All of us expats who have bought or rented a home in Spain have encountered a second phase of formalities and contracts, such as home insurance, once we have purchased the home. And, depending on your situation, you must take several factors into account.
Normally, expats I know who seek an estimate for their home insurance have two, very different, types of dwelling:
- Visitors who own a summer home and want an estimate for home insurance offering the minimum cover as they spend very little time there
- Visitors who have moved either temporarily or permanently to Spain and use their home daily and therefore seek quite comprehensive home insurance.
What to bear in mind when requesting an estimate for home insurance on a summer home
Many expats think that because they use their house very seldom, usually in the summer months as a holiday home, home insurance should be very simple. But, paradoxically, I’ve always believed the opposite. Normally these are houses that are left unused, with little security and often with neighbours that do not know us, or even our contact details. In the case of a home located in area that is quite uninhabited outside the holiday months, perhaps you should consider insurance that guarantees quick and appropriate action in the event of robbery or damage.
Or, for instance, imagine that you have a water leak and there is no-one there to look the house over for a few days. Damage is likely to be extensive and you will need insurance that takes care of all the formalities and is able to deal with the situation according to your wishes, since getting to your home is often not easy.
What to bear in mind when requesting an estimate for regular home insurance in Spain
In this case, many expats with homes in Spain run into difficulties due to the wide range of policies on offer. The insurance market in Spain offers the customer a broad range of possibilities from very economical policies of dubious quality to comprehensive ones with companies offering good cover.
In our case,we wanted to look at the policy offered by SegurCaixa Hogar Completo, which, in my opinion, covers everything necessary for an expat in Spain:
Firstly, I have always said that the value proposition of CaixaBank for expats in Spain is HolaBank, or a huge variety of similar products and services catering for expats from one of the leading providers in Spain. One of the most important aspects of all this is that they are able to offer you products and services in your own language, negating the language barrier from the beginning. This is crucial because with complicated products like insurance, one of the keys to finding the right one for you is to fully understand each one of the contract’s clauses.
For this reason, along with being one of Spain’s insurers that for me inspires most confidence, I think that its home insurance in Spain is among those that you should consider. In addition, they offer insurance that takes effect when you choose (up to one year) and you can decide which payment schedule suits you best (weekly, monthly, quarterly or annually).
Finally, I believe it is important to remember when making your decision that, for expats like us, it is usually better to ensure you have the policy you deserve in your new location and that you won’t have any problems resulting from a claim than to save a few Euro on one that isn’t worth it. So as you already know, choose carefully, but take into account how much your peace of mind is worth.