property, Casualty, Education and Annuities.

British Caymanian Insurance
Tel: (345) 949 8699
www.cgigroup.bm
Products: Life, Health, Pensions, Property, Motor and Casualty.

Cayman Insurance Centre
Tel: (345) 949 4657
Products: Life, Health, Pensions, Property, Motor and Casualty.

Clico Cayman Limited
Tel: (345) 949 2925
www.clico.com
Products: Life, Group Health and Pensions.

Fidelity Insurance (Cayman) Limited
Tel: (345) 949 7822
Email: insurance@fidelitycayman.com
Products: Life, Health, Property, Casualty, Business, Pensions, Marine and Motor.

First Financial Insurance Brokers Ltd.
Tel: (345) 946 2273
Email: quikcare@candw.ky
Products: Life, Health, Property, Casualty, Marine and Motor.

Generali Worldwide Insurance Co. Ltd.
Web: www.generali-gw.com/healthcare/cayman/
Products: Group Health Insurance

Insurance Company of the West Indies(Cayman) Ltd.
t. (345) 949 6970
Email: icwi@candw.ky
www.icwi.com
Products: Property, Casualty, Marine, Life and Motor.

Island Insurance Brokers
Tel: (345) 949 0883
Email: info@iib.com.ky
Products: Property, Casualty, Life, Marine and Motor.

Motor & General Insurance
Tel: (345) 949 6299
Email: mgi@candw.kyProduct offered: Motor.

Sagicor General Insurance (Cayman) Ltd.
Tel: 345 949 7028
Email: askus@sagicor.ky
Products: Health, Property, Motor, Business, Disability, Casualty and Group Life, Captive Insurance, Administration Reinsurance.

Sagicor Life of the Cayman Islands
Tel: (345) 949 8211
Email: customerservicecayman@sagicor.com
Products: Life Insurance, Investment and Annuities.

Source: New Resident Magazine (2009)