24 Jul 2009 6:15 PM:

“The premiums are cheaper, but the cover is lower. I think you pay for what you get”

 

You summed it up. Insurance is expensive until a claim arises, then you will discover how good a policy is. If a cheaper policy offers less cover, then the insured takes the risk that an event may not be covered. That’s why it is essential to understand any terms of a policy to see what’s covered, any restrictions etc. Don’t just buy on price.

 

Although some Spanish policies traditionally offer low liability levels, each policy will differ and the insurer may offer the option to increase the level for an extra premium.

 

With experience, liability claims are not as frequent as say theft and bursts, but if you are liable for injury to a third party, things become very costly. £2m sum insured would be a minimum recommended.

 

There are also other considerations. Does the public liability extend to cover paying guests, use of swimming pools?

Thread: Building and contents insurance

--------------------------------------

11 Feb 2009 10:39 AM:

If your Spanish home is part of a complex or apartment block your condominium fees may include community buildings insurance. Each policy differs but often this cover is limited to communal areas such as walkways and swimming pools. You may find that this does not cover your individual apartment, including ‘fixed items’ such as fitted bathrooms and kitchens.

 

To avoid being underinsured, you should check what the community policy actually covers before you decide you do not need buildings insurance. If necessary, insure your individual property.

Thread: Building and contents insurance

--------------------------------------

19 Aug 2008 12:24 PM:

Hi,

If you plan on holiday letting, even to friends, third party liability insurance is essential as accidents happen, and if they do you don’t want to be held legally (and financially) responsible for any injury to third parties.

If for instance a holidaymaker falls off a damaged chair or slips on wet tiles and decides to take you to court and sue, you could face a legal battle and the prospect of compensation for loss of earnings. Liability insurance enables you to safeguard yourself from any legal hassles that are associated with renting out your property.

Be aware that some policies have a low liability limit of £100,000 cover, which is insufficient as personal injury claims and court costs can run into the millions. Check if the insurer offers a facility to increase the liability limit. A minimum indemnity limit of £2m is recommended.

Hope this helps.

Thread: Latest photos

--------------------------------------

23 May 2008 1:23 PM:

Its good to hear you got your claim resolved quickly.


Thread: house insurance

--------------------------------------