What insurance do you need if you buy a house in Spain?
04.11.2023Whether you move in yourself or rent it out as a holiday home, you want your dream home in Spain to be well insured. Home insurance is even mandatory if you have taken out a mortgage with the bank. You can choose to insure just the home, just the contents, or both. You also have additional insurance that you can take out to protect your apartment or house in Spain.
Can't you see the forest for the trees anymore? Below we tell you everything about the most important insurance policies in Spain.
Home insurance or building insurance in Spain
Home insurance or building insurance protects your home against damage caused by fire, lightning and storms, but also against theft and burglary. It is always best to check whether water damage is also covered by your insurance. This is usually the case, but not always.
It is important to know that with home or buildings insurance, not only your house itself is insured, but also everything attached to it. Consider, for example, windows, plumbing, the built-in appliances in your kitchen, etc.
In principle, you are insured for the amount that would be needed to rebuild your home. Be sure to provide all the characteristics of your home, such as the number of square meters, year of construction and security.
Home contents insurance in Spain
It is not mandatory to insure the contents of your home in Spain, but it is recommended. Especially if you do not live there permanently, it is good to play it safe.
Contents insurance covers damage to the entire contents of your home. Have your furniture and belongings been damaged by fire, water, burglary, etc.? Then the home contents insurance covers the value of your belongings.
Good to know: in Spain, personal liability insurance and theft outside your home are also included in the contents insurance.
Home liability insurance in Spain
In Spain you are required to take out liability insurance. This insures you against financial damage or physical injury for which you or someone in your family is liable. For example, consider storm damage to your house in Spain where one of the loose roof tiles hits a bystander.
Liability insurance for a house in Spain also covers damage caused by third parties, such as tenants.
Liability insurance is usually included in the building insurance. But we recommend that you definitely check this carefully.
Possible additional coverage for holiday home Spain
In addition to the standard insurance, you can also opt for some additional coverage. In concrete terms, it may be interesting to insure yourself against:
- Loss of income: this is interesting if you cannot rent out your holiday home in Spain because there is damage.
- Travel costs: this is interesting when you are forced to travel to your holiday home last minute because something happened.
- The work in your house: this is interesting when you employ domestic staff, such as gardeners or cleaners.
Of course, you can choose any additional coverage for your holiday home in Spain which may be interesting for you and which may not. The most important? That you feel well protected against setbacks and can enjoy your second home without worries!
Want to insure your Spanish dream home? Feel free to ask us your questions about insuring your second home in Spain.