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Types Of Vehicle Insurance

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What is car insurance?

It is a contract in which a car owner signs an agreement to pay a certain amount of premium every year against the financial coverage of any kind of loss or damage to his own vehicle or even in cases where he is legally responsible for any kind of loss to the car or property of a third party. The damages that are generally covered for the other person are repairing cost of the vehicle and also any kind of medical treatment in case of injury. But if the car owner is not a permanent resident of Spain i.e. he is an expat then in such cases expat car insurance is a very vital thing that one must possess. The expat policy usually includes coverage in case of accident with other cars, any damage by the third party, damage caused to the windows or upholstery, damage due to any natural calamity etc.

Why do I need vehicle insurance in Spain?

Driving a car in Spain is usually fun, but stressful at times. Whatever the price of the car is, getting it insured is very important. Car insurance in Spain is a legal necessity. Before it is taken out on the road, it has to be insured. It is always important to purchase high quality insurance at a reasonable price. Car insurance covers insurance of vans, cars and even motorcycles. It is also mandatory to carry all the related insurance documents and the payments receipts in the car. But better not carry the original documents; instead carry copies of the same. The most important thing to note is that the policy must be written in English because while getting a policy done one has to understand its terms and conditions properly.

What are the types of car insurance available in Spain?

The car insurance Spain is basically of three types namely;

a) Third party insurance – It is the basic coverage which is also very economical. Most people in Spain who own older vehicles have been seen opting for this insurance policy as the cost involved is low. People have a general tendency of not spending much on old vehicles, they think it is unworthy. It covers the damage that has been caused by the policy holder to the vehicle of any third party and pays for the amount of damage caused on the behalf of the insurer. This is the lowest amount of insurance coverage available for the third party.

b) Third party plus – This particular vehicle insurance in Spain covers the theft and any kind of damage to the vehicle of the third party too. It is also considered to compensate the insurer if the car is declared as a total write off due to any accident.

c) Fully comprehensive – This policy is said to cover almost any kind of damage like theft, fire etc. to the car of the insurer and even to the other person and his car due to any loss caused by the accident. So people having this insurance can be mentally relaxed as it covers the repairing cost of almost any kind of damage to the cars of both parties, the insured as well as the third party. But it is the most costly coverage as the insurance company has to pay a high amount of money if there is any accident. On including an excess clause then the amount of premium can be brought down.

I myself being an expat after going through this article have realized how important it is to have vehicle insurance in Spain, especially for the expats.

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Benefits Of Having A Health Insurance In Spain

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Why is health and medical insurance necessary in Spain?

When it comes to health, most people are confused regarding which health insurance provider to select. As a whole the Spanish health insurance service is much better than that of UK. But due to the large number of immigrants nowadays, there is excessive pressure on the companies dealing in health insurance in Spain. In most cases it has been seen that language problem turns out to be a big barrier, so here the insurance companies tend to sort out this problem to a great extent. The private insurance companies also enable to speed up the process of diagnosis and treatment which is otherwise quite slow.

Benefits offered by any reputed insurance company
The reputed private companies of health insurance in Spain offer several benefits which are as follows;
They cover preventive medicines as well as annual checkup.

Usually the coverage is from the first day, leaving out some exceptional cases.

Eligibility from the first day for emergency and specialist treatments.

The documents of the policy are available in many languages.

National and international travel coverage during any emergency.

Special discounts offered to kids when both parents hold a policy.
Health insurance for the expats in Spain
I myself being an expat who is working is Spain, the first thing I did was get myself insured with one of the reputed health insurance companies in Spain. The advantages I received being an expat are;
• I am allowed to choose any of the hospitals to avail of healthcare facility in Spain.

• A very positive thing for the expats is that the health insurance benefit can be availed in few other selected counties as well.

• Premium can be paid in Euros, Dollars or even Pounds.
The moment I realized that the treatment cost in Spain is very expensive, I immediately got myself a good quality health insurance in Spain.

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Tips On Arranging A Home And Content Insurance In Spain

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What is home and content insurance?

This insurance is actually a full protection of your dream home. It is designed basically to protect the valuable assets. It also protects the house from theft, storm, fire and a lot more. Home and content insurance in Spain is slightly different from that of UK. The home and content insurance usually cover the following;

Coverage on valuables like paintings, collectibles, jewellery etc.

Lifetime assurance on home repairing work.

If the house is not in a livable condition then it also arranges for temporary accommodation cost for up to a year.

Coverage also against natural calamities like earthquake, flood etc.

Protection when someone is away from home.

Coverage of loss of any items due to any kind of accident.

Even minor injuries to pets in the house are also protected under this insurance.

What does the home and content insurance include?
Being the owner of a property in Spain it is very important to understand the insurance of home and its contents. So before taking up insurance one should acquire proper knowledge regarding the right insurance cover. While considering a home insurance in Spain always opt for the content coverage along with the building coverage. The building insurance protects the structural property, swimming pools, the fittings, fixtures, any kind of spillage etc. whereas the content insurance protects computers, jewellery, furniture etc. It also protects from legal issues.

How to arrange a home and content insurance?
While arranging this particular insurance the following three alternatives must be kept in mind;

a) Arranging the policy through the bank is a good option. In Spain almost all banks offer this type of insurance. Actually this is a cheap option. But better not opt for a very cheap policy as ultimately while claiming the amount it turns out to be a big headache.

b) Employing a broker is the next alternative. It is always advised to look for a broker who speaks English. As, if there is language problem then claiming the amount after any accident becomes really difficult.

c) Taking up the insurance in the home country from companies offering overseas insurance. Though the premium is little high but the paper work is all in a known language.

So now when I am going for any home and content insurance in Spain, I will definitely go for the option of arranging it from any bank which sounds the safest.

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Different Types Of Insurance Coverage In Spain

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What is insurance?

It is a contract as per which a person receives financial protection against any damage caused, from any insurance company. While purchasing any insurance in Spain, the factor that has to be considered is opting for the best priced policy which fulfills all the basic requirements.

Types of insurance coverage in Spain

Like any other country, even in Spain there are many types of insurance like;

Car insurance – Includes third party insurance and fully comprehensive insurance.

Home and content insurance – It covers not only the house building but even the contents of the house.

Life insurance- Coverage for the entire family

Business insurance – The commercial business insurance covers the stock, the supplies in transit, public liabilities etc.

Health insurance – Covering health of the expats living in Spain.

Travel insurance – Covers all the trips for the entire family.

Marine insurance – This insurance helps avoid preventable risks.

Pet insurance – It covers the veterinary bills spent on the pets.

Dental insurance – Helps to avail the dental treatment at a reduced cost.

Legal insurance – Covers any kind of legal costs incurred, and

Funeral insurance – Even after death the funeral expenses are huge which gets covered under this policy.
I hardly had any idea that there were so many types of insurance in Spain, until I went through this article.