Property Insurance

[Windermeregolfer]

At long last we are moving forward with our property purchase on the island

I have done a forum search on 'property insurance' & just 'insurance' and nothing has come up so thought I would ask for advice from those in the know.

Who do you recommend for property insurance, MLA has already given us one contact thank you, plus what sorts of and level of insurance is available and at what premium cost?

Is it similar to in the UK i.e. buildings and then contents?

We are not going to be renting and will be out at the property for a week or two every 8 to 10 weeks so what sort of restrictions may there be?

Whilst asking we have water, electric, waste, community taxes, will, broadband, tv, on our listnad have already sorted bank, NIE & lawyer, what might we have over looked

Thanks in anticipation of replies 

[gattaca66]

We did our 'shopping around' when we bought out here a couple of years ago, and decided to opt for a policy from Liberty Seguros, which was well-recommended and offers the comprehensive level of government we wanted. If you are in the Corralejo area, contact Robert at Atlantic Insurance, or if in the Caleta area use Yolanda at Liberty Seguros. It can be useful to use the agent nearest to you, makes it easier to get personal advice, and both are excellent, and English-speaking if that's important!

[Windermeregolfer]

Hi gattaca66

Many thanks for that prompt reply, Robert had already been recommended by MLA, we are in the Caleta area so will follow up on your recommendation.

Cheers

[Can the Man]

Windermeregolfer, we do our insurance through Sol Bank in Caleta, Martina there looks after us.

[Windermeregolfer]

Windermeregolfer, we do our insurance through Sol Bank in Caleta, Martina there looks after us.

Thanks Can the Man, we bank there so will check when we get out there in April before we complete.

[bksk2004]

Also bank with Solbank and used to have their  insurance. Now whole  heartedly recommend Yolanda at Liberty Seguros if in Caleta area, good cover level and fair price.

BK

[F1REFLY999]

Where abouts in Caleta?  Thanks

[emmi]

I also endorse Yolanda at Liberty Insurance in Caleta.  Good policy, and IF you should want to change at a later date they have just one month's notice for cancellation, unlike most Spanish policies which require two generally.  She is based in the Bahia Sol  complex of businesses. Just down the side of the El Patio restaurant.

[SheilaW]

If you get Sabadell insurance then they'll do a free bank draft for buying the property and some other perks. We got it then cancelled to go with Robert in year two as it was cheaper and better.

[calculator]

For those with Spanish mortgages, the house insurance is part of the package (vinculado). If you change insurer, the mortgage percent rate (diferencial) goes up by 0,1% - 0,3%. This can be quite significant and cancel any perceived benefits in changing provider.

[beachlife]

I`ve been with Spanish companies and the people suggested on here who act as agents.

I now use a UK company AA insurance

http://www.theaa.com/insurance/holiday-home-insurance.html

It gives just as good cover and if you are in dispute with the insurance company you can go to the small claims court.

A number of people I know that have made claims with companies on the island have had problems getting claims accepted  (me included when I wanted to make a claim). The insurance agents are just that and are acting as agents of the company not as independent agents who are looking after your interest.

I see no benefit in going with a Spanish company, as they all use assessors from Gran Canaria and so would non Spanish companies. The difference I have found is that if you make a claim the AA tends to be more willing to fix problems without you having to push and push for a payment on a claim or to accept liability from any problems you have. (speaking from my own personal experience only)

[fifi]

I would advise anyone who is thinking of taking out the Banks insurance policy to change as soon as possible giving notice after nine months are up on the Policy. A lot of the Banks insurance policies do not cover Public liability and they require several months advance notice when trying to switch provider. Also check if changing to make sure that the Bank have actually stopped taking the premium from your account.

Fi