High-Value Car Insurance in Spain

high-vlaue car insurance in Spain
high-vlaue car insurance in Spain

The ease of obtaining competitive high-value Car insurance in Spain depends on various factors. These include; the specific insurance provider, the make and model of the vehicle, the driver’s history, and other individual circumstances. Generally, insuring a high-end car is more expensive than standard vehicles. This is often down to their higher value and potentially higher repair or replacement costs.

To contract high-end car insurance in Spain, you would typically need to provide information about the vehicle. Additionally, your driving history, and other relevant details. Insurance companies will assess the risk associated with insuring a high-value car, and your premium will reflect this risk. For those vehicles of exceptionally high value, it may be a requirement from the insurance company that an Assessor inspects the car. The insurance company-appointed Assessor produces a report at the insurer’s cost.

Assessor's report (if needed)

The insurance company pays the costs of the Assessor’s report. This report is only required when a client is looking for a fully comprehensive policy and the value of the car is significant. Depending on the insurance company but sometimes from 100,000 euros as new value.

If you need cover immediately it is possible to insure the car, third party, fire and theft. You can then upgrade once the report has been finalised. The report is usually available the following day after inspectionhe car the report is often issued the following day.

The benefit of the Assessor’s report is that it will include all options and extras which can then be included in the policy. This ensures you pay the right premium, for the correct coverage and avoid unpleasant surprises in the event of a claim.

To obtain a new obligation-free quotation please click the “Get a Quote” link below.

High value car insurance in Spain
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Five ways to reduce the cost of your car insurance in Spain

Five ways to reduce the cost of your car insurance in Spain

Here are five ways to reduce the cost of your car insurance in Spain:

  1. Review your policy every few years to ensure it remains competitive. Use a broker to shop around for you and avoid having to negotiate with various insurance companies. Bypass that tiring task of negotiating between one company and another.
  2. Some insurance companies calculate part of the price of the annual premium based on the number of kilometres you expect to do in a year. If you do not do many kilometres then advise the broker. They can then focus on companies that offer discounts for low-mileage.
  3. If you have a fully comprehensive policy, then you could consider increasing the excess. The excess is the part you pay towards the repairs when an accident is deemed your fault or no one else is involved. The higher the excess the lower the premium.
  4. If your vehicle is getting long in the tooth, then consider what you are likely to get back from an insurance company. Is fully comprehensive insurance still good value for money? What is the reduction in premium for third party fire and theft? Is it worth continuing with fully comprehensive?
  5. Pay your premiums on time and cancel old policies properly. If you do not, then you may end up with adverse credit information. Some insurers use credit reporting agencies and this can influence whether they will allow you to pay in instalments. A bad rating may lead to an increased premium or could affect whether they are prepared to issue a policy at all.

Do I need insurance if I am not using my car in Spain ?

Do I need insurance if I am not using my car in Spain

If you have a car in Spain then you must have insurance. This is a legal obligation. If you have parked up the car in your underground parking because you are not using it you still have to maintain a car insurance policy. It doesn’t matter that you are not going to take it on the road or it is broken and unable to be driven.

At least a third party insurance is needed in case your vehicle causes damage to others. Although the car is in the garage there is still a possible risk of an electrical short circuit, for example. The Spanish law states that all owners of motor vehicles in Spain must have an insurance for each of those vehicles with at least the minimum obligatory cover required by the law.

A car without insurance could incur a penalty of between 600 and around 3,000 euros. It could also be that the authorities take the vehicle to a municipal compound if the position is not rectified within a few days.

The only time a vehicle in Spain is not obliged to have insurance is when it is registered officially with the traffic authorities as off the road either temporarily or permanently.

Breakdown recovery Spain / Accident recovery Spain

breakdown recovery spain

Most car insurance in Spain will automatically include accident and breakdown recovery. However, there are differences in the cover provided. Some companies offer a comprehensive package in their cover as standard. Others offer more flexibility but if you don’t make enquiries you could end up with very limited service.

A few companies will only provide breakdown assistance, for example, if you are a minimum distance away from your home. So if you wake up and need to get to work or the airport to pick up relatives and the car won’t start you are on your own. Other companies offer cover from 0 (zero) kilometres. This means in the situation above they will come at get you started or tow you to the garage.

Limited towing distance

Other differences you might come across is the maximum distance that the insurance company will tow you. Alternatively, the distance the tow truck will travel might be calculated by the cost of the tow truck. So the insurance company might provide the service up to a limit of “x” amount of euros.

You can usually ask to be taken to your destination, your home address or your chosen garage within the limits set out in the breakdown recovery service stipulated in your policy. If the distance exceeds what you contracted, then the Spanish car insurance company recovery service will take you to the nearest garage for assistance instead.

Time to reach you

These days the majority of companies will get the recovery vehicle to you within the hour. They seem to have this well organised now. Perhaps why a few now offer compensation if the tow truck (Grua) arrives late. Whilst that might be welcome after the event it is hardly the reason to choose your car insurance in Spain.

Various companies may well try and fix the car where it has broken down. If it is something minor that can be done safely at the side of the road, for example, and within a short period of time. Remember your insurance breakdown recovery will try and help you get back on the road but they are not responsible for the cost of replacement parts.

Again depending on what level of breakdown recovery service you purchase, if it is not possible to repair the vehicle the same day then you the insurer may make a contribution towards hotel expenses. The amount, the length of stay and other conditions are dictated by your policy. This type of cover for breakdown and accident recovery could also include other European countries. If you travel abroad this might be an important consideration.

Hire car or taxi

There may be times when the vehicle remains immobilised for several days as a result of an accident or a major breakdown. Depending on what you have contracted in your policy then you might have the option to obtain a hire car to get you home or to your final destination. Or perhaps the insurance provider will organise a taxi.

Each insurance company is different so it is not possible to give a definitive guide here. The purpose of this article is to get you to think about what you might expect from your accident and breakdown recovery service. Discuss it with your Spanish insurance broker when you are looking for quotations for your car insurance in Spain.

Bear in mind, that the Spanish companies that tend to focus on expatriate clients usually offer a more complete package as part of their standard pricing. Other insurance companies will have maybe three levels of accident and breakdown recovery options you can choose from. Remember to check what is included because if you do not ask then you might find you are given the cheapest to make the insurance premium more attractive to you.

Make sure you know what you are buying

Remember, you only find the true value of your insurance when you need to use it. Skimping on a few euros now may lead to a real headache when the kids don’t get to their holiday destination or you have to dig deep in your pocket to get home.

Remember that if you are legally required to have certain things in your car in the event of a breakdown. See our post about warning triangles and reflective jackets.

Car Insurance Spain additional cover

When shopping for car insurance in Spain also bear in mind other useful protections. Some companies actually now include some or all of these as standard, but not all. Remember to ask.

Accident and breakdown recovery Spain

In Spain it is illegal to tow a vehicle. Most insurances these days automatically include a breakdown and accident recovery service. However, it doesn’t hurt to double check when you are buying a policy. A lot, but not all will include windscreen protection as well. A car is now a very important part of most people’s lives. It may be that you use it to get to work or drop the kids off to school. Perhaps it is just to make our life easier whilst here on a regular visit to a holiday home. If your car is off the road then it might also be worth including a courtesy car in your insurance.

Courtesy Car

If your insurer include a courtesy car then find out in what circumstances it is available. Usually it will be provided in the event of a claim where your vehicle has to be in the repair workshop. There is usually a minimum number of specified days before the car is provided. That will depend on the insurance company. There will also be a maximum number of days a courtesy car will be provided.

If you breakdown some insurance companies will also make a courtesy car available. Again there is usually a minimum number of days that your car must be unavailable before a courtesy car is provided. A maximum number of days will also be detailed in the policy.

Please bear in mind that the insurance companies will not provide a like for like vehicle. If you have got a seven-seater don’t expect the insurer to offer a substitute vehicle of the same size. If you drive a Lexus don’t expect the insurance company to provide you with a temporary one.

You might be able to make an arrangement with the rent-a-car where you pick up the courtesy vehicle. That is if they have something available and you are willing to pay the difference.