Insurance

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.

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.