Normally you can move your insurance from the bank where you have the mortgage, but most banks insist that the rebuild cost is at least the value of the mortgage... so if your mortgage is 100,000€ then they will want to see the rebuild value at 100,000€. Also they will want to see that they are the beneficiary in the event that the worse case should happen, this appears on the policy as your mortgage account number & bank NIF etc.
I´ve just made a policy rebuild only for a sum slightly less than 100€ and the cost was 75€ for the year. I do not think that the Community Insurance is suitable for anyone with a mortgage, but best that you chack with them.
Regards
Kathy
kathy@laredsolutions.com