Holiday home insurance

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Mouse
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Holiday home insurance

Post by Mouse »

Anyone any recommendations for spanish (or otherwise) insurance companies who will cover holiday rentals?

Thank you!
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Casscat
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Post by Casscat »

Insurance in Spain is expensive compared to the UK. I arranged my holiday home insurance via Saga because a) I was 50+ (only one policyholder needs to be) and b) I was living in the UK at the time. However when I moved over to Spain after a small tussle I was able to continue cover - albeit paying in sterling (no problem for me). Maybe worth a call if you meet the cusp-of-god's-waiting-room criteria? I think the cover comes via Towergate.
Sallyh
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Holiday homes insurance

Post by Sallyh »

I use insurance for holiday homes.co.uk since 2004. It includes damage by renters and public liability if an injury plus normal contents and building insurance for my property in Spain.i can recommend
brendan
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Post by brendan »

I changed to Saga after advice from LMH. I was resident in Spain which wasn´t an issue.

I can´t say anything about their performance when a claim is made (the only real way to judge an insurance co. IMHO) but they were the most competitively priced.
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PW in Polemi
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Post by PW in Polemi »

Mousie
Try InsureMyVilla - we're with them, both for our home and for our holiday cottage. The only residential property they won't insure is a long term let so we had to find some other insurance co for our flat.
We claimed following a lightning strike very close to our house (took out the microwave, the hot water controller, the wifi router and all the transformers for in-ceiling lights) and they paid up. We'd only just finished repairs/replacements/modifications and banking their money, when a second storm hit. :shock: Much less damage this time, only just above the excess so we didn't bother to claim.
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paolo
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Post by paolo »

You can try clicking on the ad at top right of this page...
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Mouse
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Post by Mouse »

Thanks everyone....will follow those up.

Paulo I did click on the advert but unfortunately you have to resident in the UK for their policies....which I'm not.
[Note: you have to be UK-resident for Schofields but not for Intasure - Paolo]

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Last edited by Mouse on Mon Oct 17, 2016 11:17 am, edited 1 time in total.
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Casscat
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Post by Casscat »

brendan wrote:I changed to Saga after advice from LMH. I was resident in Spain which wasn´t an issue.

I can´t say anything about their performance when a claim is made (the only real way to judge an insurance co. IMHO) but they were the most competitively priced.
I will also say that the cover limits are extremely generous compared to Spanish policies. In areas like liability insurance the cover is much, much higher! I asked a Spanish broker why the cover was so much lower under the Spanish issued policy they were recommending, and they had no answer. Plainly they have no idea what kind of compensation claims might come our way for an injured toddler.
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CSE
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Post by CSE »

Casscat wrote:
I will also say that the cover limits are extremely generous compared to Spanish policies. In areas like liability insurance the cover is much, much higher! I asked a Spanish broker why the cover was so much lower under the Spanish issued policy they were recommending, and they had no answer. Plainly they have no idea what kind of compensation claims might come our way for an injured toddler.
Maybe if you are a company or autonomo in Spain maybe the amount a person can claim is limited by law.
Experience has shown us that insurance coverages change within various EU countries.
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Mouse
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Post by Mouse »

Oh that's interesting!

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Sunbeam
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Post by Sunbeam »

We use La Caixa for Home and Public Liability insurance - we also bank with them. We found the whole insurance thing so fraught due to being relatively new to Spain and not knowing whether to trust independent Brokers who were recommended - or able to understand the Spanish small print. So we stuck with our bank - an easy option and probably not the cheapest - but we have a good relationship with our local branch so happy with our decision.

We recently claimed for 2 new air-con units which were damaged by an electricity surge. The process was handled by our local bank branch, an insurance guy came out to look at the blown units and new installation and we were paid (less depreciation) - all in around 10 days.

PL insurance limit is very low in Spain compared to the UK - And would be very interested to know why and what the implications are.
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Post by costa-brava »

I'd go with Sunbeam on this one. Most banks have a link up with a reliable insurance company. We are with BBVA and Bankia. I felt Bankia were better as they are linked to MAPFRE, a very well established Spanish insurance company.
But it's a wobbly area. If you have an apartment in a block, the "comunidad" of owners is obliged by law to insure the structure of the building leaving owners to insure contents. However many people end up with double cover on the building. It's called "continente" and the contents are "contenido".
The new licensing laws for holiday rentals are specifying the need for public liability insurance but it's not easy to get your message across. A separate law requires that you must stipulate that your property is being rented and have a policy accordingly.
I don't find it clear and my understanding of Spanish is pretty good.
Good luck.
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Lets Go To Puglia
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Post by Lets Go To Puglia »

intasure.com

full holiday home policy, new for old cover, covers guest possessions as well, public liability, loss of rental income.

They handle claims well and pay up without too much hassle.
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Mouse
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Post by Mouse »

Yes but as l pointed out Intasure only cover holiday homes owned by UK residents.
So it's useful to get recommendations for European residents.

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AndrewH
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Post by AndrewH »

Mouse wrote:Yes but as l pointed out Intasure only cover holiday homes owned by UK residents.
So it's useful to get recommendations for European residents.

Mousie
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No Mousie, Intasure insure rental properties overseas and also private overseas homes for non-UK residents. I insure both of these with Intasure and have done so for the last 8 years, during which time I have not been a UK resident. I give them my true overseas address for the paperwork.

It is true that many insurers in the UK won't insure overseas properties, unless the insured is a UK resident. It is worth noting that a non-UK resident giving a false UK residential address (like for example the address of a close friend or relative) is skating on thin ice. "Residence" means actual residence and if the insurers find out that you have made a false disclosure, they can quite legitimately avoid paying out on a claim.
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