Insurance in Spain

Insurance is Spain is essential when starting professional activity. Fortunately, Spanish insurance companies have survived the economic crisis well and very few were affected.

Insuring yourself as an individual

As an individual, the main insurance you need is health mutual, life insurance, car insurance, home insurance, travel insurance and general health insurance. Most major insurance companies in England are also in Spain too: AXA, Allianz, Zurich etc.

When choosing which to use, it is important to compare insurance policies without regarding the price criterion as the sole criterion. Namely: Car insurance is mandatory for all vehicles and home insurance only concerns home owners so you do not have to pay anything if you are renting. You can also get legal help through your insurance contract, another advantage to settling down abroad.

Similarly, a health mutual is quite important in Spain. There are two separate health systems. The public system which is completely free and covers all Spanish residents but waiting lists tend to be long and doctors are often unmotivated. The private system provides access to reputable professionals and well-equipped health centres with no waiting list.

Insurance for companies in Spain

Insurance in Spain for businesses includes coverage of personal liability, cross-party liability, theft of goods or equipment, the temporary replacement of equipment in case of damage and legal assistance. Companies must consider their business and the nature of their risks before choosing a policy adapted to their needs. However, it is also essential that they change the contract based on the evolution of their company, the number of employees hired, the acquisition of new equipment, extension or relocation etc.

Auto-entrepreneurs: a separate insurance policy

From the moment that an entrepreneur starts his business in sectors subject to particular obligations or if his activity is likely to cause damage to clients, private insurance no longer applies. The simplest way to go about it is for an entrepreneur to contact a specialist insurer who can evaluate any additional guarantees. There are two types of insurance for the self-employed: stoppage of work insurance and accident insurance. The work stoppage insurance pays you a daily allowance if you fall ill. Accident insurance, on the other hand, provides compensation if a worker suffers an accident that prevents him from continuing to work. Some companies offer a package designed for business owners that includes private insurance as well as company insurance.

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