Personal Insurance

Please note that the insured building value in your policy should reflect the reconstruction cost of the property, not its market or purchase value. It is based on an approximate estimate of the cost to rebuild the property using similar materials and construction standards.

Importantly, the value of the land or plot is not included in the reconstruction cost, as the land would still remain even in the event of a total loss.

In addition, features that increase the market value, such as sea views, location, or surrounding amenities, are not relevant for insurance purposes and are therefore not factored into the building sum insured.

Example: In the event of a fire, your property would need to be renovated: walls repainted, new floor tiles laid, windows replaced, and sanitary installations reinstalled. The insured sum must be sufficient to reconstruct and refurbish your property, not to purchase a new one.

It depends on the insurance company and the total value of the contents insured.

In general, we recommend declaring as few protections as possible, since in the event of a claim, having declared protections (like an alarm) that were not active at the time of the incident can work against you and lead to a reduction or denial of compensation.

However, from a certain contents value threshold, insurers may require minimum protections, which often include a connected alarm system. In those cases, declaring the alarm becomes necessary to comply with the insurer’s underwriting conditions.

Yes, in many cases it is possible to insure a property even if the final de obra (certificate of completion) has not yet been issued. However, insurers will typically require that the physical construction is fully completed and that the property is no longer considered a building site. Once the home is finished and you begin furnishing or occupying it, it’s important to switch from construction insurance to a standard home insurance policy to ensure continuous protection.

Generally, no—let us explain how this works:
When applying for home insurance, insurers typically do not ask directly whether the property is legal or has a habitation certificate (cédula de habitabilidad). However, in the general terms and conditions of most policies, it is clearly stated that properties without legal status or a valid cédula are excluded from coverage.

In practice:

• For minor claims, this usually doesn’t pose a problem, as loss adjusters (peritos) rarely verify the legal status of the property.
• But in the case of a major claim—especially one that would require rebuilding—the lack of legal status becomes a serious issue, as reconstruction of an illegal property is not permitted by law, and the insurer may deny the claim.

In Spain, there is no standalone individual insurance policy specifically for disability risk. Instead, disability coverage is always included as part of a life insurance policy. To obtain protection against total or permanent disability, you must contract a life insurance policy that includes this coverage, and it is always necessary to have a minimum sum insured for death.

Disability insurance provides financial security if, due to illness or accident, you are unable to continue your professional activity. The policy pays out a lump sum or regular income, helping you maintain your standard of living and meet your financial obligations in the event of permanent or absolute disability.

At Seippel & Seippel, we help you design a life insurance plan that includes the right level of disability coverage for your needs, ensuring peace of mind for you and your family.

Is there a standalone disability insurance policy in Spain?

No, in Spain there is no individual insurance policy exclusively for disability. Disability coverage is always included as part of a life insurance policy, and a minimum sum insured for death is required.

What does disability insurance cover?

Disability insurance (as part of a life policy) provides a lump-sum payment or regular income if, due to illness or accident, you are unable to continue your professional activity. Coverage usually includes both total and permanent disability.

Can I choose the amount of disability coverage?

Yes, you can select the insured capital for disability, but it must always be accompanied by a minimum death benefit, as required by Spanish insurers.

Who should consider disability insurance?

Anyone who wants to protect their income and financial stability in case of serious illness or accident that prevents them from working—especially self-employed professionals, business owners, and main family breadwinners.

Is a medical examination required?

It depends on the amount of coverage and your age. For higher sums or older applicants, insurers may require a health questionnaire or medical check-up.

How is disability defined for insurance purposes?

Disability is typically defined as the permanent and total inability to carry out your usual professional activity or any gainful employment, depending on the policy terms.

Accidents can happen when you least expect them, and their financial impact can be significant.

Accident Insurance provides protection against the consequences of unexpected injuries, offering compensation for medical expenses, hospitalization, and income replacement in case of temporary or permanent disability.

Unlike life insurance, accident insurance also covers partial disability, ensuring financial support even if the accident does not result in total incapacity.

Additionally, many accident insurance plans include coverage for sports activities, giving you peace of mind whether you’re at home, at work, or enjoying your favorite hobbies.

What does accident insurance cover?

Accident insurance provides financial protection in case of unexpected injuries. Coverage usually includes: Medical expenses and hospitalization, compensation for temporary or permanent disability, coverage for partial disability, death benefit in case of fatal accidents optional extensions for rehabilitation costs

Does accident insurance cover sports activities?

Yes, many accident insurance policies can include coverage for sports activities, including amateur and recreational sports. High-risk or professional sports may require special conditions or exclusions.

How is accident insurance different from life insurance?

Life insurance primarily covers death and sometimes total disability. Accident insurance, on the other hand, covers injuries and disabilities caused by accidents, including partial disability, which life insurance does not typically cover.

Who should consider accident insurance?

Anyone looking for extra protection beyond health insurance—especially individuals with active lifestyles, frequent travelers, or those working in environments with higher accident risk.

Dependency Insurance offers you and your loved ones true peace of mind in the face of life’s most challenging circumstances.

If, due to illness, accident, or age, you become severely or greatly dependent and require help with daily activities, this policy guarantees a substantial lump-sum payout. The benefit can be used to cover the costs of professional care, adapt your home, or compensate for lost income—ensuring you maintain your quality of life and independence.

With renewable coverage up to age 80, Dependency Insurance adapts to your needs as you move through different life stages.

In addition to the financial benefit, you’ll have access to free legal and tax advice for you and your family, helping you navigate any questions or challenges that may arise. Premiums may also be tax-deductible under current Spanish law, making this protection both practical and financially smart.

Choose Dependency Insurance for comprehensive support and the confidence that, whatever happens, you and your family will be prepared.

What is Dependency Insurance?

Dependency Insurance pays out a lump sum if you are officially recognized as severely or greatly dependent, meaning you need help with basic daily activities due to illness, accident, or age.

What is the difference between severe and great dependency?

› Severe Dependency: Need help with daily activities two or three times a day, but not constant care.

› Great Dependency: Need help several times a day and require continuous support from another person.

Who can take out Dependency Insurance?

Anyone up to age 80 can apply, subject to a health declaration and, for higher sums or older ages, additional medical or financial checks.

What is the insured capital and how is it paid?

You choose the insured capital (e.g., €100,000). In case of severe dependency, the policy pays the insured amount; for great dependency, it pays double.

Income Protection Insurance is a standalone policy designed to protect your income if you’re unable to work due to illness or accident. It provides a daily  benefit that helps cover your essential expenses—such as rent, mortgage, groceries, and family needs—while you recover.

This type of insurance is especially valuable for self-employed professionals, who do not have the safety net of a fixed salary paid by an employer during periods of sick leave or hospitalization. It ensures financial continuity by paying a daily amount for each day you’re unable to work due to medical reasons.

At Seippel & Seippel, we help you customize your coverage so that, even in the face of temporary incapacity or long-term illness, you can maintain your lifestyle and focus on what matters most: your health.

This policy offers peace of mind—because anyone can fall ill, and knowing your income is protected allows you to recover without financial stress.

What is Income Protection Insurance?
Income Protection Insurance is a standalone policy that provides financial support if you’re unable to work due to illness or accident. It pays a daily benefit to help cover your living expenses while you recover.

How does Income Protection Insurance work?
It depends on the type of policy you choose, but generally, there are two main formats:

1. Fixed Benefit (Baremado Product):
   The insurer pays a predefined number of days based on a medical scale that assigns a fixed recovery period to each illness or injury. For example, a common cold might be covered for 7 days, regardless of the actual duration of your sick leave.
2. Simple Daily Income (Renta Simple Product):
   The insurer pays for the actual number of days you are officially on sick leave. This usually requires a medical certificate or confirmation of leave from the Spanish Social Security system to determine the exact duration.

Can I customize the coverage?
Absolutely. At Seippel & Seippel, we help you tailor your policy to match your profession, income, and personal needs—ensuring you’re protected in case of temporary incapacity or long-term illness.

Is there a maximum duration for receiving benefits?
Yes, policies often set a maximum benefit period (e.g., 12 months, 24 months). You can choose the duration based on your needs and budget.

Is there a waiting period before payments begin?
Yes, most policies include a waiting period (e.g., 7, 14, or 30 days) before benefits start. You can choose the waiting period that best suits your financial situation.