|Insurance Buying Tips #1: Shop smart|
|When looking for insurance, your No. 1 priority should be to find adequate coverage. Price is important, but you’ll want to determine what kind of coverage you need first. Then you can fit that coverage into your budget and determine which carrier can provide you with the most comprehensive policy for your situation. You may be tempted to choose insurance with the lowest price tag, but if you don’t have enough coverage (or the right kind of coverage), you will see less financial benefit when it comes time to file a claim.|
|Insurance Buying Tips #2: Look for discounts|
|Once you evaluate your coverage needs, factor in your budget and find ways to save. Ask your insurance agent if there are any discounts on your coverage. Often, carriers offer discounts for things like paying your policy in full, staying auto accident-free or, if you’re in school, getting good grades. You also can save money by “bundling” multiple policies, such as purchasing a home and auto policy from the same carrier.|
|Insurance Buying Tips #3: Fill in the gaps|
|An average policy will cover the basics, but you may need to add extra coverage to meet your unique needs. For instance, you may have items like electronics or a nice piece of jewelry that would be financially difficult to replace, even with the assistance of your average renters or homeowners policy. You may want to add additional coverage for these items.|
It might seem like mere common sense to declare that the Insurance In Spain For Expats may differ greatly from the policies that they are used to back home, but it's a factor that is greatly underestimated by many of those seeking car, home or other vital cover as a new resident of the country.
This is one reason why Ibex Insurance Services exists! We are accustomed to serving expats and catering to their most specific requirements, so we thought we would outline just some of the ways in which the process of searching for and taking out insurance in Spain may be unfamiliar to you.
Language shouldn't be a barrier
One of the most obvious problems that many expatriates have to tackle when searching for insurance in Spain is the language barrier. Not every insurance provider may be able to offer their full list of services and products in the English language, which may make any aspect of purchasing insurance or making a claim nigh-on impossible.
|Insurance Buying Tips #4: Purchase life insurance—you aren’t too young|
|Life insurance is essential, no matter how young or old you are. And for millennials, buying now may be a smart move because it’s cheaper to buy a life insurance policy when you’re young and healthy. This kind of insurance can help your family cover unexpected costs in your absence, including student loan debt or a mortgage, in addition to end-of-life costs. And if you have kids, a life insurance policy can also support their education or childcare expenses. Additionally, every millennial should consider long-term disability coverage, which helps you stay afloat financially if an accident happens and you become disabled and unable to work.|
|Insurance Buying Tips #5: Talk to an independent agent|
|An independent insurance agent is an essential resource when purchasing insurance—especially if this is your first time. An independent agent works with multiple different carriers, which is different from captive agents who can only sell insurance from the carrier they work for. Working with an independent agent can help make sure that you are getting the best coverage, for the best price. You’ll also benefit from independent agents’ insurance knowledge; they know how to talk you through your options and actually explain what each policy includes. An independent agent will make sure all of your assets are covered, help you find discounts or other ways to save, and be a valuable resource as your life changes and your insurance needs change, too.|
|Insurance Buying Tips #6: Only buy insurance to maintain your existing standard of living|
|You don’t need insurance for events that won’t severely strain your finances. Start with your basic needs (home, auto, business), then work your way to include other needs (cyber, liability). You can always obtain coverage later for something if you change your mind. You can minimize your risk and maximize your savings by buying insurance that won’t cause you to break the bank.|
If your Spanish language skills don't exactly fill you with confidence, you'll be happy to hear that Ibex Insurance Services offers its own service in the English language, helping to ensure that you are suitably well-informed and select the high-quality insurance policy that represents the best match to your needs.
Don't let difficult documents deter you
When you are searching or applying for insurance in Spain, it's very possible that you will encounter some documentation that you have never come across before. It's to be expected that things may work slightly differently than in your country of origin, with all parts of the insurance process potentially affected, from your first enquiry to the payment of a claim.
Here at Ibex Insurance Services, we completely understand the needs of expatriates, not least as many members of our team also fall into this category. Whatever may be puzzling you in your search for the best insurance in Spain for expats, we can provide you with suitably tailored advice and guidance.
Remember that there's no need to panic or be alarmed when you are searching for a Spanish car, home or other insurance policy for the first time. Simply contact the Ibex team today to learn more about how we can give you the very best cover for your specific requirements, so that you can concentrate firmly on enjoying your new life in Spain.
|Insurance Buying Tips #7: Ask your insurance provider what the policy doesn’t cover|
|Every insurance policy has perils that are not covered by your policy. These perils are referred to as “exclusions”, and every policy has them. Ask your insurance provider to explain the exclusions in your policy to avoid discovering what they are once you incur damages or a loss.|
|Insurance Buying Tips #8: Consider bundling several policies with one insurance carrier|
|here may be value in bundling several policies with one insurance carrier. If you’re looking to insure multiple vehicles or obtain multiple types of business coverage (e.g., liability, property, cyber), then you may want to consider obtaining coverages under one insurance provider who carries multiple products, and who may be able to offer you multi-policy discounts or loyalty programs.|
|Insurance Buying Tips #9: Review your insurance needs on a yearly basis|
|As your needs evolve, so will your insurance policy. Maybe you’ve acquired a new vehicle since obtaining auto insurance for your primary vehicle, or started operating your business out of your home, or experienced a cyber-attack during the year… Whatever the change(s), you’ll want to make sure you’re covered for any new risk exposures. Talk to your insurance provider to stay on top of your insurance needs.|