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Condo Insurance
Condo Insurance for English Expats in Spain
Condo insurance is essential for residents living in comunidades de propietarios (property owners’ communities) in Spain.
A property owner community consists of all the owners within a residential building or complex, and everyone shares responsibility for maintaining the communal areas – from staircases to gardens to elevators. But what happens when damage occurs? That’s where insurance comes into play.
Master policies of a condo or co-op can vary in their coverage of the exterior and interior of the unit. That´s why it´s important for your condo policy to provide coverage for your specific residence. A condo insurance policy is essentially an additional layer of protection for your family and home.
Why choose us
1. Special Rates & Premiums:
We offer exclusive special rates and enable significant premium reductions through insurer changes or tariff optimization.
2. Specialization & Independence:
Specialized providers for specific circumstances, along with free, independent advice from dedicated consultants.
3. Comprehensive Service:
Our English-speaking team is directly available 24/7
What benefits does our homeowners’ association insurance cover?
, more than just standard
At Iberia insurance brokers customers receive an Iberia Service+. But what does that mean? It’s very simple, our customers are worth a lot to us, and so we want to offer our customers more service through the standard insurance service. Service for which no one of our customers has to pay extra or has to conclude an extra contract – just our service for you.
, more than just standardWhat is Condo insurance
Condo insurance refers to insurance for properties with shared common areas. In Spainsh this is called comunidad de propietarios which translates to property owner community. In communities like these, the neighbors living in the same building or residential complex share the responsibility for the common areas. In Spain, and especially in places like the Balearic Islands, its pretty common.
Imagine living in a building with several apartments – the garden, the stairwell, the elevator, or the pool are shared by everyone. While you own your apartment, the communal areas belong to all the owners collectively. That’s why everyone must pitch in to ensure these shared spaces are maintained.
Living in a property owner community requires a lot of coordination and teamwork. There are regular meetings where the owners make important decisions, like whether the roof needs repairs or if the garden should be redesigned. These decisions are made at the owner meetings, and usually, a property manager is appointed to handle the day-to-day operations.
Everyone in the community pays a set monthly fee, called community fees (gastos de comunidad). This covers expenses like maintenance, insurance, or repairs. When everyone contributes, things run smoothly, and the community remains a pleasant place to live.
Frequently asked questions about Condo insurance for homeowners’ associations:
Get the best policies and rates here.
Iberia Insurance Broker reviews your existing insurance policies and provides you with comparative offers from various insurers including Allianz, Liberty, Zurich, DKV, and many more. With our headquarters in Mallorca and specialists throughout Spain, we are always on hand to offer you advice that saves you money.
We speak your language:
+34 971 69 90 96 - Telephone
+34 900 525 890 - free hotline 24/7
info@iberiainsurancebrokers.co.uk
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