How much does home insurance cost in Spain?

Housing question always comes with the insurance question. Not compulsory in Spain, a lot of people subscribe to an insurance to be covered in the event of a problem. Here is the data to take into account to calculate your home insurance premium, in other words, the amount you will have to pay to benefit from protection in the event of a claim.

Owner or Tenant ?

The tenant insures the risks relating to his person and his personal belongings: furniture and goods. On the other hand, the owner must also insure the walls of his home, the building itself.

This is why your home insurance premium is generally higher if you are a homeowner.

Primary or secondary residence ?

Do you have accommodation in Spain but are not domiciled there? Your accommodation is therefore a second home. In a second home, the risk of theft increases since you live there less often. This is why insurance will cost you more if the home you own is a second home and not a primary residence.

Urban or rural area ?

The amount of the home insurance premium in Spain also varies depending on the place of residence . The premium increases if you live in a risky area, near a petrol station for example. On the other hand, the premium is lower in urban areas for example, which are more quickly accessible for firefighters.

How many rooms ?

The premium is calculated based on the size of your home. The more rooms you have, the more the premium will increase.

What capital ?

Thieves are more attracted to valuable paintings and supplies from an older home than to second-hand IKEA furniture. Thus, the higher your movable capital is, the more the premium will also increase.

These rules, valid in Spain, are the same as in other countries. Most home insurance works the same wherever you are, with a few little differences to consider. If you have any doubt, you can turn to our specialists. Call us at at +34.93.268.87.42 or whatsApp +34.627.627.880 or you can send us an email at welcome@inovexpat.com.