Buildings Insurance Spain
About Buildings Insurance in Spain
The following are some important points relating to buildings insurance cover in Spain:
Buildings Cover is a necessity, as not having cover can lead to financial loss and no
home to live in.
Buildings insurance covers any damage to the actual structure of the building and
any fixtures in that building. Usually, anything considered to be part of the building
are things that cannot be physically moved when moving house. Items such as
windows, baths, fixed lighting, piping, flooring, built-in wardrobes, doors and solar
panels are all covered under the buildings section of a policy. More obviously tennis
courts, pools and gardens also fall into this category.
Here in Spain, banks and mortgage lenders will insist that you take out buildings
cover to cover the mortgage. This is their way of protecting the money that they
have invested in your home.
Buildings cover can be estimated by considering the cost to re-build the same
house. As a general rule of thumb, take the number of square metres of the
property you are insuring and multiply that by the price per square metre for the
given area and property type.
Third Party Liability: When purchasing buildings cover, most policies will also have a
sum insured for third party liability cover. Take out the maximum you can afford.
Third party liability covers any damage caused to others (by the insured) be it bodily
injury or material damage. Some policies will include possible damage inflicted by
any member of the insured’s family living within the household or even a pet, to a
third party. It will not cover damage to the insured or insured’s family or materials.
Check out the liability cover – there are huge differences between the amounts
If you have any further questions, please fill in the form on the right to receive a personal quotation.