Home insurance consists of building and/or contents insurance. It can be taken out separately or together, we can help you to decide it.
What does Building Insurance cover?
Building insurance provides compensation for damage such as fire, theft and weather damages or destruction of a home. The most frequent causes of damages are water damage, electric damage and damage due to theft. With our insurance your home is also protected for natural fenomena such as earthquakes or floods, as it includes cover by the "Consorcio de Seguros".
Maintenance-related issues are the homeowner’s responsibility. You will have to ensure that general maintenance is kept up to date in order to ensure payment in case of a claim.
If you have specific cover requirements you can choose a basic coverage or extend your policy to a more comprehensive coverage.
Building insurance covers the structure of the house including fixtures and fittings, together with garages and other external buildings. The insured sum will be the construction cost of the building; this is the full cost of rebuilding the property.
What does Contents Insurance cover?
Contents can be included into the building insurance policy but also as a standalone policy (i.e. when you rent a house). We can help you understand what needs to be covered and ensure that the peculiarity of the Spanish insurance market is understood. For example, in Spain the kitchen belongs to the contents, not to the building. In many cases valuables like jewellery, antiques or works of art will need to be specifically listed on your policy.
In case the insured property is your second home, some insurance companies will not cover certain articles. These articles are expected to be insured through your first home insurance policy or your travel insurance. Hypotienda will help you assess what will and will not be covered.
Garden furniture and possessions kept in your garage or storage are also covered by all our insurers up to a certain amount. This is a standard coverage offered by the insurance companies we work with.
Our insurance policies cover the new value of the damaged items. There are some restrictions based on the age and condition of the items.
Third Party Liability
The building and content insurance includes an automatic Third Party Liability and legal defense for injuries and damages caused by the building, contents or members of the household, including pets.
The basic coverage amount goes up to 300.000€ but can be increased in the most comprehensive insurance covers. This cover is very important in case a Third Party suffers injuries or damages caused by you, your family or your possessions.