Whilst property ownership in Spain is for the most part an enormously satisfying experience, it does at times present some challenges. Over the years, several cases of planning breaches, lack of 1st Occupancy Licence, breach of zoning etc, have appeared in both national and international press.
If you live in southern Spain and plan to travel either nationally or internationally, you would be wise to acquire a travel insurance policy that is adapted to your needs. A good travel insurance ensures that no trip leaves you overwhelmed with bills for unexpected delays, losses, accidents and medical conditions.
Boating and water-based activities are extremely popular in Andalucia, and RD 607/1999 makes it obligatory for any motorized vessel to carry third-party liability insurance. The minimum limit for third-party liability indicated in this legislation is € 336,567, however, it's prudent to buy a much higher limit, in particular if you have a higher-value vessel.
As Benjamin Franklin famously said, "the only certainties in life are death and taxes", and it can make sense to plan for this eventuality so you-re not caught unprepared. The emotional impact of a death in the family can be hard to bear, but if also accompanied by negative financial implications, then the outcome can be devastating.
Whilst not obligatory in Spain, most people choose to insure their home - it's usually the biggest investment they make in their lives. Also, in the event that your property has a mortgage, the bank will usually insist on the building being insured, and the bank's interest being noted in the policy. Be aware that banks cannot insist that you use their insurance provider, and in any case, it's far better to shop around.
Spanish law requires that all motor vehicles in Spain must have third party insurance in place, designed to compensate third parties injured or who suffer loss in a road traffic accident. The current limit is set at €70m for personal damages and €15m for material damage.
With the continuing changes in social security regulations across Europe and its neighbours, your situation as a visitor to Andalucía deserves clarification. Residents of EU countries and participating neighbour countries are covered by the reciprocal health care agreements struck by these countries.
Living in a foreign country is a wonderful and enriching experience, which requires that you understand the local customs and ways of doing things - these may be considerably different from what you've experienced in your home country.
Advances in medicine, longer life expectancy, overburdened state health services and the rapidly rising cost of healthcare, mean that more and more people are turning to private health insurance. Indeed if you are applying for residency in Spain and do not come from a EU country, then you will need to have private health insurance.
Numerous insurance companies operate from Gibraltar. Like banks, some are licensed by Gibraltar and thus fully regulated by Gibraltar's FSC (Financial Services Commission), while others are authorised and regulated by the EEA (European Economic Area) state to which they belong.
We all know that our pets are as much a part of our family as our parents, our spouses, and our children and frequently, they are the less of a cause for aggravation or concern. However, when they are sick or involved in an accident, pets can become a great preoccupation. Veterinary bills can be an unwanted surprise that can cause a great deal of stress within the family. That is why the concept of Pet Insurance has become a popular way to hedge against emergency veterinary costs.