Insurance |
|
| |
|
We know that many clients need help in negotiating the Spanish insurance market and would like products similar to those available in the UK. Please find listed below several insurance policies that will be of interest to you. We can also assist you with more information on specific insurance requirements if you are wishing to rent out your property out in Spain. Please contact our management team on +34 968 58 0914. Home Insurance in Spain For many people their biggest asset is their home and as a home-owner building and contents insurance is essential. Even if you are renting a property in Spain it would be wise to insure your contents. Insurers now offer a range of covers to suit the specific requirements of this market. Standard comprehensive policies are available which include public liability insurance. Some insurers are now extending these to include "all risks" and accidental damage cover. Home insurance policies in Spain are generally on a "new for old" basis and it is important that the contents sum insured reflect the replacement value. The building sum insured should be the rebuilding value for buildings. Rebuilding costs have risen dramatically in Spain over recent years and it is important that your rebuilding sum insured is realistic or any claim may be reduced for this. As a rough guide your rebuilding sum insured should be about 1,500 euros per M2 of your constructed property. If you rent out your property make sure that your insurers are aware, and check that you have adequate public liability cover as a landlord. Many people who live in communities assume that their community policy will provide cover in the event of damage to the buildings. This is not always the case and advice on this point or any other matter should be sought from your insurance adviser. Public Liability Insurance in Spain Following recent court awards and the effects of September 11 2001 interest and pricing in the public liability Insurance sector have increased dramatically, but limits of indemnity are still low compared to UK. Typical limits are 300,000 € (about 210, 000 Pounds Sterling). Most port authorities require public liability insurance for companies working in port areas in Spain. Many yacht owners will not allow suppliers or contractors entry onto their boats without sight of a public liability insurance policy. Life and Pensions Insurance in Spain Life and pensions cover in Spain is just as important as in UK, but many people seem to forget about such matters when they head for the sun. Most insurers offer reasonably priced life cover with many policies being issued on a yearly renewable basis rather than a term of say 10 or 20 years. This provides you with the option to stop the policy at any time during the term without the loss of high initial payments. If you or your spouse should die could the surviving partner afford to stay in the family home, pay the school fees or the normal daily bills? All types of savings and pension plans are on offer. Guaranteed no risk options are available as well as alternative plans with high, medium and low exposure to risk. It is important to plan for your future and to make arrangements to protect your family in the event of death, serious accident or illness. Personal accident and illness policies are available and should be given serious consideration particularly if you are self-employed. Health Insurance in Spain As in the UK many people in Spain prefer to rely on the private medical sector to look after their health insurance needs. In fact if you wish to become resident without a work permit or want residency and are not from the EEC you will be required to produce evidence of health insurance. Both national and international plans are available for individuals, groups and companies. Motor Insurance in Spain In Spain as in UK car insurance is compulsory by law. Fully comprehensive policies are available for vehicles of all ages, with discounts for named drivers and own damage waiver/excess. Third Party fire and theft policies are also available. With the incidence of theft losses increasing over recent years this cover is being taken out more often in preference to third party only policies. No claims discount of up to 65% is available on Spanish car insurance. Most Spanish motor insurance policies include full European roadside assistance. The cost of hire cars following an accident can be included under some policies but this is not always standard. Travel Insurance in Spain When travelling from Spain it is important to takes travel insurance with you. These policies offer a wide range of cover. These include medical and repatriation expenses, personal accident, cancellation, curtailment, loss of personal effects, loss of money, personal liability, travel delay and cover for winter sports. Precise cover varies with each insurer. If you have taken a policy through a travel insurer in UK check that the policy will work if you are not UK resident. Golf Insurance in Spain Golf in Spain has become increasingly popular over the last few years. With the good climate and cheap flights from the UK it is easy to see how this appeals to golfers. Golf insurance is inexpensive with policies starting from 76 euros this would provide cover for damage or theft of your golf equipment, personal liability on the golf course, personal accident and “hole in one” expenses. |
|
