Condominium Insurance

At C1 Broker we have an unbeatable offer in Community Association Insurance in Spain: Allianz Seguros, Zurich Seguros, Liberty Seguros or Helvetia are our Partners.

Community Association Insurance in Spain tailored to you

At C1 Broker we have various protection solutions for your building with several multi-risk condominium insurance policies, which not only meet the legal requirements for fire insurance, but also offer a series of covers so that you can enjoy peace of mind and coexist with your neighbours. In the event of a condominium loss, C1 Broker provides you with a personalised claims manager. Our partners are the best insurance companies in Spain: Allianz, Zurich, Fidelidade, Liberty, Hiscox, etc… to offer you the best price with the seal of quality. We guarantee a professional and reliable service.

Specialised insurance for your homeowners' association

At C1 Broker, we analyse and compare the insurance solutions for condominiums of the main insurance companies in Spain in order to offer you, in a neutral and professional way, an innovative and competitive insurance, oriented to the needs and size of your building or residential complex.

If you live in a residential building or condominium complex, you will need a multi-risk insurance policy to safeguard the risks of condominium buildings. This insurance guarantees the protection of the common parts as well as the autonomous fractions. And it will make it easier for you and your neighbours to live together…

The multi-risk insurance of the community of owners, in addition to complying with the legal obligation of the Fire Insurance for buildings in horizontal property regime, includes a set of additional covers, such as, for example, the assistance to the community in case of accident, the coverage in case of robbery or theft, the breakdown of machinery and lift or the legal protection, among others.

The Spanish insurance market for condominiums is quite complete and complex.

  • Complete because there are more than twenty insurers offering multi-risk insurance policies for condominiums.
  • Complex, because within each insurer, the offer is flexible, with different levels of coverage and with and without deductibles.

Moreover, depending on the marketing strategy of each company, some present quotes or insurance proposals with a long list of coverages and others with a shorter list. This does not mean that companies with shorter lists do not include coverages; they simply choose to be more succinct in presenting product features so as not to confuse the customer. You should always consult the IPID or the General Conditions to find out what is included in the coverages or consult an Insurance Broker such as C1 Broker, who will be able to guide you with the experience and wisdom acquired over more than 26 years.

At C1 Broker we work with the best insurance companies in Spain (Allianz, Zurich, Mapfre, Liberty, Helvetia, Axa, Reale, Mutua Tinerfeña, Caser, etc) to offer you the most complete insurance for your building or community of neighbours.

There are wide possibilities of contracting and the maximum coverage to have all your needs covered. For example:

Main covers:

  • Breakage of windows and glass.
  • Water damage to community property and private property.
  • Damage due to theft.
  • Accident cover for employees of the Community.
  • Damage caused by atmospheric phenomena.

Damage Guarantees:

  • Water damage to community property.
  • Fire, explosion, lightning, vandalism, flooding, atmospheric phenomena, smoke or soot, shock, impact and sonic waves.
  • Due to spillage of automatic fire extinguishing installations and fuel spillage.
  • Breakage of windows and glass.
  • Electrical damage.
  • Aesthetic damage: aesthetic restoration of the room affected by the loss when it is not possible to find materials with identical aesthetic characteristics.
  • find materials with identical aesthetic characteristics to those damaged.
  • For salvage.

In addition to…

  • Accident insurance for employees of the community.
  • Civil liability.
  • Bonds and claims.
  • Debris removal and demolition, disembarkation and sludge extraction.
  • Temporary uninhabitability.
  • Loss of rent.
  • Removal of furniture.
  • Replacement of documents.
  • Theft and robbery.

Optional Guarantees:

  • Water damage to private property.
  • Civil liability for private water damage.
  • Legal defence.

Services included in the policies:

  • Connection service with repairers, installers and professionals.
    Surveillance in the event of a claim.
    Sending a locksmith.
    Assistance services of nurse, assistant, dispatch of medicines and ambulance in case of accident of employees of the comm.

Shall we talk? We will contact you to offer you the best condominium insurance.

Choose the best Condominium Insurance with confidence

Find answers to the most frequently asked questions about Insurance for Communities of Owners here.

Yes, in Spain it is compulsory to insure condominium buildings – both autonomous fractions and common parts – against the risk of fire. This coverage is found through the condominium insurance. By law, all condominium buildings need to take out fire insurance, but opting for a multi-risk insurance with additional coverage can simplify the settlement of claims.

Ask us now for a simulation of your Condominium Insurance, without obligation!

These are some of the coverages that you can find in the condominium policies available in Spain. The inclusion or not of these coverages depends on the degree of coverage contracted (basic or more complete):

  • Fire and damage caused by.
  • Damage caused by heat, smoke, steam or explosion as a consequence of fire;
  • Removal or destruction carried out by order of the competent authority or carried out for salvage purposes as a consequence of fire.
  • Landslides;
  • Impact or collision of land vehicles and animals;
  • Damage to plumbing and underground installations;
  • Damage to the contents of the condominium;
  • Water damage;
  • Demolition and removal of debris;
  • Accidental spillage of hydraulic systems of fire protection installations;
  • Assistance to the condominium;
  • Fire, lightning and explosion;
  • Flooding;
  • Search and repair of breakdowns;
  • Breakage of glass and marble stones;
  • Breakage or fall of antennas;
  • Breakage or fall of solar panels;
  • Aircraft crashes;
  • Civil liability of buildings;
  • Electrical risks;
  • Storms;
  • Strikes and vandalism;
  • Adaptation of the building due to the disability of the condominium owners;
  • Machinery breakdown;
  • Aesthetic damage;
  • Property damage (due to theft or attempted theft);
  • Temporary deprivation of use;
  • Reconstitution of documents;
  • Reconstitution of gardens;
  • Acts of terrorism;
  • Seismic phenomena;
  • Breakage and fall of illuminated signs

Ask us now for a simulation of your Condominium Insurance, without obligation!

The amount of the insurance depends on the number of fractions that make up the condominium, the size of the building, the number of common areas and the existence or not of recreational areas such as swimming pools, lifts, gyms, etc., and also on the coverage chosen. You can pay the amount of your insurance annually, half-yearly, quarterly or monthly.

Most insurers update the value of the condominium insurance, at the time of renewal of the contract, after analysing the number of claims the condominium had during the year and updating the amount of the insured capital. C1 Broker can help you find the best solution for your condominium insurance in Spain.

Ask us now for a simulation of your Condominium Insurance, without obligation!

All insurance policies contain a list of inclusions (what is covered) and exclusions (what is not covered by that policy). Multi-risk insurance is no exception and also has its exclusions. Here we present the most common ones, which are common to all insurers dedicated to multi-risk condominium insurance in Spain. However, you should always consult the contractual documents relating to your policy to confirm that there are no changes to the list presented here:

  • War, invasion, hostilities or warlike operations, civil war, insurrection, rebellion or revolution;
  • Military uprising or act of legitimate or usurped military power;
  • Confiscation, requisition, destruction or damage to insured property by order of the government, in law or in fact, or of any instituted authority;
  • Explosion, heat release and irradiations derived from the fission of atoms or radioactive and also those derived from radiations caused by the artificial acceleration of particles;
  • Fire derived from seismic phenomena, unless this coverage is contracted;
  • Malicious acts or omissions of the Policyholder, of the Insured or of the persons for whom they are civilly liable;
  • Loss of profits or similar losses;
  • Loss, theft or robbery of the insured property, during or as a consequence of any covered loss;
  • Repair, removal, use or exposure to asbestos and its derivatives;
  • Pollution of any kind;
  • Intentional acts or omissions, carried out by the Insured or by persons for whom he is civilly liable, with the purpose of producing damage;

Ask us now for a simulation of your Condominium Insurance, without obligation!

When an accident occurs between the condominium and the flat owners, the question arises as to whether it is covered by the condominium insurance. Some policies have limited liability coverage and consider the flat owners as non-third parties, i.e. they are automatically excluded from coverage.  This situation is found in basic or limited coverage policies. In contrast, multi-peril condominium insurance policies have extended general liability coverage with cross liability, or include in the definition of the scope of coverage that unit owners will be considered third parties in the event of claims between the condominium and the units or their owners.
When we analyse and compare multi-risk condominium insurance from different insurance companies for our clients, this is an issue we always pay attention to.

Example of a claim: Imagine that one of the neighbours is walking in the common area and falls on a ceiling lamp, suffers an injury and needs medical assistance. If cross liability is not taken out or if the insurance excludes the condominium owners from civil liability, the injured neighbour’s claim will not be covered by the insurance, but will still be the responsibility of the Community of Owners and will have to be paid by the neighbours. In summary, in order to avoid unpleasant situations, it is preferable to take out the homeowners’ association policy with an insurance broker such as C1 Broker, who knows the most frequent limitations and problems. Choosing the right policy with the right guarantees will give you peace of mind, avoiding a number of unexpected surprises.

Ask us now for a simulation of your Condominium Insurance, without obligation!

When choosing a multi-risk community insurance policy, another point to take into account is whether or not excesses are applied. Obviously, and in theory, from the consumer’s point of view, it is best to take out policies without excesses or with very low excesses. This means that in the event of a claim, whether small or large, you can be sure that you will not have to pay any additional money. However, no excess policies are significantly more expensive and few neighbours will agree to pay so much for a no excess policy.

Therefore, the ideal is to find a solution that balances a low annual condominium policy premium with deductibles on some of the coverages. These deductibles make the condominium participate in the event of a claim, either in a fixed amount (normally the deductibles are low, between 500 and 200 euros per claim) or in a percentage of the total value of the claim (5%, 10% or 20%), but they exponentially reduce the total value of the policy. 

There are coverages, such as seismic phenomena, which have a minimum compulsory excess of 5%.

 

Ask us now for a simulation of your Condominium Insurance, without obligation!

C1 Broker ®, Insurance Broker, we work with a selection of the best Insurance Companies in Spain:

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