Private insurance in Spain

In Spain and abroad, it is advised that you take out several insurance policies tailored to your needs. From your car to your home, here is a summary of the most common covers on the Spanish market.

Mutual Health

The public healthcare system in Spain is free and universal: consultations, access to the emergency services and to medicine is free of charge. The majority of Spaniards therefore resort to using the public health insurance system. However, it is too overloaded and therefore results in long waiting lists which inconvenience patients.

The only way to avoid queuing at the hospital or at the doctors is to have Spanish insurance. A mutual offers your freedom of choice of doctors and hospitals, rapid interventions and direct access to specialists.

These mutuals often have their own network of hospitals, clinics and laboratories. Access to care is therefore faster than in the public system. In addition, mutual health is entitled to additional services outside the National Health System, such as check-ups, acupuncture, dental services, podiatry etc.

Private Automobile Insurance

When a foreigner wants to ensure their vehicle in Spain, they will need to go to the General Directorate of Traffic to carry out a few steps. They will have to do this before buying an insurance policy. Whatever the country of origin of the vehicle and regardless of its type (car, motorbike, bus, truck etc), it will have to go through the same controls and tests as Spanish citizens without a driving license. The approval of your driver's license is not only obligatory but also has a cost. If your license is not approved, the insurance company may refuse to pay damages in case of accident. We know that the ideal car insurance certainly does not exist since each company has its own strategy to attract a particular type of customer. There are many comparison sites that provide an overall view of the market, these best known comparison sites are: Acierto, Restreator, Kelisto and Seguros.

Private Home Insurance

In Spain, the tenant is not obliged to ensure the property they occupy. It's the owner that should provide the means to avoid economic losses that could result from a disaster such as a fire or a leak. The person who rents the apartment does not have to ensure the possessions of the owner such as furniture or appliances in a furnished apartment. Meanwhile, the owner is not responsible for damage caused by the occupant such as leaving the tap on and causing a flood. The best scenario would be for the tenant and the owner to purchase insurance with the same company to cover the property in its entirety. The tenant would therefore insure the contacts of the property and the owner would protect the building itself.

Life Insurance

Choosing life insurance is a tricky task and it is important to choose one without wasting time or money. Remember that life insurance is a benefit not a burden. Ask yourself the right questions: for how long do you need the cover for? How much do your family need after you die? Do you need a simple coverage or do you need to create a mutual fund for your retirement or to pay for your children's education? To find out if you really need a life insurance policy, you should take the number of dependent children into account as well as their ages. Then, asses the household expenses and calculate the amount they will need to get back on their feet after death. You do not necessarily need to cover yourself until you die, so it is advisable to regularly review your income as your children grow.

Travel Insurance

Whatever the type of travel you undertake, there is always a risk of the unexpected occurring. Therefore, you should make sure that your insurance company provides you with cover by paying for all costs in case of accidents, emergencies or hospital visits. Hospital costs can rise to very high amounts depending on the country in which you are. To choose the best insurance policy, simply compile a preliminary list of everything that could happen to you such as a cancellation of the trip, baggage loss, repatriation in case of death or illness, flight cancellation. Suffice it so say that providing your insurer with this list will provide you will sufficient cover. There are two types of coverage: one-off cover or for a whole year. Temporary insurance covers holidays of more than a month and you can subscribe directly in travel agencies. Conversely, if you travel frequently for pleasure or for work, it is better to take out comprehensive insurance that offers real guarantees if necessary.

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