HOUSE AND HOME INSURANCE IN PORTUGAL IN ENGLISH FOR EXPATS.
INSURANCE IN PORTUGAL FOR YOUR HOUSE, HOME, AND PROPERTY IN ENGLISH
INSURANCE IN PORTUGAL IN ENGLISH
Portugal is to the West of Spain and enjoys a very similar climate. It has become very popular holiday destination over the past few years due to the very low cost of living, the relatively low numbers of people and the beautiful untouched beaches, making it a Mecca for British people.
More and more Expats are migrating from Spain to Portugal, seeking a better, after Brexit scenario and lower property prices. The quality of life is very similar to Spain, great food, sunshine and good weather for most of the year, lower employment and business set-up costs. The bureaucracy is much the same as Spain, but as a member of the EU, Portugal is now coming in line with paperwork, making it easier for Expats to live, reside or retire there.
As Expat numbers increase in Portugal there is a need to provide quality services to them and help them protect their assets.
HOUSE, HOME, HOLIDAY HOME AND VILLA INSURANCE IN PORTUGAL.
Many people, particularly Expats living or working in Portugal, are unaware that most of the Expat Insurance providers, that do provide Property Insurance in Portugal, are not based or work from Portugal, nor do they offer insurance policies provided by Portuguese insurers. Insurance Agents and Brokers offering Expats insurance for Property are based in the UK and have all their information and services based online, with policies underwritten in the UK.
HOME INSURANCE IS COMPULSORY IN PORTUGAL.
BUYING HOME INSURANCE IN PORTUGAL
In Portugal the government has decreed that all properties must have a minimum of fire insurance for the building and have made it compulsory. Fire insurance on property in Portugal is cheap and it is well worth extending the cover to protect what is probably your most valuable asset in Portugal. This generally applies to all properties that have a loan or mortgage against them.
FIRE INSURANCE IN PORTUGAL
Fire insurance will protect all parts of the property including the building and contents against damage caused by fire. Most of these fire insurance policies will also include for damage against floods, natural disasters, storms, lightening etc. as standard. Any claims made for a natural disaster will most likely be handled by a government department collective that settles natural disaster claims. The insurance tax you pay on your insurance premium is paid to this government body as a contribution towards this fund.
You do not need to contract house or home insurance in Portugal if you are renting that property, but you would be advised to seek contents insurance to protect your goods from theft, flood and accidental damage. Comprehensive house insurance in Portugal can also provide all risks insurance, jewellery, accidental damage insurance and provide cover for legal and civil defence and third-party liability.
THIRD PARTY LIABILITY INSURANCE FOR PROPERTY IN PORTUGAL.
For people offering rental property, third party liability insurance is an essential part of the insurance cover you need as this protects the Landlord from being sued in the event that an accident occurs on the property. The insurance company will also provide a legal service to help in the event of a claim and over the legal expenses.
RENTAL PROPERTY INSURANCE IN PORTUGAL.
Some insurance companies will provide cover for loss of earnings, vandalism and damage caused by tenants, and support you with legal costs and lawyers to evict them legally in the event of the non-payment of rent.
EMERGENCY CALL OUT PROPERTY SERVICE IN PORTUGAL.
Our insurance provider offers a 24-hour 365-day emergency call out service in the event of an emergency, such as a flood or broken window, even if you are not there. Very handy for those that are non-resident or for those that rent property out.
INSURANCE FOR VACANT PROPERTIES IN PORTUGAL.
If your property is left empty for any length of time, it makes sense to have the ability to call out a plumber or electrician or glazier if something has happened to your property and you can’t fly back or get back to the property to make emergency repairs. The insurance company will send a repairer to make sure that your property is safe and secure until you can attend to repairs, or get the repair done for you as part of your claim.
In some extreme cases, the insurance company can fly you back to your property. In the event of a catastrophic event such as a major flood or landslide whereby your property is seriously damaged, they will fly you back and put you up in Hotel or similar accommodation so that you can tend to the repairs.
HOW TO REDUCE YOUR PROPERTY INSURANCE PREMIUMS IN PORTUGAL.
Alarm system that are connected directly to the police stations to alert them to intruders or robbery, will reduce the insurance premiums as you are offering a better security than a property without an alarm system.
Good multi locking systems on all doors and metal bars on windows will reduce your insurance costs.
BUILDINGS INSURANCE IN PORTUGAL.
Buildings insurance will provide protection in the event of floods, fire and catastrophic events, collapse and rebuilding if necessary. This is why it is essential to talk to one of our Home insurance specialists. Under insuring or over insuring your property can have serious consequences when making a claim and it is extremely important that you get it right at the beginning.
Once you have got the buildings insurance correct, your insurance company will index link the values, so that any increase in value of the property, according to their indexing, will be covered.
If you have a property value of say €250,000 and you insure the building for €125,000 or half of the real value, and you needed to make a claim for a total loss in the event of a building collapse, you will only receive 50% of the €125,000, (€67,500) because your property was underinsured by €125,000. The same applies if you over inflate or over insure the property value.
BANK INSURANCE POLICIES IN PORTUGAL.
Portuguese Bank insurance policies, offered when you take out a mortgage or a loan on that property, are always very expensive and the cover is very limited. Take care when contracting these Bank insurance policies as they can be very difficult to cancel, usually only cover the amount needed for the loan, have no contents or legal protection.
Our Property Insurance specialists can advise you on the correct type and value of the Property insurance needed and save you money. By having a Mortgage protection policy or something similar, your Insurance premiums can come down as you pay off your mortgage or loan against it, offer you adequate life insurance protection and you can cancel it at any time or change insurance providers if you sell or move to another property in later years.
We will find you the right cover for your property and make sure you have the protections needed at an affordable price.
CONTENTS INSURANCE IN PORTUGAL.
Bank insurance policies don’t normally cover your contents, or offer any additional cover, like accidental damage cover in the property.
Insuring your house contents can often include the value of your Kitchen as it can be considered part of the furniture. So, when calculating the value of your contents, add the value of replacing you Kitchen into the equation.
The best way to calculate the value of your belongings is to go room by room, calculate the value of what it would cost to replace those items, take a series of photographs for your own use, and keep them in a safe place.
In the event of a fire or total loss, you will have photographic evidence of what was in the property and this will greatly assist you in getting your claim paid out quickly, as well as having the correct values.
Don’t forget to calculate the costs of your furniture and belongings that are not kept inside the house, lawnmowers and gardening equipment, Sun loungers, BBQ’s, chairs, tools and umbrellas all add to the costs of your contents.
PROPERTY INSURANCE FOR VALUABLES, COLLECTIONS; ARTWORK AND JEWELLERY.
Jewellery and all risks cover is available in Portugal. Photographs may be required along with insurance valuations for expensive items such as jewellery and valuables. In the event of jewellery and watches etc, you will be required to have a safe that is secured to the property.
ALL RISKS INSURANCE IN PORTUGAL.
All risk property insurance and accidental damage insurance in Portugal covers your goods or valuables in the house for accidental damage or theft. If your dog were to accidentally knock over and break a glass vase, then that would be covered
All risks insurance outside the property is not so easy to get as this covers your jewellery and valuables outside the property. If your handbag were to be stolen from your car or supermarket trolley. It would cover such events, but usually only in the case of robbery with violence. If you forgot your handbag in the car and it got it stolen, it would be classified as negligence and not be covered or claimable.
INSURANCE FOR SWIMMING POOLS, BBQ AREAS AND TERRACES.
These are covered by the buildings insurance and the calculation of your insurance premium will be based on the size of the terraced area, the square meterage of the property and the size of your swimming pool. The swimming pool can be covered for cracks and leaks and repairs depending on the age and type of the construction.
COMPARE HOUSE INSURANCE IN PORTUGAL.
There are no comparison websites in Portugal for Expats in English or in Portuguese that we know of and would not provide you with the advice or offer a one-to-one conversation to privately assess your insurance needs.
MAKING AN INSURANCE CLAIM ON YOUR PROPERTY IN PORTUGAL.
Many Insurance Agents and Brokers in Portugal do not have a dedicated claim handler to handle your House insurance claim. We do. In the event of a claim, you would in the first instance, contact us or the insurance company, depending on the severity or urgency of the claim.
Our in-house claims handler will help you complete the claim, provide the correct information and process your claim. The claim handler will then organise for an Insurance inspection and a quote, or if you needed an urgent emergency repair, authorise you to get the work done immediately.
Our claims handler will continue to communicate with you during the whole process of the claim and help you get any repairs done what needs to be done, quickly and effectively.
Whether you have an apartment, bedsit, townhouse, static home, villa or mountain retreat, we can provide you with invaluable advice. Our advice is completely confidential and free of charge and you are under no obligation to buy from us. Our team of qualified insurance property insurance professionals are here to help you get the right insurance at the right price. Pay only for what you need.
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