What is the owners’ community insurance?

All owners’ communities must often face a series of expenses arising from unexpected wear and maintenance. Water, fire, smoke, electrical damage...can lead to substantial contributions which the property owners must pay equally.

To avoid problems within a community, the easiest option is to take out a multi-risk insurance that covers all these situations and leaves the insurance company to deal with any possible damage.

Why take out owners’ community insurance?

In Spain there is no state law that forces communities to take out owners’ community insurance cover. However, in Madrid and the Valencian Community there are additional legal obligations which demand that all buildings be insured against fire and damage cause to third parties.

It is also highly recommendable to take out insurance cover that avoids disagreements among the neighbours and having to pay large sums of money every time something goes wrong.

What owners’ community insurance covers do we offer?

So you don’t have to worry about all the accidents that could occur in your community, Ocaso offers Ocaso Condominium Integral. An insurance cover that will provide 24-hour assistance, compensation for electrical damage, fire, smoke and acts of vandalism among many other coverages.