Compare car insurance in Spain
When buying car insurance in Spain or any other insurance product it is always a balance between cover and price.
There is a legal requirement to have car insurance in Spain but the level of cover is up to you, once you have purchased the required minimum.
The cheapest cover available is third party cover. This is the legal mínimum. As the name suggests this protects a third party in the event of a claim. For example, if you were to run in to the back of another vehicle and cause damage to that person’s vehicle. This type of policy covers your legal responsibilities to the other parties. Damage to your own vehicle is not covered.
In addition, this type of basic car insurance in Spain does not protect you if fire destroys your vehicle. Nor is it protected if someone steals it.
The next step up from this type of cover would be third party, fire and theft. This provides you with the legal minimum of cover plus the addition of protecting your vehicle in the event of a fire or if it is stolen.
An additional cover can be added to this called total loss. So it is posible to buy a policy called third party, fire, theft and total loss. The added benefit is that in the event that the vehicle is written-off by the insurance company they will make a payment to the insured.
If your car is new or fairly new then you will probably want to consider a car insurance in Spain that has additional protections. Fully comprehensive policies are available. These types of policy cover your third party obligations and also protect your vehicle, even when the incident is your fault. Fully comprehensive insurance policies also include fire and theft cover.
With a fully comprehensive policy you normally have a choice of excess. The excess is the amount you agree to pay towards any damages caused to your vehicle if the incident is your fault.
As in the example above, if you ran into the back of another vehicle it will almost certainly be deemed your responsibility. With a fully comprehensive policy the insurer pays to repair the other parties vehicle. They will also pay for the damage to your car if the cost of the repairs to your vehicle exceed the excess you have taken. You will just be liable for the amount of the excess.
For new cars you can often opt for a policy that has no excess. The premiums you pay for the fully comprehensive car insurance in Spain will then fall as the excess increases. However, if you damage your car the greater the amount you have to pay towards the repair bill. If the accident was not your fault then your insurance company will claim the damages from the other driver’s insurance company. The would be no excess for you to pay.
Fully comprehensive and older vehicles
Some insurance companies in Spain are reluctant to provide fully comprehensive car insurance in Spain for vehicles over ten years old. It is still available but the number of insurers that offer it is lower. You need to think about how much an insurer would pay out for a vehicle that is getting older. Would the premium for fully comprehensive still be good value?
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.
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.
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.
Be clear what cover you would like at the outset
When you are obtaining a quotation for car insurance in Spain make sure you discuss and clarify what cover you want with the broker. This will help them find the best policy for you and avoid any nasty surprises later.
Low prices are attractive but be careful that the policy includes what you want it to include. Like most things we buy car insurance in Spain is not any different. You have to find the right balance between the level of cover you want and the price you are prepared to pay for the insurance.