Property insurance - is not a way to spend money, but real protection of property against unforeseen circumstances. Buying property in Spain, you should use this option.
The law of the Kingdom does not oblige to insure the purchased housing, this is the initiative of the owner. There are three types of insurance:
- minimal;
- full;
- extended.
Each of them includes a number of incidents that are included in the standard set. So, the minimum insurance includes:
- Indemnification in case of fire or flood.
- Legal support 24/7.
- Civil liability – if the client of the insurance company flooded the neighbors, the insurance company sorts it out.
If the amount is limited, you can use this set.
Real estate insurance
Full insurance includes, in addition to the items listed above, protection against theft and robbery on the street. The insurance company will protect its client and compensate him for losses in the event of such an accident.
Extended insurance includes one more – loss of rent. All-inclusive insurance will reimburse his client for lost funds.
As for the cost of insurance, they directly depend on the following factors:
- housing type;
- area where housing is located;
- year of construction;
- housing area;
- mode of residence (permanently or in summer).
The cost of the housing itself is automatically determined by the calculator after entering the required information into the system. This amount may be lower than the one for which the apartment, villa or chalet was bought.
Any insurance contract is concluded for 12 full months. If the client does not wish to continue insuring housing or wants to terminate the contract for another reason, he is obliged to notify the insurer about the termination of cooperation one month in advance.
If the homeowner does not have the opportunity to insure his property on his own, he can always contact the employees of Alicante Real Estate for help.
