In Spain, the Seguro de Hogar, or home insurance in English, is necessary to protect your property and your assets.
What types of coverage exist in the country? What are the steps to follow in the event of a claim? Which insurance companies should you favor? Terreta Spain experts answer all these questions.
Definition: What is Home Insurance?
A Seguro de Hogar aims to protect your home and personal property against risks such as fire, water damage, burglary, or natural disasters.
What does home insurance cover?
- Damage to the building itself (walls, roof, floors).
- The building's contents (furniture, electronic devices, jewelry, and other personal belongings).
- Civil liability: damage you may cause to others.
Is it mandatory to take out home insurance in Spain?
No, in Spain, it is not legally required to take out an insurance policy, but it is highly recommended, especially in the following cases:
- The owner has taken out a mortgage (banks require insurance to protect their investment).
- Tenants have every interest in taking out home insurance to protect their property and to cover themselves against civil liability.
- In co-ownerships, common areas are often insured, but this coverage does not extend to the personal property of the residents. They must, therefore, take the necessary steps themselves.
The different types of home insurance coverage
In Spain, home insurance policies generally offer three levels of coverage:
- Basic coverage that covers damage caused by fires and certain natural disasters.
- Intermediate coverage that also includes theft, vandalism, and certain accidental damage.
- All-risk coverage that offers the most comprehensive protection.
What is the procedure to follow in the event of a loss?
If you are facing a loss, here are the steps to follow:
- Immediate notification: contact your insurer as soon as possible.
- Filing a complaint: in the event of a burglary, file a complaint with the authorities before contacting your insurer.
- Collecting evidence: take photos or videos of the damage and keep the police report.
The advice of Terreta Spain's experts
Our experts advise you to choose your insurance carefully. Don't rush.
- Take the time to assess your needs, based on your situation and that of your home.
- Compare offers online.
- Check the insurer's reputation by looking for customer reviews.
Documents Required to Obtain Home Insurance in Spain
- A NIE (Foreigner Identification Number). To learn how to obtain one, see our article on the subject.
- If you are an owner, you will be asked for the cedula de habitabilidad (link to file once online).
- If you are a tenant, you will need to provide a copy of the lease agreement.
Insurance companies recommended by Terreta Spain
- Allianz, one of the world leaders in the sector
- Mapfre, which has a solid reputation in Spain
- Tuio hogar, one of the least expensive on the market
Our tips for reducing your insurance policy
- Consider installing an alarm system.
- Combine several insurance contracts (home, car, health) with the same insurer.
- Increase the deductible to reduce the monthly premium.
Conclusion
As you will have understood, although it is not compulsory, home insurance is strongly recommended to protect your property, your home, and to avoid significant financial losses in the event of damage.
Sources: Mapfre
