Understanding Your Options
Policy Recommendations in St. Maarten
After your needs have been discussed, an advisor can walk through policy options with you. This can include an explanation of what each option may cover, what it may not, and the points to weigh, so you can make your own decision. In St. Maarten, this often includes how a policy treats storm damage, flooding and named-storm deductibles.
In short: A policy recommendation is an explanation of what one or more policies may cover, including limits, deductibles and exclusions, in light of your needs and budget. It is intended to help you compare options, and the decision on what to buy remains yours.
Recommendations Based on Your Needs
A recommendation can follow from your insurance needs assessment. Your risks, budget and preferences can be discussed alongside policies that insurers offer, including cases where a simpler or less costly option may be worth considering.
What an Advisor Can Explain
- Coverage: what events and losses the policy responds to.
- Limits: the most the insurer may pay, and whether limits are per claim or per year.
- Deductibles and excess: what you pay first, and how changing it may affect the premium.
- Exclusions: what is not covered, explained in plain language.
- Conditions and warranties: obligations such as security, maintenance or hurricane preparations.
- Optional extras: add-ons that may or may not be relevant to you.
Examples of Topics That Can Be Discussed
- Home and contents: reinstatement value versus market value, and storm, flood and named-storm deductible terms, which may matter on a hurricane-exposed island.
- Auto: third-party only versus comprehensive, which may depend on the age and value of the vehicle.
- Health, life and disability: the balance between benefits and affordability for your family.
- Business: general liability, property, workers’ compensation and cyber cover, and how they may fit together.
Cost Considerations
Some people look at ways to manage the cost of cover, such as adjusting deductibles, bundling policies with one insurer, making security or storm-preparation improvements to the property (for example shutters), and paying annually rather than monthly. Whether these options are available and how they affect cover depends on the insurer and policy wording, and an advisor can discuss the trade-offs.
What Happens Next
From Recommendation to Cover
An advisor can compare quotes from insurers and help with applications and documents. After a policy starts, an ongoing policy review is one way to check that it still fits your situation.
Policy Options in Sint Maarten and Saint Martin
Conversations about policy options in Sint Maarten often start with the same points: the Atlantic hurricane season (1 June to 30 November), the limits and deductibles that apply to storm damage, and how the sum insured compares with rebuilding or replacement costs. Hurricane Irma in September 2017 caused widespread damage on the island, and it is why many people look closely at these terms. An advisor can also explain conditions such as hurricane preparations or security requirements, and whether a policy is written in US dollars or another currency. For businesses in Philipsburg, Cole Bay or around Simpson Bay, the discussion may include business interruption, stock and goods in transit. If you have a vessel, a second home or business activity on Anguilla, Saint-Barthélemy, Saba or Sint Eustatius, it can be worth asking whether the policy applies there. This depends on the insurer and the policy wording.
Contact Us
You can speak with an advisor about your options. Request a call back or call +1 721 542 5078.
Frequently asked questions
How can an advisor suggest which policy to consider?
Usually by starting from your needs assessment: your assets, risks, budget and preferences. An advisor can then discuss policies from insurers and explain the trade-offs between them.
Is the cheapest policy the right choice?
Not necessarily. A lower premium can come with lower limits, higher deductibles or exclusions, which may matter at claim time. An advisor can help you compare the differences alongside the price.
What is a deductible or excess?
It is the amount you pay first on each claim. A higher deductible can lower the premium, but it is worth considering whether you would be comfortable paying it when a claim occurs.
What is a hurricane or named-storm deductible?
Some policies apply a separate deductible to damage from a named storm or hurricane. How it is calculated depends on the insurer and policy wording, so it may be worth asking for it to be shown in writing alongside the other terms.
Can a policy in St. Maarten be written in US dollars?
US dollars are widely used on the island, and a policy may be written in US dollars or another currency. Which currency applies depends on the insurer and the policy, and it is worth checking how the sum insured and any claim payment are stated.
Is policy recommendations available on the French side (Saint-Martin) as well as in St. Maarten?
The Enterprise Insurance offices are in Philipsburg and Cole Bay on the Dutch side. Insurers, rules and supervision differ between Sint Maarten and Saint-Martin, so availability depends on where the person, property or business is located and on the insurer. An advisor can explain what may be possible and whether a French-side insurer or intermediary is needed.
Last reviewed by the Enterprise Insurance team, St. Maarten. This website gives general information about insurance. It is not personal advice, a recommendation or an offer of cover. Terms, limits, exclusions and availability depend on the insurer and the policy wording.
Insurers an advisor may approach
Depending on the type of cover, an advisor may request quotes from insurers such as NAGICO, ICWI, Gulf Insurance, Ennia, Caribbean Alliance Insurance and Guardian Group. Which insurers can quote depends on the risk.
Contact Enterprise Insurance
If you would like to talk through your insurance needs, you can call or visit one of the offices in Philipsburg or Cole Bay, or request a call back using the form. An advisor can discuss your situation, explain how different types of cover work and answer questions about policies you already have. What suits you depends on your own circumstances.
- PhilipsburgIllidge Road #60, Philipsburg
- Cole Bay69 Welfare Road
- Call us +1 721 542 5078+1 721 544 3050
Request a Call Back
Leave your details and a short note about what you would like to discuss, and someone from the team can contact you. Please do not include payment or other sensitive personal details in the message.