Insurance to Valencia

If you live in Valencia or you travel there for business, holiday, etc., you have to know that purchasing the appropriate insurance in Valencia will give you the peace of mind that you need.

Purchasing an insurance policy is the best way to protect yourself, the future of your family and your assets. There are different types of insurances, the most known are: home, car, travel, health and life insurance. There are some insurance companies in Valencia that offer other types of insurances such as holiday, business, renters, etc.

If you have doubts, regarding why acquiring an insurance policy is so important, you should know that one is exposed to many situations every day that could have negative effects in your health, assets, or even your life. All these situations entail economical expenses. It is recommended you acquire an insurance that covers damages or at least unforeseen expenses.

Life Insurance

Life insurance is one of the most important insurance types, it is considered as the cornerstone of the financial planning. There are different life insurance types:

  • Term insurance: the duration of the policy contract is for an specific period of time that can be one, ten, twenty years. If the insured die when the policy is in force, the beneficiary receives the death benefit.
    Spain is different than other countries in that the premium is modified according the age of the insured at the renewal date of the policy contract.
  • Whole of life: the duration of the policy is until the insured passes away. You have to take into account that if someone has an outstanding loan at the time of his or her death, the loan amount will be paid with the death benefits.
  • Universal life: is a permanent insurance that offers the owner of the policy the posibility of making changes, for example, the premium payments can be varied and if the insured wants, the benefits can be changed.

Health Insurance

Health insurance is the most contracted in Valencia as in other worldwide cities. There are three types of private insurances in the market:

  • Healthcare insurance
  • Reimbursement policies
  • Insurance of subsidies or compensation

These three types of health insurance are subdivided in other three:

  • Individual insurance
  • Family insurance
  • Group insurance

Choosing the right health insurance gives you access to a quality health service. How much money you have to pay for a health insurance depends on which plan you choose.

The public healthcare in Valencia is pretty good, there are public hospitals which belong to the Social security. Spain has a reciprocal health agreement with other countries including the European Union ones. The EHIC (Europen Health Insurance Card) in Spain, this is called TSE (Tarjeta Sanitaria Europea). The main advantage that this card offers to legal Spain residents is when they are in a member country for a temporary period of time, they have access to emergency medical assistance if it is necessary.

Travel Insurance

If you travel to any place around Valencia or maybe to another one outside the country, it is important to purchase a travel insurance, the principal reason is that having a travel insurance gives you the economical support to cover the expenses incurred in accidents, illnesses and urgencies that can ruin your trip and even affect your health and your life.

Travel insurance generally covers:

  • Medical and hospitalization coverage.
  • Medical repatriation assistance.
  • Civil coverage, it in case you accidentally hurt someone or maybe damage private property.
  • Baggage losses
  • Cancelled trips
  • Being mugged
  • Loss of money

Valencia city offers to all those people who like to travel many agencies where they can acquire  the best travel insurance policies. Keep in mind, the insurance coverage depends on package acquired by the traveler.

Home Insurance

Home insurance is used to protect your home and its contents against risks as fire, flooding, theft, etc. it is important that you acquire the home insurance package that better suits your needs. Remember, if you have a mortgage in Spain, you must have a home insurance, it is a legal requirement.

There are different types of home insurance policies:

  • Standard comprehensive policy with public liability insurance. This kind of policy is also called Liability to third part.
  • Accidental damage, this kind of policy also covers from risks outside home
  • Property owners liability, this kind of policy is for rented properties
  • Increased limits for liability cover
  • There is also a policy liability cover for dangerous dogs.

There are some insurance companies without a base in Spain that offer insurance policies on properties in Spain. If you are looking for an insurance policy that offers coverage for your home, its contents and a third part liability, you should contract a Household insurance.

Car Insurance

If you have a car, it is important that you have a protection against financial losses in case you have an accident. There are different types of car insurance coverages, the most  known are: basic and full coverage. Having at least the basic car insurance is a legal requirement in Spain but if you want a better coverage, you can acquire a full car insurance.

Among insurance types in Valencia are:

  • Third party, fire and theft insurance.
  • Fully comprehensive, all risks insurance
  • Optional driver and passenger insurance

When you acquire a car insurance, it is important to take into consideration the following points:

  • Property coverage is responsible to pay for any car damage or if your car is stolen.    
  • Liability coverage is responsible to pay for your legal responsibility to others, for bodily injury or any property damage.
  • Medical coverage is responsible to pay for the cost of treatment of injuries, rehabilitation and sometimes funeral expenses.