Community Insurance in Spain: All you need to know in 6 questions
Communities of property owners and building is exposed every day to multiple risks which require the availability of urgent and necessary services to face them. It is therefore important to take out insurance, called in Spanish “seguro de comunidad” for the peace of mind of all neighbors.
What does Community insurance cover?
Community insurance (also called communities and buildings insurance) covers risks which damage the habilitability and confort which all comunities must provider to ther owners and families.
The insurance protects the common parts of a building and the civil liability of the co-ownership.
Is Community insurance compulsory in Spain?
In Spain, communities and building insurance is not compulsory at national level, although it is strongly recommended. According to the Horizontal Property Law (LPH):
Art 9: “it is necessary to have a reserve fund; an annual sum to cover conservation and repair work on the building or work resulting from fires or floods. ”
With the reserve fund, the co-ownership can sign an insurance contract covering the common parts. Although at the state level no law requires it, there are specific regulations in some provinces as Madrid and Valencia.
Does Communities and building insurance cover my apartment?
No, the community insurance ("seguro de comunidad" in Spanish) does not cover damage to your flat. For this, you must take out a home insurance policy. You can request a quote by clicking here
The communities and building insurance will cover claims in the common areas. Your home insurance will cover damage to your personal content and your liability insurance.
Is water damage covered by the Community insurance?
As a rule, most insurance companies include water damage caused by water mains in their basic coverage. Coverage for private pipes is optional.
What are the main covers?
The basic covers are as follows:
- Civil liability: for damage that may be caused to third parties (for example: slippery staircase, falling tile causing damage to a third party, etc.)
- Material damage, such as fire, explosion, lightning or atmospheric phenomena,
- Water damage
- Communities assistance: include a 24/7 assistance service, 365 days a year
- Pest control, fumigation and disinfection services: 1 full service / year (with revision every 6 months) to eradicate the proliferation of cockroaches, moths, rats, etc., in the various common áreas.
- Unblocking communal pipes
- Glass breakage or mirrors in common áreas
- Legal defense
Who should subscribe the community insurance?
It is the Communities of property owners and building which must take out the insurance "Comunidad". If in the statutes of the community established that the subscription of an insurance policy is compulsory, any owner may require that it be taken out by community.
How much does the Communities and building insurance insurance cost?
The insurance premium varies depending on the optional cover included but it can vary between 70 and 150 euros per year and per accommodation.
You can request an insurance comparison for your building by clicking here
If you don't have Community and building insurance yet, don't hesitate to ask us for a comparison of the best Community and building insurance here.
Where can I get the best Community and building insurance?
That's an easy one! If you want to compare the best insurance companies and get an effective and quick service with English speaker specialists contact us!
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