Insurance
By: The GoAbroad Team
Posted on: Spain, Health and Safety
Health Insurance - There are 2 types of health insurance in Spain: the medical assistance in which a certain insurance company provides a list of their accredited doctors who may assist you. The coverage will be based on the agreements and specifications of the policy that you choose.
Another type of health insurance is the reimbursement of expenses for medical assistance. In this type of insurance, you can choose a doctor other than the one accredited by your policy and the insurance company will refund your medical expenses according to the agreed terms.
Hospitalization caused by AIDS and treatment for alcohol and drug addiction will not be covered by the health insurance. Health insurance in Spain has a year's coverage with its coverage cost increasing annually.
Life Insurance - A seguro de vida or a life insurance is a type of insurance in which the company agrees to pay the beneficiaries an agreed amount of money upon the death of the person being insured. A medical examination will be required from the insured person. Some companies have specifications on the type of death covered. Death resulting from suicide is usually excluded from the coverage.
House Insurance - A seguro del hogar or a homeowner's insurance is the kind of policy you need to secure your house and other home investments from calamities like fire and typhoon. The policy's premium will depend on the value of your house and the risks that you want to include in your coverage.
Car Insurance - Car insurance in Spain can be categorized into 2:
* Third- party liability insurance (seguro de terceros o de responsabilidad civil obligatoria)
A third- party liability insurance is mandatory insurance policy in Spain. It is one of the requirements in the country in obtaining a permit to drive a vehicle. This type of insurance covers risk for causing the personal injury and the third party in the accident. Maximum indemnity for this type of insurance is:
- EUR 336,566.78/ victim (personal injury)
- EUR 96, 161.94/ victim (property damage)
This insurance will not include personal injury of the policy holder and the damage to his car. In addition, a third- party liability insurance will not cover accidents when:
- the driver was drunk or was under the influence of drugs.
- the vehicle was driven by an unauthorized person.
- the driver possess no driver's license.
* A fully-comprehensive insurance on the other hand, covers the damages not covered in the third- party liability insurance which include personal damage to the policy holder, the driver and the passengers; damage to the vehicle and its contents and theft from the vehicle if there is any.
photo by: Kalense Kid
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