Home Insurance
Home and contents insurance for your property in Spain will ensure that your home, rental property or business premises are covered 24 hours a day, regardless of whether you live in Spain permanently or own a holiday home in Spain.
It is essential that you arrange suitable home insurance cover in Spain as Home Insurance is a legal requirement if you have a mortgage in Spain.
What to consider when taking out property insurance in Spain
Security arrangements
When you insure your property it is very important to declare to your insurance agent the protection you have on your property if at all. In other words state clearly whether or not there are iron grills on all accessible windows, if the entrance doors to the property are steel reinforced, PVC or wooden. Declare whether or not you have a burglar alarm and if this is connected up to an alarm centre or not also if a safe has been installed.
Occupancy
It has to be stated on the policy the amount of time that the house is unoccupied for, if it is longer than 30 days consecutively.
Year of construction of the property
The year of construction of the property has to be declared along with the year that the property has been reformed i.e. new electrical installations and water pipers renewed.
Square meterage of the built up area of the property
The correct sum insured is calculated according to the built up area of the property including adjoining buildings, garages, swimming pools, retaining walls etc when constituting an integral part of the home.
Retaining walls
All retaining walls should be declared to the insurer by merely stating their value only.
Type of property to be insured
This is usually broken down into the following:- apartment, penthouse, townhouse, terraced/semi-detached house, independent house. If it is in an isolated area this has to be stated. Isolated is usually referred to as not having any other neighbours or houses within 1 km of your property.
Beneficiaries on the policy
If the name of a bank has to be stipulated on the policy due to a mortgage etc. this can be done. Most mortgage providers will not let you have a mortgage without building insurance being in place. You are not legally required to take the insurance out through the bank and it is definitely more beneficial to ask your insurance broker.
Home and Contents Insurance Policy summary details
Fire, explosion and lightning
This would cover damage caused to the insured property due to the direct material damage caused by fire, explosion and even when no fire ensues including internal boilers, water heaters, fixes installations and piping and also the direct action of lightning.
Water damage
This would cover the cost of burst pipes, leaks, escapes and overflows stemming from insured devices and installations. Also covered would be the Location and repair of damages including damages caused by water from other homes. Plumbers charges to locate and repair the damages are covered.
Risks derived from natural events
Material damages caused by the action of rain, storms, frosts,hail, snow, wind and hurricanes are covered. They will either be covered by your insurance policy or the Consortium. If covered by the consortium we will register and present the claim on your behalf.
Flooding
This would cover damages occurred by the flooding of lakes, reservoirs, rivers, streams, canals, irrigation ditches, swamps and man-made surface channels. The flooding due to drains and other similar piping will also be covered.
Vandalism
Any damage sustained to the insured property as a result of vandalism or ill intent.
Breakage of glass, mirrors, marble, granite
Glass and mirrors are automatically covered in your policy and we can offer cover to breakages of the above by including all risk accidental damage to you policy.
Theft with violence, mugging or intimidation
The above covers are all guaranteed when inside the home.
Valuable objects
Any one item is covered up to the amount of 2.000 €, thereafter items have to be itemised on the policy. If one item of jewellery is over the sum of 6.000 € this has to be kept in a safe.
Cash
Cash is guaranteed on a first loss basis but there is a restricted amount according to the policy conditions.
Key and lock replacement
The replacement of keys and locks is covered due to a theft, mugging or mysterious disappearance.
Miscellaneous expenses
All justified expenses incurred due to an accident such as fire brigade expenses, salvage of personal property, replacement of important documents, and temporary accommodation due to the insured home being uninhabitable.
Electrical damage
The repair or replacement of electrical items is covered due to surges or inductions caused by lightning, abnormal currents, short circuits and combustion.
Refrigerated items
Foods kept in the fridge or freezer that are not able to be used due to a malfunction of the fridge, accidental leak of coolant liquid or gases or failures in the electrical supply lasting over 6 consecutive hours will be covered upon confirmation from the electricity supplier.
On all our policies we offer a free DIY service for home improvements and repairs, e.g putting up shelves, curtains, bath accessories, this 3 hours free labour in every one year
Also, IT Helpline includes technology assistance service via telephone or online chat, to help resolve problems with computers, multimedia players and browsers.
All risk accidental damage to buildings and contents is optional. Any sudden, unexpected or spontaneous event caused by circumstances beyond the insured’s control that causes material damage to the insured buildings and contents. On the buildings this would include damage caused by minor tremors/earthquakes that are not covered by the Spanish consortium.
To have have accidental damage on contents their is a minimum amount to be insured of 30,000€
