Insurance Spain

Home or house insurance in Spain is not compulsory (except for buildings insurance when you have taken out a mortgage) but obviously as your home or house in Spain is probably your main asset in your life; you are well-advised to protect it. Now that you have bought a property in Spain we look at the types of insurance you should consider in order to protect it.

Choosing the right protection for your property and house in Spain is essential and indeed many people are so excited once they have passed all the many hurdles that buying a property in Spain entails, that they usually feel the insurance is fairly unimportant and something that ‘they will look at later’.

House Insurance in Spain – Spanish Home Insurance

This article on house insurance in Spain (also commonly known as home insurance) is designed to help you get the lowest and cheapest quote for your house/home insurance. If you are considering buying a property and you want to find out how much house insurance in Spain costs then read on and we will give you real-life examples.

If you already have a house in Spain and you are looking to renew then obviously you want to renew your house insurance for the lowest possible price. Try going to an insurance broker who will be able to compare quotations from many different providers of house insurance as this will potentially save you enormous amounts of time (as well as money) contacting each insurance company directly yourself.

Home Insurance in Spain – Spanish House Insurance

Try also find a home insurance price comparison search engine which will take your specifications and instantly search online and compare prices for the cheapest house insurance on the market. Always shop around as house insurance in Spain is expensive and quotations vary dramatically from one company to the next.

Do be sensible and don’t necessarily take out the cheapest house insurance quote that you are given. Other factors are also important such as the level of coverage. Consider whether the cheapest home insurance quote you have found actually gives you everything you need covering as otherwise the policy and premium is pointless when you need to make a claim.

Do take into consideration your language skills. If you are not fluent in Spanish then it is important to take out house insurance with policy documents issued in English. Otherwise  you won’t fully understand what you are covered for. Don’t take the agent or brokers verbal explanation as when it comes to claiming on your house/home insurance you will be the one footing the bill if you find you are not properly covered. So check the small print and ask questions until you are 100% sure the policy if what you want.

Below we covers the various different types of home and house insurance in Spain, these include:

Building Insurance in Spain

This is covered in our detailed page on buildings insurance Spain, but most people will understand this to be the insuring of your property in Spain, usually your villa or apartment but possibly another type of building such as a commercial building.

If you take out a bank loan or mortgage in Spain it will be compulsory for you to have adequate buildings insurance so that your lender is protected should anything happen to your property. Clearly having building insurance should be an essential insurance for anybody whether they have a mortgage or not. Imagine the rebuilding costs of most properties – without the correct level of cover you could find yourself homeless. 

Home Contents Insurance in Spain

Community Insurance in Spain

This is covered in our detailed page on community insurance in Spain but to give you the basics it is the insurance necessary when you have bought an apartment in Spain. What you need to be aware of is what is included in your community fees and what isn’t. As a general rule you should be aware that the inside of your apartment i.e. your fixtures and fittings and all your personal possessions are not insured by the community charge.  

Because you are part of a community – in other words one of many owners of the apartment block then there is typically a community (sometimes also known as an association) which has a board and president which handle the administration of the apartment block. Part of their job is to collect fees from all the residents which go towards insuring the outside of the building and maintaining common areas such as the pool and gardens.  Usually you and every other owner will pay a community fee either annually or monthly to cover these expenses. It is usual for each community to have community insurance to protect the residents against buildings cover and public liability insurance.

Holiday Home Insurance in Spain

Our detailed and comprehensive page on holiday home insurance in Spain covers all aspects of having a second-home in Spain and using it as an investment by letting it out by doing holiday lets or rentals or perhaps renting it out on a long-term let basis.

Given the risks of insuring a holiday home in Spain – especially if you are renting it out then you really should make sure you have adequate cover as many things can go wrong. For good reason most insurance companies see holiday homes as higher risk – possible events would be an increased risk of burglary because the property is empty for long periods, people who rent your property in Spain will not look after it as you would, they may also suffer personal injury and sue you for damages.

Below we have a video from an insurance consultant who gives his personal tips and advice on how to save money on your house and home insurance in Spain: