As we continue to learn about the differences between Spain and Uk, thought it may be worth sharing the following with you.
Whilst shopping around for our insurance renewal, we found due to the floods which have hit europe in the last 12 months the premiums have gone up quite a bit.
Having shopped around we were going to change insurance companies but then found out...........
Our bank, who we have a small mortgage with in Spain - banco hispania need 2 months notice if we don't intend to renew our policy, it is automatically renewed without necessarily the quote and cooling off period you would expect.
In addition to the 2 months notice, they also need to see sight of the buildings cover proposed to ensure it meets their min. requirements and that they are list on the building insurance as having first interest.
When looking deeper into the above was confirmed by brokers who we had approached for quotes and is standard procedure in Spain and we therefore felt worth sharing as fellow owners start coming up to renewal dates on their insurance.
Hope you have found the above useful.