What You Need to Know About Home Insurance in Spain

Insuring your property against earthquakes and other natural disasters in Spain

By Nick Nutter | Updated 22 Mar 2023 | Andalucia | Living In Andalucia | Login to add to YOUR Favourites or Read Later

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Image Credit: Maxim Kazmin - Fotolia

Before you read this article, please be aware that I am not recommending any particular insurance company or insurance broker. Nor am I on commission or any other financial incentive from any insurance company or broker named in the text. The purpose of this article is to inform you of what is available in the way of property insurance in Spain for extraordinary risks such as earthquakes.

Home Insurance for Earthquakes (and other natural disasters) in Spain

Following the earthquakes in Granada on the night of Tuesday 26th January 2021, I noticed many people on social media asking about home insurance that covered the risk of earthquakes. Were there even insurance companies out there that provided cover for earthquakes and other extraordinary risks.

Of course, this is Spain and nothing is ever easy.
First of all there are property insurance companies that will cover you for extraordinary risks, including earthquake.
But
There is always a ‘but’ in Spain.
Cover is not always equal and equitable between companies. Some have a high excess for properties in earthquake zones, some low. Some specify earthquakes, some do not.

The Public Insurance Compensation Consortium

Then I discovered the public insurance compensation consortium.

Did you know that In Spain, homeowners with a valid private home insurance can get monetary help from the state should they be affected by a natural disaster thanks to the public insurance compensation consortium (CCS). More information of the CCS

For instance. In 2016 floods in Málaga region left over € 25 million in damages and it is believed that around 6,000 people claimed compensation from the CCS. All had valid and paid up to date home or car insurance. Some insurees received their compensations within 10 days after filing the claim form. Others who sustained major losses had to wait around 3 months to see their claims successfully processed.

The CSS also covers other extraordinary events including:
- Other natural phenomena like tidal waves, volcanic eruptions and the falling of astral bodies and meteorites. In the case of atypical cyclones, amongst others, tornadoes and extraordinary winds, characterised by the existence of gusts of over 120 km/h. are included, in accordance with the Regulation for Extraordinary Risks Insurance.
- The damages caused as a result of terrorism, rebellion, sedition, riot and turmoil.
- Events or actions by the Armed Forces or the Security Forces in times of peace.

So, the question became:
How do I make sure my home is protected either through my own insurance or, through the CSS?

If you are resident in Spain and your preferred language is English then the answer is to go to a British insurance broker who understands the home insurance system in Spain. Ibex is one choice. Ibex Insurance

If you are resident in Spain then the answer is to go to a Spanish broker who understands the insurance system in Spain. I found one who professed such an understanding. Cogesa Expats

If you are resident in the UK and want to insure your second home in Spain against everything, including earthquakes you can speak to Schofields Insurance

DO NOT FORGET: In order to claim from the CSS you must already have a valid and paid up to date insurance policy on your property.

Image Credit: Maxim Kazmin - Fotolia

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