Hacienda Riquelme Golf Resort

Community of Owners

 
Insurance

MAPFRE COMMUNITY INSURANCE POLICY - AND HOW IT AFFECTS YOU!

The community have negotiated an insurance policy with Mapfre, who are one of the biggest insurance companies in Spain.  Our Mapfre policy includes building insurance for every apartment and building, as well as the usual public liability insurance that the community must have.

The amount of cover that your apartment/building has is based on the cuota figures in your Escritura. You do not need to worry about the cuota figures – Mapfre have them already. The insurance covers the rebuild of your apartment/building. If you do not have a mortgage, this buildings cover will be sufficient.

However, if you have a mortgage, this standard amount of buildings cover may be less that your mortgage company requires, for instance we believe that CAM insist that you have 150,000€ cover. So you will have to approach your mortgage provider to see if they have a specific insurance minimum and, if necessary, arrange a top-up policy. Mapfre will quote you for a top-up but you can, if you prefer, make your own arrangements. For example, your apartment will have 101,000€ cover with the community policy but if your mortgage provider requires say 150,000€ as minimum cover, you will need a top-up policy to cover the 49,000€ difference.

Your mortgage provider will also require that they are named beneficiaries on the policy. Mapfre will provide a certificate for your mortgage company once you send the completed form below, usually within a few days.

The insurance options available through Mapfre are varied and you will need to study the detail to make sure that you obtain what is best for you.

Note: In the case of all these policies it does not matter if you live in the property, rent it out or leave it empty – as Mapfre have said a fire is a fire!

There are 6 options:-

  1. Contents only (All Risks or Familiar?)

  2. Building insurance - No mortgage? – the community policy is sufficient for building insurance purposes. No further action is necessary.

  3. Building Top-up policy via other provider – you will still need a Mapfre certificate to prove initial cover.

  4. Building Top-up policy and All Risks Contents.

  5. Building Top-up Policy and Familiar Contents.

  6. Building Top-up only.


Mapfre are offering the community a competitive price for your Contents insurance. They are offering an All Risks policy and a ‘Familiar’ policy.

Note: If you decide to have the All Risks Contents policy and a top-up policy – you can only buy the top-up at the higher premium. You cannot buy the cheaper top-up and the All Risks Contents!

Click here for the summary of cover Buildings Insurance

Click here for the summary of cover for the Contents - All Risks Policy

Click here for the summary of cover for the Contents - Familiar Policy

Click here for the application form – There is only the one form which covers all scenarios so make sure that you tick the correct boxes!

If you have any queries relating to any of the insurance policies, please address them to Mapfre – via Resortalia email:
hr@resortalia.com