HOUSE INSURANCE IN SPAIN: ADVANTAGES
THE KEY TO HAVING A GOOD HOME INSURANCE FOR YOUR PROPERTY
Dear clients and readers,
Have you just acquired a Property in Spain? Or do you already own a dwelling?
In the affirmative case, in order to be safe than sorry, we strongly advise you to you hire a comprehensive home insurance policy, as that will give you complete peace of mind, in the event of a possible claim.
Therefore, we would like, if we may,- to take this opportunity to respond in this post to some of the most frequent questions posed by our clients, regarding the crucial importance of having a Home Insurance Policy:
WHY HAVING A FULLY COMPREHENSIVE INSURANCE IS SO IMPORTANT?
A property is a great investment, not only because of the inherent price of the property but also considering all the valuable goods inside it, (that considerably increase the value: i.e. appliances, furniture, jewellery, etc). Therefore, in order to protect your home against any unforeseen event, there are insurance policies with different coverages and prices. Normally, they are ranged based on the building, content and civil liability.
IS HOME INSURANCE MANDATORY?
In Spain, insuring a property is not mandatory, but highly advisable.
WHAT IF YOU NEED TO APPLY FOR A MORTGAGE?
Most banks require home insurance as an essential requirement to grant a mortgage. However, there is a law by which banks cannot force you to take out insurance with them. Be very careful because some Spanish banks might recourse to blackmail tactics!
HOW IS THE COST OF INSURANCE DETERMINED?
The value of the building, the coverage and the belongings establish it. But, it is essential that you get advice from an honest and reliable source. Otherwise, you may not be fully covered in the event of an accident as has happened to several clients who have come to our firm looking for advice!
WHAT ARE THE MAIN REASONS FOR INSURING YOUR HOME?
In a nutshell, the kind of situations that can lead you to take out home insurance can be any of the following:
· Fire or explosion: Although the chance of a fire or explosion occurring in your home is low, it can happen. In that case, who bears the costs? Your home insurance.
· Material damage: Home insurance also covers material damage resulting from certain events. For example, a broken pipe that leaves you without furniture, a power surge that damages an appliance, etc.
· Civil liability: any third party can inadvertently damage your home. For example, imagine there is a water leak. In that case, this coverage includes everything related to the damage you may cause to a third party as a result of this event.
· Legal defence: a coverage that we find in home insurance, involves having a lawyer at your disposal who can be helpful in some cases.
IN CONCLUSION, A FULLY COMPREHENSIVE INSURANCE POLICY
Under a fully comprehensive Home Insurance, you will receive the following cover:
1).- Fully comprehensive accident insurance. The Goal: “To cover all accidental damage to your home´s property.”
2).- Emergency health care assistance. “For insured parties due to a domestic accident.”
3).- Comprehensive legal defence. “Property & Leasing Rights.”
As well as increased insured sums for cover such as:
· Civil Liability
· Aesthetic damages
OTHER ADDITIONAL HOME INSURANCE BENEFITS
Given its comprehensive nature, this insurance provides major benefits, such as the most comprehensive home assistance:
· Repair Services due to the mechanical, electrical or electronic malfunction of white goods located in the insurance home.
· Free home DIY service, under which installers will provide customers with certain services. Personalized assistance service, data recovery and backup services. Possibility of having technicians come to your home and repair equipment at special rates.
· A Legal advice hotline to answer all legal questions.
· Medical Advice Service for health-related questions.
· Specific benefits for covered claims, such as uninhabitable of the property, document replacement and other expenses: extinguishing, debris removal and firefighter assistance.
WE ANALYZE YOUR POLICY AND GET YOU THE BEST PRICE
Buying your Home Insurance based solely on price may seem like a good idea. Nevertheless, it may also leave you with poor coverage and at risk of being underinsured. In that case, be careful as you may end up paying more in the long run for not having enough cover when you need to submit a claim!
At BZN Lex INTERNATIONAL LAWYERS we would like to advise you on the best home insurance with the most proper coverage that you will need and at the best price.
Hire Home Insurance and enjoy your home with complete peace of mind. As you will have access to the best cover and care services in the event of an unforeseen circumstance inside or outside your home.
The Insurance Policy covers any property damage to which your home may be subject, the furniture and possessions contained in your home, as well as the civil liability and health care of the insured parties. Water damage, fire, broken windows, aesthetic damage, theft, robbery, subsidence, etc, etc
HOW TO CONTACT US FOR FURTHER SPECIFIC ADVICE?
We hope this information is useful. Remember that this is not intended to be specific legal advice, just a general overview. As independent lawyers, we can help you both by assisting you to pre-empt most tenancy issues as well as to oversee a tenant eviction procedure, if required.
Should you be interested in receiving more specific information, (either about this particular insurance subject or any other), you can contact our firm in several ways:
1).- Call us or send us a WhatsApp now at (0034) 687 88 88 73.
2).- You can also use our e-mail form at the top of the sidebar of your screen, or alternatively, you can send us an e-mail to email@example.com
Our commitment, we’ll respond to your e-mail inquiry in less than 24 hours.
We are on social media. Please follow us on the:
a).- Facebook: BZN Lex International Lawyers@oscarricormorales7
b).- Twitter: https://twitter.com/BznLex
c).- and linkedin.com/in/ricorabogados
Finally, thank you very much for your attention, and in case you might have any questions or doubts at all, again please do not hesitate to contact us. We will be glad to help you!
We look forward to helping you and the benefit of our “know-how”.
Mr Oscar Ricor
“NON-PRACTISING ENGLISH SOLICITOR IN ENGLAND AND WALES”, under the “Solicitors Regulation Authority” (SRA) SRA number 519196 and practising Spanish Solicitor.