- What it is: Spanish home insurance, or seguro de hogar, is usually a multi-risk policy covering the building, contents and third-party liability.
- Mortgage: the lender can require damage insurance on the property, but must accept an equivalent policy from any insurer (Ley 5/2019, art. 17).
- Floods and storms: extraordinary events are paid by the Consorcio de Compensación de Seguros through a surcharge built into your premium.
- Renewal: policies roll over each year; give written notice at least one month before renewal to cancel.
- Non-residents: check the rules on empty homes, rentals and security before you sign.
How Spanish home insurance works
Spanish home insurance is sold as a seguro de hogar or seguro multirriesgo del hogar. One policy normally combines cover for damage to the property, theft, liability to others and a list of extras such as glass breakage, legal assistance and emergency repairs. Premiums depend on the rebuild value, the contents value, location, the type of property and how often it's occupied.
Unlike the UK, where buildings and contents are often separate products, a Spanish policy usually lets you choose both amounts on the same contract.
Continente vs contenido
| Continente (buildings) | Contenido (contents) | |
|---|---|---|
| Covers | Walls, roof, floors, fixed installations, fitted kitchen, built-in wardrobes, pool and fences if declared | Furniture, appliances, clothes, electronics, jewellery up to a limit |
| Amount to insure | Rebuild cost, not market price and not land value | Replacement value of what's inside |
| Who needs it | Owners; the bank if there's a mortgage | Owners and tenants with their own belongings |
In a flat, your policy covers your home; the community of owners insures the shared structure, roof and common areas. Ask the administrator for a copy of the community policy so you know where the line sits, and check that community fees are up to date before you buy.
Home insurance with a Spanish mortgage
Article 17 of Ley 5/2019 lets a lender require a damage insurance policy on the mortgaged property, and insurance guaranteeing the loan. It must accept an alternative policy from another insurer with equivalent cover, both at the start and at each renewal, it can't charge a fee for reviewing it, and choosing another insurer can't worsen the loan conditions.
Banks often offer a lower margin if you buy their insurance. That's a bundled discount, which is allowed. Compare the total cost over a few years: a cheaper outside policy may still win even if you lose the discount. Read the binding offer (FEIN) carefully. For more, see Spanish mortgages for non-residents.
The bank only needs the building covered. It usually asks to be named as the beneficiary for the continente, so a payout for serious damage goes towards the loan.
Floods and the Consorcio de Compensación de Seguros
Spain handles catastrophic events through the Consorcio de Compensación de Seguros (CCS), a public body. Every home policy that covers fire or combined risks includes a mandatory CCS surcharge, and in return the Consorcio pays for damage from extraordinary risks, including:
- extraordinary floods, including sea flooding;
- earthquakes and tsunamis;
- volcanic eruptions;
- atypical cyclonic storms and falling meteorites;
- terrorism, riots and civil unrest.
Key points from the Consorcio's own guidance:
- You claim from the Consorcio directly, by phone on 900 222 665 or online, not from your insurer.
- There's no excess for homes.
- A new policy has a seven-day waiting period before Consorcio cover applies, so buying insurance when a storm is forecast won't help.
- The Consorcio pays up to the sums insured in your ordinary policy, so under-insurance also reduces its payout.
- It doesn't pay loss of rent or loss of use unless your ordinary policy covers those items.
Ordinary storms, heavy rain that gets in through a roof and burst pipes are your insurer's job, not the Consorcio's. Check the policy's wind speed and rainfall thresholds.
Spain home insurance for non-residents: what to check
Most claims disputes with foreign owners come from the small print on occupancy and security. Before you sign, check:
- Unoccupied periods: many policies limit theft or water damage cover if the home is empty for more than a set number of consecutive days.
- Security conditions: some require locks, bars or an alarm for theft cover to apply.
- Holiday lets: renting to tourists normally needs specific cover and a licence; an ordinary policy may exclude it.
- Liability: make sure third-party liability is included, especially with a pool.
- Squatting (okupas): some policies add legal cover for illegal occupation. See okupas in Spain.
- Language and claims handling: ask whether there's an English-speaking claims line and how repairs are arranged when you're abroad.
- Renewal: policies renew automatically. To cancel, write to the insurer at least one month before the renewal date.
- Payment: most insurers collect the premium by direct debit from a Spanish account. See Spanish bank accounts for non-residents.
When you buy: insurance timing
Arrange cover to start on completion day, when risk passes to you at the notary. If there's a mortgage, the bank will want proof before signing. The insurer will ask for the address and often the referencia catastral, built area and year of construction. Our free property check can help you confirm those details: enter the address or referencia catastral and we'll reply by email.
For all the running costs of owning, see property taxes in Spain and buying a holiday home in Spain.