Building Insurance

 Hi

Just need some clarifaction on whether to renew my own building insurance or have the building insurance the resort offer's which is paid  for in our community fees is this just a basic building cover or does it compare favourably with a private policy in the cover offered (example only = A flood from the apartment above ruined plaster and electrics) would this be covered as I have heard its only to cover the cost of re-building the apartment block in the event of a collapse   

Regards

Graham

I'm no expert but from what I've been reading it's the same as the UK.

Buildings insurance only covers the structural integrity of the building as you mentioned his if it falls down or the footings fail something like that, all this is covered by your community fees.

Contents insurance is obviously for everything inside this is what you would need in the scenario you mentioned and would gave to be a separate purchased insurance.

Hope this helps a little.

Hi,
I just purchased on terrazas and my solicitor looked in to it .
Buildings is covered on community fees and the agent in there office(at la torre) got me full cover for contents for (48euro with axa)
Richard

 Ok thanks for your replies will not renew my own policy

 

Ps Welcome to Terrazas Richard

 

Regards

Graham