If you buy a property in Spain, then getting home insurance is essential, which will protect you against all the unexpected events that may happen in, and outside, of your new home.
If your property is mortgaged, then it is an obligation to take out insurance, which would cover damage to your real estate, as well as to any personal items inside.
The civil liability guarantee in a policy is fundamental because it protects you and your family from any material or immaterial damage caused to a third party.
Civil liability covers the acts of your daily life inside and outside your home, so if a flowerpot falls off the balcony and hurts someone, then you are covered.
Also any damage caused to a third-party by your home like a fire, and the amount insured by this guarantee depends on each contract-
If you don’t have home insurance you must pay the costs of compensation, which is a very good reason to get some, even if the property is not mortgaged.
The cost of home insurance varies according to different factors, namely the amount insured; where the house is situated. If it is a primary or secondary residence; and whether it is rented.
if it is an insurance for a second home which you use as a Spanish holiday home, and it not a new build property (in that case you could take the risk if you want to), then you need to make sure that you get insurance covering your property even if it is empty more than 180 days per year.
Some insurers won’t cover the risk if the property remains empty, so it pays to shop around and to get the possible coverage possible.