There are, however, a number of ways that you can minimise your risk against these unlikely events. Diligent research into your new area will help to ensure that you do not choose to live somewhere known for its natural disasters – and should also give you an idea of the crime rate; but the best possible protection you can give yourself is the right insurance package for your property and your belongings.
The contents of each insurance policy, as well as its price and eligibility requirements, will usually differ from country to country, and depending on the insurer itself. It is a good idea to use a reputable international insurance company that can provide you with a comprehensively tailored policy to meet your needs, written in your native language.
If your new Spanish property will be your second home, you may well intend to let it out – and so your insurance policy must accommodate this. In this case, it may well be a good idea to consider using a UK-based insurance company that specialises in holiday homes. This way you can pay for your policy in pounds and by direct debit - and often your liability limits will be higher. Some may well have a 24-hour helpline offering assistance in the case of domestic emergencies.
Contact a leading UK-based holiday home insurance firm that offers all of the above.
You must make sure that your home insurance policy is in place in time for you to complete on the purchase, to ensure that you are covered from the very beginning.
If you are moving to Spain permanently, you may want to assess if your insurance company can provide you with further protection packages – such as car or health.
You will find that car insurance in Spain differs from the UK equivalent; here it is the vehicle that must be insured – even if you are not going to drive it. In theory this means that any license holder can drive your car, with your permission.
Taking out health insurance in Spain will always be wise, especially as an expat – after all, the state healthcare will not provide you with all the services that you are used to on the NHS.
We would highly recommend shopping around to ensure that you find the best deal for you; you should be able to compare numerous companies but we would also recommend assessing the suitability of our partners, Bupa.