Home Insurance in Spain

WHAT IS HOME INSURANCE SPAIN?

Home insurance in Spain is vital if you have bought a property in Spain. The value of your home is likely to be substantial and it needs protecting in case of natural disasters, theft, break-ins and many other circumstances that you probably can't even imagine that that may unexpectedly occur.

Once you have purchased your home in Spain it is very easy to get distracted with the joys of using it and furnishing it but once the home buying process has been completed don't make the mistake of not following through and getting adequate home insurance.

Below we have a guide to the different types of home insurance in Spain as well as guidance and advice on who to contact and where to obtain the cheapest home insurance quotes on your home in Spain.

We pay particular attention to recommend only the home insurance companies and insurance brokers who can assist you in English and offer policies that you will understand in plain English.

TYPES OF HOME INSURANCE IN SPAIN

Buildings 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 the physical home in Spain, should it need to be fixed or replaced in the event of catastrophes such as flood, fire, land slides and other natural disasters.

If you have a bank loan or mortgage in Spain, it will be compulsory to have adequate Spanish buildings insurance so your lender is protected should anything happen to your home. Whether you have a mortgage or not, buildings insurance in Spain has got to be considered essential.

Home Contents Insurance in Spain

Spanish home contents insurance is the insurance that you take out for the removable items inside your home in Spain. These include your personal effects, valuables and possessions. Examples of items you can expect to be covered under your home contents insurance policy include, anything removable that you would tend to take with you when you move home such as curtains, television sets, clothes, DVDs, jewellery, washing machines, dishwashers etc.

Holiday Home Insurance in Spain

Should you buy a home in Spain and you intend to use it as a second-home and as an investment by letting it out by doing holiday lets or rentals or perhaps renting it out on a long-term let basis then you will need special holiday home insurance for your home.

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 Spanish 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 etc.

Community Insurance in Spain

This 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 (your home contents) are not insured by the community charge.

5 WAYS TO GET CHEAP HOME INSURANCE SPAIN

We often receive e-mails asking us - Where can I get the cheapest home insurance for Spain? or Which company has the cheapest Spanish home insurance?

It really is impossible to give you one insurance company name because depending on the location of your home and the exact specifications and details of what you want to insure, you will get different quotations from different Spanish companies and brokers. Having said that below we list six ways to help you lower your premiums for home insurance in Spain.

1. Insurance brokers save you time and money by comparing quotations from many different Spanish home insurance companies. Brokers can go directly to their sources at the leading Spanish home insurance companies and get special rates that you are not privy to.

Good insurance brokers to contact regarding home insurance in Spain include Knight Insurance and Abbeygate.

Companies offering home insurance Spain include Liberty Seguros, Línea Directa in English, Ibex and INOV.

2. Do it yourself. Shop around for the cheapest home insurance in Spain by using Internet price comparison websites where you put in your property details and circumstances and within seconds you get the lowest home insurance quote.

3. Consider whether you should not claim, because you run the risk of increasing your premiums the following years because you have lost your no claims discount.

4. Don't pay your Spanish home insurance in instalments, instead pay it in one go.

5. Increase your excess. By taking an increased risk and raising your excess on your Spanish home insurance policy, you will lower your annual premiums.

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