Claiming Natural Disaster Insurance After the August 10 Colombian Earthquake

Colombia’s insurers offer broad natural-disaster cover, but industry data shows protection remains shallow. According to Fasecolda, only about one in ten homes in the country is insured, and earthquake cover nationally covers 2.2 million properties. In the 105 municipalities across seven departments affected by the 10 August earthquake, insured properties were 442,514, divided into homes (277,308), co-owned buildings (8,510), private risks (128,359) and public risks (28,337).

For those who do hold a policy, the sector’s guidance is to act in a specific order: contact the insurer through its phone lines, website, app or service points; report what happened and follow the company’s instructions for filing the claim; record damage with photographs or videos only when it is safe to do so; and avoid permanent repairs or discarding damaged items before the insurer’s assessment unless that is essential to protect life, prevent further damage or comply with authorities.

Fasecolda president Gustavo Morales said the priority is safety and wellbeing, and that insurers have activated their service channels and protocols to support policyholders, assess possible damage and accompany recovery and reconstruction. Policies can cover events such as earthquakes, tremors, volcanic eruptions, hurricanes, typhoons, cyclones, tsunamis and tidal waves, and may apply to homes, cars, motorcycles, SMEs and co-owned buildings, depending on what each insurer offers.

The Insurance Gap and What Colombia's Policies Actually Pay For

Why Earthquake Penetration Remains Low in High-Risk Areas

Fasecolda’s figures imply a serious underinsurance problem: only 442,514 insured properties in the affected zone, of which 277,308 are homes, while the sector itself says only one in ten homes nationwide is protected. That means after a major earthquake, insurance payouts will reach a minority of affected families; most households will have to absorb repair or reconstruction costs themselves or rely on other support.

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What Seguros Bolívar’s Pricing Shows

Seguros Bolívar says there is no single price for earthquake protection, because each building has different needs. The final premium depends on the property’s characteristics and location, the insured value and the coverages selected. Its home cover starts at 98,000 Colombian pesos a month, but that is only a starting point — the actual cost can move substantially once the insurer assesses the specific property.

What Allianz’s Total-Loss Settlement Actually Pays For

Allianz Colombia explains that after a total loss the insurer pays based on the insured value and policy conditions, minus the applicable deductible. The policyholder can use the payment to buy elsewhere or rebuild on the same land. Depending on the cover contracted, the claim may also include debris removal, preservation of property, uninhabitability, land rehabilitation, replacement of title deeds and lost rent — but these are not automatic; they depend on the policy wording.

What Affected Homeowners and Policyholders Should Do Now

For affected policyholders:

  • Call your insurer’s official phone line, or use its website, app or service point. Fasecolda says the sector has activated these channels after the 10 August earthquake.
  • Report the event and follow the insurer’s claim instructions before making decisions about damaged property.
  • Photograph or video damage only if entering the property is safe, and do not begin permanent repairs or throw away damaged items until the insurer has assessed them — except to protect life, prevent further damage or obey an authority order.

For uninsured households thinking about buying cover:

  • Compare actual quotes rather than relying on advertised starting prices: Seguros Bolívar’s home plans begin at 98,000 Colombian pesos a month, but the final figure depends on the property’s location, value and chosen coverages.
  • Ask specifically which events and extra costs the policy includes — Allianz notes that things such as debris removal, lost rent and land rehabilitation depend on the policy conditions, not every plan.