For every person, a house is a fortress and refuge. A reliable and affordable way to keep it safe and sound is insurance.
There is no more reliable means that would protect against the loss of real estate due to natural disasters or other troubles.
Insurance of a house or apartment in Spain is the simplest and most effective way to protect against financial losses, which allows you to look to the future with confidence.
In the event of an insured event, whether it is a fire, pipe burst, breakdown or any other emergency situation, you need to notify your insurance agent, it organizes and coordinates the company's actions, assesses the damage and determines what work needs to be done to eliminate it.
After that, the site will arrive representatives of the repair or construction company and carry out the necessary work. If the house has a particularly valuable or collectible property, when insuring real estate in Spain it can be included in the inventory list. Thus, the amount of insurance payments in case of loss of these things will be increased, the amount of contributions will also increase.
When mortgage lending, real estate insurance to protect the interests of the bank is a prerequisite, which is displayed in the bill of sale with a mortgage.
If real estate in Spain is acquired for the purpose of profitable investment of funds or is used for living during the holiday period, it is very important to correctly determine the insurance coverage. The amount should include property restoration costs, which are often below market value. This takes into account all the buildings for household purposes, gas pipelines, internal fuel tanks, terraces, tennis courts, swimming pools, wall ceilings, gates and fences.
To calculate the cost of restoring the object when insuring a house in Spain, the appraiser takes into account all factors and assesses the property. It is important that the costs and risks are determined correctly. If the insurance capital is undervalued, it is impossible to get a refund that will cover the losses.
If the property insurance in Spain is part of a residential complex or apartment building, the fee may include protection against losses caused by third parties (neighbors) and a claim for damage (to a construction company or a residential partnership).
It must be remembered that the cost of the policy depends on the type of real estate, insurance premiums, security measures and guarantees.