You have the option, when taking out home insurance in Spain to take buildings cover, contents cover, or as many do, take both. Depending on what you need home insurance in Spain for, i.e how much total cover, will determine the cost of the policy. It is our job to make sure that we find the best policy to suit you, in terms of price, cover and service should the unexpected happen.
Buildings cover in Spain insures the structure of your property, and all fixtures within. When purchasing a mortgage with a lender, it will be a requirement for them to insist that you get buildings cover for the property that you are buying.
The price that you are quoted for your building cover is determined by the insurable value of the property being quoted for, this differs from the market value of the property. The reason there is a difference between the two values is that you only insure the building and fixtures of the property you own and not the land the property is built on.
Ex-Pat Contents insurance in Spain
The contents cover of a property covers everything on the property that you would like coverage on that does not come listed under the fixtures or fittings, things like Televisions, iPads, iPhones, Sofas, Washing Machines, etc… are covered. The cost of the premium depends on the value of your contents and the level of security that your home has. The better the security, i.e. the harder it would be for someone to break in will determine how low the premium will be.
If you plan to rent out your holiday home to tourists, be sure you get appropriate insurance cover. Here at Expat Insure Spain, we work tirelessly to get you the best deal possible. Simply fill in the quote form below and we will be in touch with you.