Fire, water damage, burglary, natural disasters... Don’t be left uncovered when something unexpected happens! Home insurance covers the home itself, the content and civil liability for the occupants. .
Home insurance is not mandatory in Spain; however, it’s strongly advised. And you should never forget the importance of civil liability cover. In fact, home insurance covers your liability for damages caused to third parties.
In any case, the common areas of co-property must be insured. This insurance is more than just simple protection; it gives you peace of mind in your home whether you own or rent.
If you rent, taking out an insurance policy that will protect your movable assets and give you civil liability cover is highly recommended. The owner should have home insurance covering the structure; however, this is not always the case since this type of insurance is not mandatory in Spain.
For this reason, including first loss cover for the structure is advisable in order to prevent any potential conflicts with the owner or any neighbours in the event of an accident. This optional guarantee means you will be covered against any damages that may be caused to the structure even if you do not own the home.
All home insurance policies include civil liability. This is one of the main guarantees in any policy and covers your liability in the event of physical or material damages caused to third parties. It’s one of the reasons why home insurance seems so essential.
What influences the premium: Various elements will influence the sum of your premium:
- The surface area to be insured
- The capital of the structure to be insured
- The capital of the belongings to be insured
- The value of the belongings whether it is aprimary, second or rented residence
In Spain, home insurance is not mandatory. Home insurance is mandatory only if your property is mortgaged. In this case, the owner must have insurance covering fire damage at a minimum.
In 2015, the Ministry recorded 113,452 burglaries throughout Spain. The number of thefts in the first quarter of 2016 totalled 31,154; which is an increase of 7.7% in comparison to the same period the year before.
The average booty is 643 euros when it comes to theft in Catalonia. A figure above the average in the country, which is 480 euros. Moreover, Catalan homes are 28% more likely to be burglarised than any others.
As concerns Barcelona, a recent study by Unespa determined that the Ciutat Vella, Eixample and Gràcia neighbourhoods are the most at risk of burglary.