Posted September 02, 2015 & filed under marbella estate agent marbella luxury property mortgage in spain spanish mortgages spanish real estate news -and- lifestyle
This figure is mainly because, as stated by 32% of the insured, the bank forces loaners to have insurance. In addition, the average premium is at 250 euros, according to an analysis of Rastreator.com.
The product manager of Rastrator.com, Fernando Summers said that, however, only 12% choose not to renew their home insurance once the mortgage has been cancelled and the vast majority of homes still continue with the insurance because of the benefits of being with the same company.
Of homes that do not have a home insurance, note that 6% say they don’t have it because they can’t afford it, 2.5% because there is no perceived risk by not having it.
According to the survey, 75.8% of Spanish homes are insured and a third of Spaniards (33.5%) claim to have contracted for the first time home insurance over the last five years, coinciding with the economic crisis and housing market recession.
In the distribution of home insurance by regions, the highest percentages were recorded in Basque Country (91%), Navarra (85.2%) and Madrid (82.7%). By contrast, the Canary Islands is the region with least insured households (61%), followed by Galicia (64.2%) and the Balearic Islands (67%).
In the period July 2014 to June 2015, the average home insurance premium stood at 250 euros. For communities, it is in Galicia, Cantabria and Asturias where it is more expensive to underwrite the policy, while the Canary Islands, Aragon and La Rioja are emerging as the cheapest.
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