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The building cover will be based on an insurable value for your property, which is not the same as the market value for your property . The building and fixtures are insured, not that land your property is built on, which explains the difference. Your insurance policy will be based on what it costs to rebuild your property, not what it would cost to buy it anew. To calculate this ‘rebuild’ value, insurers use standard tables of building costs per square metre. The higher the building specifications of your property, the higher the insurable value, and hence premiums. In Spain, liability insurance is normally part of your home insurance.
First, think about the type of property you’ll be using as your holiday home. If it’s a villa, for example, you’ll need holiday home insurance for the property itself, as well as any contents . If it’s a chalet, you’ll only need to worry about holiday home insurance for the chalet itself – contents coverage won’t be necessary. For people who rent a home, home insurance will cover furniture, personal effects and civil liability . Customer experience management, communication, languages, automation of processes and agile administration.
Our team of experts will advise you on the insurance cover that is best suited to you.
You can usually buy building insurance (seguro de construcción) in Spain as a standalone policy. Some companies may list it under home insurance and sell it as the basic policy option which covers the property structure but not the contents. If your rings or watches are misplaced or lost whilst on holiday, it may be covered by your travel insurance, but is not covered under any house insurance policy in Spain.
Seviour Insurance provides Home Insurance quotations for all types of properties, from large villas and fincas to studio apartments for expats. Our team of experts will advise you on the insurance cover that is best suited to you. The costs of repair may not exceed the sale price of the product.
Cancel your bank insurance policy.
It can also cover damage to the property, loss of possessions, and even injuries to people who are visiting your home. Most holiday home insurance policies offer cover for theft, damage, and liability, but some also include cover for loss of rent, loss of use, and even evacuation costs. Our house insurance policies do not have a first excess charge unless you are making a claim for garden furniture (€150).
When you buy or sell property in Spain the sums of money are large, perhaps one of the biggest financial decisions of your life. The high transaction costs you will face like taxes and commissions only make the decision more important to get right. And when you own property in Spain you face a host of extra challenges to manage, and costs to control. Unfortunately, the Spanish property market is opaque and full of pitfalls, and notoriously unprofessional.
How long can I leave my property vacant in Spain?
By taking an increased risk and raising your excess on your Spanish home insurance policy, you will lower your annual premiums. A bit of time spent researching and a few phone calls and e-mails to brokers or directly to insurance companies can save you literally hundreds of Euros in just one year. Knight Insurance, INOV, Abbeygate, The Insurance Centre and IBEX are some notable insurance brokers in Spain which offer their services in English.
If in doubt go to an English-speaking broker or English-speaking insurance company offering home contents. When it comes to claiming on your policy you need to be very careful that there are no exclusions which the insurance company can use to get out of paying out on the claim. This could include a guest if you are renting a property or a workman or delivery person, literally anybody who has an accident on your property could potentially sue you for medical costs and damages.
Calculating the contents value of your property.
There are a few key differences between holiday home insurance in Spain and elsewhere in Europe. For starters, holiday home insurance in Spain is typically much more expensive than in other countries. This is due to the high level of security and protection that Spanish holiday homes enjoy. Spain is one of the most popular tourist destinations in Europe, and holiday home insurance is essential if you want to protect your property while you’re away.
However, there are an estimated eight million homes across the country without contents insurance. All risks insurance cover, sometimes known as personal possession cover, is designed to protect those items of a personal nature that you are likely to take outside the house, on holiday or overseas. Index linked property insurance is designed to link the value of your property to a system that calculates rebuilding and replacement costs on an annual basis and reflects the true market value of those costs. Index linking takes into account market fluctuations and keeps your insurance at a value that is current and correct and agreed by insurers. It also means that you are paying too much for the cover required for your home insurance. You can save money by evaluating your property and contents properly and then in the event of a total loss you will be re-imbursed for the total value.
When you underinsure, if you lose everything you won’t receive enough to replace your losses. We review each and every application on a personal, case by case basis, customising your specialist Home Insurance to meet your individual needs! Our highly trained Home Insurance specialists will provide you with a fast, friendly, and professional service at competitive pricing.
Therefore when searching for property insurance in Spain they are inclined to search out insurance companies or brokers who provide services in English, as well as policies, worded in English. Nevertheless, Spanish holiday home insurance is still a good option for tourists who want to protect their homes. In most cases, the insurance will cover any damage that is caused to the home, including theft. Spain is a popular tourist destination, and many people choose to holiday in homes that they own or rent.
Despite its popularity, Spain is also a country with a high crime rate. Therefore, it is important to take into account the risks that come with travelling to Spain and to ensure that you are adequately protected while you are there. Spain is a popular tourist destination for people all over the world. Many people come to Spain to enjoy the beautiful scenery and the warm weather. However, many people also choose to stay in a holiday home during their trip. No matter where you live in the world, there are certain holidays that are celebrated with great fervor.
Not all will have the same type of cover and in most cases they will only be trying to find the lowest cover possible for the minimum premium. Invariably, most people end up contracting a second policy to cover the items that the Banks do not cover and hence you could end up paying twice. For good reason most insurance companies see holiday homes as higher risk.
Caser Home Insurance takes all these unexpected situations into account. We will turn your house upside down to find the source of the leak, but this Coverage guarantees that we will leave it just as it was before. Explosions caused by unknown substances or unknown appliances which are not part of the usual heating system. For example, boilers or heating appliances that use materials which do not comply to regulations and that have caused an explosion.
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