Insuring a car in Spain, is not such a user-friendly process as it is in the UK, where you can get an online quote in minutes from any number of companies.
For example, in Spain, though you may be able to spread your payments in three amounts over the first three months, or by two six monthly payments, companies do not offer monthly direct debits for example. Though fully comprehensive and 3rd party fire and theft are offered as standard options, no claims bonuses are less favourable and generally offered as smaller percentages.
You might be surprised how many companies do not even send out yearly policy statements and renewals if the policy automatically renews with them. Cancelling a policy, often entails notifying a company 3 months before the expiry date and stories are legion of an insurance company being notified but still processing the policy.
If you do not speak fluent Spanish, you are strongly advised to find a broker who does speak your native tongue, or to use an intermediary who can act and negotiate on your behalf. This can be especially useful in the event of a claim which can also be a tortuous process.
In dealing and helping with house insurance claims, one of the things we notice most, is that people may have a policy in place, but it´s not tailored to their needs. They may have buildings insurance, taken out when they bought the property with a bank mortgage (so were required by the bank to have one) and the likelihood is that they were sold the banks buildings insurance package at completion of the deal (along with numerous other financial packages that may be of dubious value). But that policy may be sitting with the bank and not relevant to the needs of the dwelling now. Or it may not be the best value on the market.
Often we find with home and contents insurance, that perhaps because of language difficulty, clients often do not understand the fine detail of their policy. So it may be that high value items are not covered or by not enough. Or as house contents themselves change over time, are those laptops, tablets and phones covered?
It’s important to understand the policy you are signing up to and paying for. Being able to talk to a broker in your native tongue if you do not speak fluent Spanish, is reassuring. It enables and encourages more analysis of the cover by the buyer, more precise targeting of what actually needs insuring and far greater ease when needing to make contact about a problem or to process a claim.
Thousands of expatriates and foreign property owners in Spain do not have adequate insurance.
If your home insurance in Spain, was arranged by your bank, or if you can’t read the wording of your policy because it’s in Spanish, it is advisable to get it checked.
Apart from making sure you’re paying a competitive price for your policy, unchecked, an error or inadequacy in your insurance policy could result in you losing a small fortune. A typical mistake for example is missing cover for high value items and jewellery. Many find out too late that they simply aren’t covered, when they thought they were.
As well as making sure, that your insurance is good value for money and that the policy provides the right amount of protection for your home and treasured possessions, a useful consideration is that the actual insurance company itself is suitable for you. If you don’t speak Spanish, then you might be restricted to companies who provide policies in English, and who offer English speaking customer services.
Often however, even with those that do, it can still be can still be quite difficult dealing with claims or other problems, so if you´re looking for hassle free home insurance in Spain, you might want to consider using our services as an intermediary, who can not only deal with the insurance company on your behalf, but also give you access to the whole of the market, including those providing home insurance in Spain, who only offer policies and services in Spanish.
It will cost you nothing to get it your policy checked, but could cost you dearly if you don’t. Our advice – get it it checked and make sure that you are adequately covered.
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