Tax on Rental Income / advice please

For the house we have now at Pinada golf, we used AXA and had buildings and contents insurance. However when the community is formed, it is Spanish law that the community must take out buildings insurance for all buildings on the community. Thus only contents insurance will be needed. Obviously until the community is formed, it is best to take out contents insurance aswell. I was a bit sceptical about this at first but the insurance policy for the buildings on the community was put up on the notice board for all to see.

Regards Ian

Intasure are another good company and the proces seem cheap to me have a look at yeclaserve website I think there is a link to the website

We have community insurance at our house in Spain, but the bank insisted that that was not sufficient and we had to take additional buildings insurance with them.  However, this may just be our bank being awkward!  We also use Intasure for our contents and they were very helpful and easy to use.

Karen

R15

Kia,

I disagree with you. As I said we had buildings and contents insurance on our house and then found out about the community insurance. The president put it on the notice board for all to see. I questioned it as did other people but it covers all buildings on the community.

Ian

Ian & Margaret,

That sounds very good.

So this community insurance covers such things as the total cost of a rebuild if your villa was totally destroyed by fire whatever the size? The full cost of removing debris beforehand and the cost of residents accomodation while the rebuild was taking place. Did it say all this on the notice board? That's an excellent deal!

Taxiparrots

Your reply sounds a bit perdantic. I was only offering the experience we already have on our present property.

If you know better then please tell us all.

Obviously until the community is set up it would be prudent for everyone to have their own buildings and contents insurance. But if I am correct as on our present community, why pay twice?

Ian

Hey that will be good

if that's the case our community charges should cover everything outside our properties

So whatever it turns out to be will surely be good value

Oh we will need to elect a presidente

Ian & Margaret,

I was just asking the question.does this insurance cover fully for total loss in the case of fire?

It's what anybody would ask when taking out building insurance.

Does your experience include claiming on this community insurance ?

If so give us your experience on how the claim went.

Ian and Margaret,

Our President on our community also told us that we had Buildings Insurance included in our Community charges - that's why I wondered whether it was our bank looking to make extra money on a policy! However, with a German bank in Spain - it was difficult for us to argue the point!  They said it didn't have sufficient cover.  I hope you are right so we can save some money this time round. We can find out more from SJ nearer the time.

Karen

Taxiparrots,

No, thankfully we have not needed to claim on this insurance so can't give you any further info. We are out in CB in February so I will try to find out some more info with regard to your question of a toal rebuild if required.

Ian

Ian & Margaret,

Thank you.I am sure that everybody would need to know that this community building insurance covers them in every way that uk building insurance does on their property in the uk. Anything less wouldn't be acceptable. 

hear hear Taxiparrots no point us all thinking we are

saving to find eventually we are not fully covered

Ok communal insurance is only for the communal areas only.

If you check with the insurance company they will tell you this.

You have to have your own insurance for your property and contents, do you really want to find this out after you have a problem and receive nothing?

kia

we are taking advice from those who already own on a complex built by SJ

and I will certainly ask questions when I visit in 2 weeks  I will post the answer for all to see

I can't quite believe that our building will be insured under a communal policy BUT you never know do you OR do you know better than the other members if so lets all know PLEASE

GAL

Kia

Would you please do us all a quick guide to what we get covered I think that would really help lots of contributers

GAL