Home insurance

What are the minimum and maximum ages for taking out a policy?

The Policy Holder must be of legal age, but there is not maximum age for taking out this type of insurance.

Is home insurance necessary?

Normally, our home tends to be the largest investment we make in our entire life. So, it would seem that protecting this asset would be our main priority.

And if we also take into account that a home often suffers incidents, some small and other a bit bigger, which affect the elements within our property, it become nearly essential to take out an insurance cover which resolves these incidents.

Aside from the material damage suffered by the insured assets, damage may be caused to third parties or situations may arise in which it is very important to have access to appropriate advice, claims and the defence provided by a good lawyer.

All of this and more, is covered by the OCASO HOMEinsurance, which offers you the best protection on the market with professionals who will resolve all of these situations, providing you with the tranquillity you deserve.

With just a simple phone call, we will be by your side 24 hours a day, every day of the year.

What should I keep in mind when taking out home insurance?

1. The first step is to choose the type of insurance which best adapts to your needs (more cover, only with basic cover, etc.). Ocaso has a wide range of insurance policies for your Home so you can choose your ideal product.

2. Once you have chosen the type of insurance, you must establish the insured sums for PREMISES, CONTENT, JEWELLERY, SPECIAL OBJECTS AND CIVIL LIABILITY.

What is the premises of my home?

The premises is comprise of the following buildings and concepts:
a) Main building.
b) Attached buildings (garages, storerooms, etc.).
c) Fences, walls, enclosures and gates.
d) Sharing ratio for common areas (only in the event of the home being part of community buildings or others governed by the Horizontal Property Law).
e) Swimming pools and sports facilities.

One must also take into account that the Premises includes the foundations, structure, walls, roofs, floors, doors and windows, as well as fixed elements such as toilets, air-conditioning units, heating equipment, TV, sound systems, fire extinguishing equipment, burglary protection systems and, in general, all assets which cannot be separated from the surface without causing impairment to asset itself or to the surface.

The Premises does not include solar panels, awnings and satellite antennas or dishes, which are part of the Content.

How can I calculate the insured sum of the premises for my home?

The insured sum of the premises must correspond exclusively to the current cost for rebuilding all the buildings comprising it, without being affected by the value of the land or the purchase-sale price. In order to calculate the capital for insurance purposes, the following must be taken into account:

a) The built surface in m² of the home, that is, the constructed m² of your home and the attached buildings (garages, storerooms, etc.), as well as your share of the common areas. In order to obtain the insured sum of these buildings, one must indicate the m² in the option called calculate price.

b) In the event of semi-detached single family homes or detached houses, we must also add the construction value of the fence surrounding the plot and the swimming pool, if applicable.

Should I take out home insurance if my owners' association already has an insurance which covers the building?

It is advisable to complement the Community policy with your own insurance, including the Premises and Content, for the following reasons:

a) The Community insurance normally includes community guarantees, due to which private incidents would not be covered, such as for example, damage caused by private water pipes in your own apartment and the repair of any breakdowns caused by the same.
b) There are assets which are part of the Premises and are not included in community policies, such as terrace enclosures, private boilers or refurbishment and improvement works carried out by the owner.
c) If the Insured Sum corresponding to the home in the Owners' Community policy were insufficient, a private policy would complement it and avoid any compensation for damages being reduced due to this circumstance.

Although the aforementioned is the ideal solution, OCASO also offers an optional cover for these cases, which can complement the community policy, by means of which, without including the Premises, certain common incidents are covered:
- Damage caused by water from the Premises.
- Aesthetic re-composition of the Premises.  
- Electrical damage to the Premises.

What is the content?

The content comprises the furniture, household furnishings, decorative objects, electrical appliances, special objects, jewellery and other equipment inherent and characteristic of a home which can be found inside the insured home and its attached buildings, as well as solar panels and satellite antennas.

How can I calculate the insured sum of the content for my home?

The insured sum for your home's content must be the true value of the following concepts:
a) Furniture.
b) Household furnishings.
c) Electrical appliances.
d) Decorative objects.
e) Awnings, satellite antennas and solar panels.
f) Special objects (art, antiques, silver objects, leather garments, collections and other objects of special value which are not included in the previous points).
g) Jewellery, fine costume jewellery, watches and similar objects.

We recommend that you calculate the total sum taking into account these concepts and do so each room at a time (hall, kitchen, sitting room, dining room, bedrooms, bathrooms, storeroom, etc.).

Are there objects or jewellery which require being mentioned expressly in order for them to be included in the insurance policy?

Of course, special objects, jewellery, fine costume jewellery and similar objects:

a) Special objects are considered to be art, antiques, silver objects, leather garments, collections and objects of special value, not included in the previous points. Provided their overall value does not exceed 50% of the total Content or their individual value exceeds 3,000 Euros, they must be expressly declared in order to be covered.

b) Jewellery, fine costume jewellery, watches and similar objects, are covered up to 10% of the total capital of the Content, with a maximum per incident of 600, 3,000 or 6,000 Euros (depending on the type of insurance taken out). In the event of there being more of these amounts or if there are jewels, costume jewellery, etc. with a unit value exceeding 1,500 Euros, these should be declared in order to be included in the insurance. One must also specify whether they are kept in a safe which is embedded in a wall or one which weighs more than 100 Kg.

How should I insure a painting of artistic value?

In all cases, works of art must be declared, identifying them with their characteristics, description, title, author and value.

It is also convenient to provide a clear photograph and a certificate of authenticity and valuation or invoice in the event of the work being of a significant value.

How can I insure jewellery?

Jewellery, fine costume jewellery, watches and similar objects are part of the Content, hence their value should be added to the remaining objects comprising it and they are covered up to 10% of the total capital of the Content, with a maximum per incident of 600, 3,000 or 6,000 Euros (depending on the type of insurance taken out). In the event of there being more of these amounts or if there are jewels, costume jewellery, etc. with a unit value exceeding 1,500 Euros, these should be declared in order to be included in the insurance.

One must also specify whether they are kept in a safe which is embedded in a wall or one which weighs more than 100 Kg. It is advisable to provide a clear photograph and a certificate of authenticity and valuation or invoice in the event of the jewels being of a significant value.

Can I insure only the content of the home if I am a tenant?

Yes, but you should also insure the premises of the home in order to guarantee claims made by the owner, in relation to any damage caused to the home (Example: Damage due to water, caused by forgetting to close the taps or a leaking washing machine).

For the same reason, it is also highly advisable to insure the content which is the property of the Landlord, that is, in order to avoid problems and dissatisfaction in the event of an incident, your insurance should cover all objects within the home, regardless of their ownership.

Does the insurance policy cover the tables and chairs I have on the terrace?

And those in my garden? Provided the terraces, roof terraces, gardens, patios and alike are for the exclusive access and use of the insured, the furniture and elements inherent to the home shall be included (excluding special objects, jewellery, watches and similar) which are located in said places, with an insured sum of 5% of the total content insured sum, with a maximum limit of 1,500 Euros per incident.

If I were to take my work laptop home, would this be covered by the insurance?

Objects belonging to third parties which are occasionally inside the home are considered to be part of the insured content, up to an insured sum of 10% of the insured sum of said Content, with a maximum limit of 3,000 Euros per incident.

What should I do if I buy more assets and want to include them in the insurance?

Contact OCASO immediately to increase the content capital, by means of the corresponding appendix, without waiting for the annual policy renewal to come up.

Is it important to correctly insure the sums of the premises and content? What is under-insurance?

In order to avoid dissatisfaction in the event of an incident, it is very important that the insured sums of the home and its content are not below the value of the insured assets. If that were to occur, the compensation would be reduced in the same proportion as the existing difference between both amounts.

In the event of an incident, the formula used for calculating the compensation would be as follows:

                           Value of the Damage x Insured Sum
Compensation =  ------------------------------------------------
                                           Value of the assets

This situation is technically known as "Applying the Proportional Rule for Under-insurance".

How is the compensation calculated in the event of an incident which affects and Premises and/or the Content of my home?

OCASO sends an expert to the insured home, in order to carry out the corresponding inspection of the damage and to determine the economic sum of the economic losses caused by the incident.

In the event of covered incidents which require the intervention of a professional, such as broken windows, damage caused by water, etc., OCASO will offer the insured party the possibility of resolving the problem using collaborating repair professionals. Most of the incidents can be resolved using this system, thus avoiding any inconveniences.

Are my children also insured under the home insurance?

Aside for the insured named as the holder of the OCASO HOME insurance, this policy also includes under-age or disabled children who are in the custody of the insured, as well as over-age children, parents and family members who have an economic dependence on the insured and who live in the insured home. The spouse or domestic partner is also insured.

Does it cover damage to third parties for an incident which has occurred in my HOME?

Yes, this would be covered.

By means of the Civil Liability, Legal Defence and Bails guarantee, any economic consequences affecting the insured due to the civil liability which may be legally enforceable, for the damage and losses caused to third parties due to fault or negligence and deriving from their status of owner and/or user of the insured home would be included. In the same manner, covering any necessary expenses for your Defence and Bails, with the limits established in the General Conditions of the policy.

Does it cover damage to third parties which may be caused by a dog I own?

Yes, even if it is caused by a dog considered to be potentially dangerous.

By means of the Civil Liability, Legal Defence and Bails guarantee, any economic consequences affecting the insured due to the civil liability which may be legally enforceable, for the damage and losses caused to third parties due to fault or negligence and deriving from their status of owner of domestic animal would be included. In the same manner, covering any necessary expenses for your Defence and Bails, with the limits established in the General Conditions of the policy.

In the event of owning more than one domestic animal, you must identify all the ones which are to be included in the insurance.

Does this cover damage I or my family may cause to third parties during holidays outside Spain?

Yes, except for in the United States of America and Canada.

By means of the Civil Liability, Legal Defence and Bails guarantee, including any economic consequences derived for the insured due to the civil liability which may be legally enforceable, for the damage and losses caused to third parties due to fault or negligence and committed due to actions caused by the insured or any person for which the insured is civilly responsible, occurred outside national territory, due to occasional stays for periods lasting no longer than three consecutive months. In the same manner, covering any necessary expenses for your Defence and Bails, with the limits established in the General Conditions of the policy.

If I run over a pedestrian with my bicycle, would the damage I cause be covered? And what if my under-age child runs a pedestrian over?

Yes, provided the cycling is as an enthusiast and the bicycle does not have an engine and does not require mandatory insurance.

By means of the Civil Liability, Legal Defence and Bails guarantee, including any economic consequences derived for the insured due to the civil liability which may be legally enforceable, for the damage and losses caused to third parties due to fault or negligence and committed due to actions caused by the insured or any person for which the insured is civilly responsible, in his/her condition of owner and/or user of the bicycles. In the same manner, covering any necessary expenses for your Defence and Bails, with the limits established in the General Conditions of the policy.

Does it cover damage to third parties caused by a motorised wheelchair?

Yes, provided the wheelchair doesn't technically exceed 10 km/h and it travels within areas authorised by the current laws.

By means of the Civil Liability, Legal Defence and Bail guarantee, including any economic consequences affecting the insured due to the civil liability which may be legally enforceable, for the damage and losses caused to third parties due to fault or negligence and deriving from their status of owner and/or user of the motorised wheelchair. In the same manner, covering any necessary expenses for your Defence and Bails, with the limits established in the General Conditions of the policy.

What does the Legal Assistance policy cover?

By means of the Legal Assistance guarantee, the Insurer takes charge of the expenses incurred by the Insured as a consequence of intervening in an administrative, legal or arbitration procedure, and shall provide the Insured with legal, in-court and out-of-court assistance services derived from this cover:

  • Claiming for damages.
  • Criminal defence in the scope of his/her private life (including as a pedestrian, passenger or non-professional sporting activities not related with vehicles).
  • Rights related to the insured home, as the owner or tenant of the same.
  • Defence for administrative offences related to the home.
  • Defence of the rights of the insured in individual work conflicts.
  • Claims for breach of service and consumer contracts.
  • Defence against domestic service.
  • Tax law.
  • Challenging the cadastral value of the insured home.
  • Defence and claims related to other insurance policies.

Also including Legal Telephone Assistance, by means of a lawyer advising you regarding any matter which is included in this cover.

What does the DIY Assistance cover consist of?

What does the DIY Assistance cover consist of? Ocaso DIY Assistance: When you request it, Ocaso will send a professional to the insured home, in order to carry out certain non-urgent DIY and maintenance works, which are occasionally required in order to preserve our home in good condition (Replacing sockets or light switches, fitting lights, changing taps, changing cistern mechanisms, putting up bathroom and kitchen fixtures, fixing rolling shutters and other tasks which are included in this guarantee).

What does the Multi-Services Assistance guarantee include?

Ocaso Multi-Services Assistance offers you solutions for a wide range of situations and problems which arise throughout our day-to-day lives. Including several Health, Social and Technological services, among others, as well as a series of tasks and being in contact with repairers, installers and professionals which you will require in the event of an incident which is covered by the insurance (painters, locksmiths, builders, electricians, plumbers, etc.).