05 Nov 2010 14:11:
Hi david & ellie,
We completed on Condado in September 2009 and took out buildings insurance with our Spanish bank when signing at the Notary office. We have since found out that the buildings cover is included in the community charges and have not paid the renewal premium to our bank this year. We did have to get the community administrators, Mileniun-Levante, to send a copy of their buildings insurance policy to our bank for them to confirm that the cover was sufficient. Our bank accepted the community policy and we did not have to renew with them.
It may be a condition of the mortgage that you have to insure with them for the first 12 months?
We sorted our own life insurance out with a company in the Uk, although our bank did take money out of our account for this insurance. They did refund it as soon as I notified them that we did not require it.
Don't recall anything about 'title insurance'.
You may want to consider contents insurance when you have completed and start furnishing. This year we used the community administrators to sort out our cover at a very good price.
Thread: Condado - New Purchase