Seguros y pensiones para todos

What can be insured?

In general, almost anything material and immaterial can be insured. But for something to be insured, it must meet all of the following requirements:

  • It must be material (e.g., a car, house, business, etc.) or immaterial (financial loss due to stoppage of an activity, etc.).
  • It must exist at the time the insurance is taken out, or at least at the time when the risks start to become apparent.
  • You must be able to assess it in monetary terms.
  • It must be subject to lawful valuation.
  • It must be exposed to loss because of the risk to the insured.

On the other hand, illicit objects of trade (e.g., a shipment of narcotics) cannot be insured.

Whether something is insurable or not, there is not always insurance for everything. And most insurance is a ready-made product, already designed to cover one or more specific situations. In the end, the policyholder must choose the coverage that best suits their needs or budget.