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Insurance in Spain

Insurance services in Spain are quite popular. There exists a developed network of insurance agencies, the signs with the word ‘Seguros’ on them are frequent even in little villages, and every local resident, a tourist or an immigrant has some kind of insurance policy. 

                  

It is rather difficult to orient in the variety of insurance agencies present in the local market and choose the policy which best fits your needs. That’s why we recommend putting it in expert hands. It’s important to mention that one has to be careful when signing the insurance contract and read carefully all the articles and footnotes. An insurance policy can be paid using whether cash or a bank card on either a monthly, quarterly, half yearly or yearly basis.

Home insurance

The cost of a home insurance policy depends primarily on the property value and its initial security level, i.e. the price will be lower if your house has windows grates, a strong door, a fire or an intruder alarm and so on. It should be also noted that all properties acquired through a mortgage need to have home insurance which serves to protect the bank interests, as set out in any mortgage deed. In other cases the householder is free to decide whether they need it or not. Anyway, a home insurance policy can substantially facilitate your life and prevent from expenses in case of accidental damage, fire, theft, floods, natural disasters, etc. Besides, all home insurance policies in Spain include civil responsibility cover, which is especially important for non-residents who cannot look after their properties 365 days a year.

Health insurance

Spain – and especially its Mediterranean cost – is a popular international destination for medical tourism, whilst the Spanish healthcare and health insurance systems are ranked among the best in Europe. Like in any other European country, the Spanish public healthcare system is perfectly complemented by the private sector. As much as 85% of all Spanish population use public healthcare services and the remaining 15% of foreign residents and foreigners who own Spanish property have private medical health insurance.

Non-residents without any private medical policy obviously can use public healthcare services, but the cost will be quite high, especially in cases when a complete check-up or a surgery is needed. For example, a routine doctor consultation can cost from €50 to €100, ordinary tests – from €20 to €200 while a day in a hospital or a computed tomography analysis can cost up to €500.

A private medical policy can save your time and money. Among the benefits of private healthcare system are:

  • The possibility to visit any doctor you want and not only the one that corresponds to your home address;
  • No queues;
  • The possibility to go directly to certain specialist, without the need to see the general practitioner first;
  • Full dental care instead of only basic dental services.

The prices for complete health coverage start from about €60 per month (for adults in their thirties) although there are also cheaper tariffs with co-payment charges of about €10 euros per doctor visit. Most popular private insurers in Spain are Sanitas, the Spanish branch of the British healthcare giant BUPA, and Generali, the biggest Italian insuring company.

Car insurance

Every driver in Spain by law has to insure their vehicle. The car insurance price depends not only on the model of the vehicle or its mechanical condition, but also on the driver’s age, gender and personal history of claims. All vehicles must have at least third party, fire and theft insurance. Driver or passenger insurance as well as fully comprehensive ‘all risk’ insurance is optional.

Our specialists are always happy to advise you on different types of coverage and tariffs as well as help you select an insurance company. We can arrange you a meeting with an insurance broker in our office where you will be able to insure your property, car, health or life. To consult the complete list of our free and paid services, please check the ‘After-sales service’ section.