According to the Spanish legislation, automobiles, motorcycles, seacraft and aircraft fall into the category of source of increased danger and are subject to compulsory insurance. The most popular insurance type in Spain is car insurance.
Types of Car Insurance in Spain
You can subscribe to the third party liability insurance (which is mandatory and most economic), or insure your vehicle against other accidents (theft, fire, damage, destruction). If desired, a motorist can hedge against all possible perils, in which case the insurer will indemnify the insured regardless of what party is responsible for the accident.
The comprehensive insurance scheme may include or not include deductibles. The less the deductible (the part of an insurance claim to be paid by the insured for repairing works), the larger the premium. The most expensive of all policies is the full comprehensive insurance scheme – «seguro a todo riesgo» или «seguro completo».
we all know, is always above wealth.
Car Insurance in Spain: Road Accident Claim Procedure
Upon a road accident, both drivers must fill in a European Accident Statement (agreed statement of facts on the accident). This form, along with a policy and and its payment receipt, should always be in the insured’s possession. When filling in the EAS, the participants must enter personal data, information concerning their cars, and their policy numbers. If all insurance issues are managed by a qualified agent, you have an advantage in that you can always take a legal advice (in person or by phone) to avoid undesirable mistakes that can postpone the claim settlement. The documentation package should also include a car accident diagram. After the documents are signed, both participants are given a copy to be submitted to their insurers within 7 days.
Car accidents are reported to the police only in disputable situations or if there are casualties. Upon receiving the EACs, insurance agents of the companies get into contact. Each company sends a claim adjuster to evaluate damage, and after that provides coverage for car repair shop services. If a vehicle is non-repairable and the contract terms cover this case, the full cost is indemnified (it’s evaluated with a special table, based on the model and production year of your car). Transportation of the damaged car to a car shop and passengers to their homes is carried out by means of the insurer.
Car insurance in Spain varies in cost, depending on its type, price of your car, length of driving experience, driver’s age and car’s accident history (bonification). The annual premiums range from several hundred to several thousand euros. If a driver has had no accidents for several years, he is granted a discount; if a policyholder had an accident due to his own fault, the premium may be increased.