Car insurance in Spain
Types Car insurance in Spain and some additional extras
There are various types of car insurance in Spain available and the purpose of this text is to go through some of the differences.
Whilst we all want to pay a low price for our car insurance in Spain make sure it includes what you would expect. You only find out if your insurance is any good when you make a claim.
In Spain there is a legal requirement to insure your vehicle. Whilst a basic policy may allow you to circulate on the road it probably won’t offer you the cover most people would want from an insurance policy.
Third Party (Basic)
This is the legal minimum required in Spain. With this type of cover you are insured if you damage another person’s vehicle, for example. In simple terms, if there is a claim and it is deemed your fault the insurance company will pay out. The other driver will have their vehicle repaired. However, any damage to your vehicle will have to be paid by you.
This type of policy only covers third party damage. Whilst it is the cheapest type of policy it could leave you with a large repair bill.
A basic third party policy will also not cover your vehicle in the event of theft or damage by fire.
Third Party Fire and Theft
This level of car insurance in Spain provides the legal minimum of third party insurance. In addition, you have the added benefit that if the vehicle is destroyed by fire or stolen that you are covered.
Third party, fire, theft and total loss
One more step up and you can also include total loss cover. This is not fully comprehensive cover. The difference here is that the additional of total loss cover on top of the third party protections explained before. In the event of the insurer declaring the vehicle a write-off (not worth repairing) then they will pay out an agreed sum to the policy holder. However, if you damage the vehicle but it is not a total loss then you will have to pay to repair the damage.