Insuring property against burlgary: must know

Many people associate Spain with a relaxed and measured lifestyle. And that is the way it is. However, unfortunately, there are no absolutely ideal places, and thefts and burglaries, although rare, do occur here as well.

That is why it is worth taking care of protection of your home, both in terms of security measures (installation of alarm systems, secure locks, video surveillance), and in terms of getting a reliable and correct home insurance, which will not only compensate for damage if a trouble occurs, but will also save your time and money.

The terms and conditions of insurance companies in respect of compensation for losses resulting from burglary and theft vary.  Some companies may impose restrictions on certain types of risks or on certain types of property included in an insurance contract. So, let’s take a look what exactly and how can be insured.

Insured objects

Building and contents in general. Your insurance policy should specify the insured amounts of building and contents. Normally, insurance companies distinguish expensive items (e.g. jewelry) from personal belongings in general and set limits on objects of special value. Therefore, it is very important to know which limits the insurer has for specific types of property.

Jewelry. When taking out a policy, you should specify the value of jewelry kept in the house. Some companies set limits on the insured amounts for this type of property, the losses above the limit are not covered. In order to insure your jewelry properly, make sure that the insurance company you choose accepts the full risk. Among other factors, the maximum amount that the insurance company is ready to cover will depend on security in your home (in particular, a metal door, reinforced locks, alarm system, safe box). Especially expensive items may require a separate declaration in the policy.

High value objects. Each insurance company defines what is considered as high value objects in its insurance terms and conditions. Therefore, if you have any expensive items at home, such as paintings or expensive sports equipment, check if they should be declared separately  when taking out your insurance. When you insure  jewelry or high value items, we recommend to take photos and, preferably, keep documents confirming  their value. In case of an insured event, this will facilitate filing a claim and getting an appropriate compensation promptly.

Money. Insurance companies always set limits on insuring cash kept in the house. If the money is kept in a safe that meets the requirements of the insurance company, the insured amount may be higher. 

Insured events.

Burglary. Here, we are talking about breaking into the house illegally, i.e. there should be some evidence that the trespasser committed illegal actions to get inside and didn’t enter the house through a door that you accidentally left open. The fact of the burglary should be obligatory stated in the police report, it should be indicated clearly that it is “ROBO”.

Damage to the house due to the burglary. If the burglars have damaged your property, e.g. scratched the floor, walls, furniture or broke windows, it should be covered by a good insurance policy.

Theft. If there are no signs of break-in and the thief has entered the house due to negligence of some basic security measures (for example, you went to the pool leaving the door on the terrace open), then this is considered by the insurance company as a theft and is compensated within a specific limit set by the insurance for this risk. Most frequently, jewelry and high value items will not be compensated in such case.

Burglary from annexes. The insurance policy may have a special coverage limit on belongings stolen from annexes. For example, if your bicycle is stored locked in a separate house on your plot, it may be insured. Jewelry and high value objects usually are not covered by this guarantee.

Mugging. Insurance from the top companies cover a robbery in the street. That is, if you were attacked and your bag was stolen, the damage can be compensated for within the limit specified by the insurance company. Please note that reporting to the police is a prerequisite for filing a respective claim to the insurance company.

Fraudulent use of bank cards. If a criminal managed to charge a stolen bank card before you blocked it, with a good insurance policy you can compensate the loss within the establshed limit.

We would like to emphasize that in order to make an insurance claim in respect of any of the above mentioned cases, it is absolutely necessary to report the crime to the police.

Our article gives the most general examples of what and how may be insured, however the terms and conditions of insurers may differ significantly. 

We are always glad to offer you insurance which will meet your requirements and ensure your personal comfort level.


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