All-Risks Home Insurance in Spain: What It Covers and Costs

All-risks home insurance in Spain (seguro de hogar todo riesgo) covers damage to your property from any cause the policy does not specifically exclude, rather than only from a list of named perils. In practice the label is used loosely: two policies both sold as “all risks” can differ sharply in sum insured, sub-limits and excess. What protects you is the wording, not the name on the front page.

This guide explains how the cover works, what it can include, where the gaps usually sit, and what a holiday-home owner or a first-time buyer should check before signing.

TL;DR

• “All risks” means anything not excluded is covered, but each policy still has exclusions, sub-limits and an excess, so read the exclusions list first.
• Extraordinary events such as earthquakes and extraordinary floods are handled through the state Consorcio de Compensación de Seguros (CCS), funded by a surcharge on your premium.
• Get the continente (building) and contenido (contents) sums insured right, or the proportional rule can reduce every claim.
• If the home is empty for long periods, check how many days of vacancy your insurer allows before theft cover is suspended.
• Average home insurance in Spain cost around €265 a year in 2025, with wider cover costing more than basic cover.

Table of Contents

• What “all risks” means in Spain
• What an all-risks policy can cover
• Exclusions, limits and excesses to check in the wording
• Holiday homes and empty properties
• Is home insurance compulsory in Spain?
• What all-risks cover costs in Spain
• How to choose an all-risks policy, step by step
• Our perspective
• Arrange your cover in English
• FAQ
• Sources

What “all risks” means in Spain

Spanish home insurance is normally sold as a multirriesgo package: fire, water damage, theft, glass breakage, civil liability and a set of extras in one policy. The “named perils” model lists what is covered, and anything outside the list is not. An all-risks (todo riesgo) model reverses the logic: the insurer covers sudden, accidental damage unless the contract carves it out.

That reversal is useful, but it is not unlimited. Typical exclusions in any property policy include wear and tear, gradual deterioration, lack of maintenance and deliberate damage. Many insurers also apply sub-limits to specific items, such as jewellery, art, electronic equipment or outdoor furniture, and a stated excess (franquicia) per claim.

So when you compare quotes, treat “all risks” as a starting point for questions, not as an answer. Ask for the policy conditions (condiciones generales) and the particular conditions (condiciones particulares), and compare the same sums insured on each.

What an all-risks policy can cover

A Spanish home policy has three building blocks. Whether each is included depends on the product, so confirm all three on the quote.

Within those blocks, wider cover commonly adds accidental damage to the building and contents, extended water damage, theft with and without forced entry, vandalism, storm damage, legal defence and emergency assistance such as a plumber or locksmith. For a plain-language overview of the standard package, our guide to what Spanish home insurance covers goes through each item.

Extraordinary risks and the CCS

Some events are not left to the private insurer. Under Real Decreto 300/2004, the Consorcio de Compensación de Seguros indemnifies losses from extraordinary events in Spain, including earthquakes, tsunamis, extraordinary floods, volcanic eruptions, atypical cyclonic storms and terrorism. The regulation requires a CCS surcharge on the relevant policies and ties the cover to the same goods and insured amounts as your ordinary policy.

Two practical points follow. First, the surcharge appears as a line on your premium receipt, so you do not arrange it separately. Second, because CCS follows the sums on your ordinary policy, an under-insured home is under-insured for extraordinary events too. A professional overview of the scheme adds that CCS acts as a direct insurer paying on the same terms and amounts as the private contract, and applies no deductible to residential property.

Not every loss is extraordinary, though. An ordinary storm, a burst pipe or a theft is handled by your insurer under the policy. Wildfire has its own points to check, which we cover in our article on wildfire damage and Spanish home insurance.

Exclusions, limits and excesses to check in the wording

This is where the real difference between policies sits. Before you accept a quote, go through these points with the adviser.

1. Sum insured for the building. It should reflect the cost of rebuilding, not the purchase price. Your price includes land and location, which an insurer does not rebuild.
2. Sum insured for contents. Add up furniture, appliances, clothing and electronics honestly. A rough guess is the most common cause of disputes.
3. The proportional rule (regla proporcional). If the sum insured is lower than the real value, the insurer may pay only the same proportion of the loss. This is the clause that bites hardest: a €10,000 claim on a home insured at 70% of its value could be paid at roughly 70%, even if the loss is far below the sum insured.
4. Sub-limits. Jewellery, art, collections, bicycles, electronics and items kept outdoors often have their own caps. Declare valuables separately if they exceed them.
5. Excess (franquicia). Some policies deduct a fixed amount per claim, others apply none. A lower premium sometimes means a higher excess.
6. Water damage conditions. Check whether the cost of locating and repairing the leak is covered, or only the resulting damage, and whether damage from long-term seepage is excluded.
7. Theft conditions. Many policies require evidence of forced entry, working locks or shutters, or specify what happens to items taken from terraces and storerooms.
8. Occupancy. See the next section.

If you are unsure how to read a clause, ask before you sign. A bilingual broker can walk you through the Spanish original line by line, which is a large part of what we do for expat owners. Our list of five home insurance mistakes expats make shows the errors we see most often.

Holiday homes and empty properties

If you live in Spain only part of the year, occupancy rules matter more than almost any other clause. Insurers distinguish between a main residence and a second home, and they set a maximum number of consecutive days the property may stand empty before theft cover is suspended.

According to a guide on insuring Spanish property, theft cover on a declared permanent residence is typically suspended after 30 consecutive days of vacancy, while a property declared as a holiday home may allow up to 180 days. The same guide says fire, water damage and liability usually stay active regardless of occupancy. Limits differ by insurer, so treat these figures as typical, and confirm the exact number in your own policy conditions.

There is also an honesty issue. Declare the property’s real use. A home presented as a main residence when it is really a holiday let or second home can lead to a rejected claim. If you rent the property out, tell the insurer, because letting changes both the risk and the liability cover you need. For more on how vacancy and use interact with rental, this guide to insurance in Spanish rentals is a helpful companion.

Practical steps for owners who are away for long periods:

• Ask a neighbour, caretaker or property manager to visit regularly and keep a dated record.
• Switch off the water at the mains when you leave.
• Keep shutters, locks and any alarm in working order, since theft cover often depends on them.
• Note the policy’s vacancy limit in your calendar before each trip.

If you own in a resort area, local conditions also change the picture. We have written specific guidance on apartment and community cover in Torrevieja and on apartment insurance in Fuengirola, Benalmádena and Mijas, where the community’s own policy and yours need to fit together.

Is home insurance compulsory in Spain?

There is no general law requiring every owner to hold home insurance. A mortgage is the usual exception: lenders normally require damage cover on the mortgaged building, and often the bank will offer its own policy. That requirement is usually met by cover on the continente, so it does not mean you need contents or liability cover to get the loan. Ask your lender precisely what it requires, and remember you can generally compare alternatives that meet the same conditions.

Even where nothing is compulsory, going without cover leaves you exposed to the cost of fire, water damage and claims from neighbours. If you live in an apartment block, a leak from your flat can damage several others, and liability cover is what answers that bill.

What all-risks cover costs in Spain

Because no two homes are alike, there is no single price for all-risks cover. As a reference point, El Español reports that in 2025 the average home insurance premium in Spain was around €265 a year. Basic policies cost roughly €100 to €150, while extended cover could exceed €250 to €300. The type and location of the home, the value of the property and contents, and how the home is used all push the premium up or down.

What moves your quote in practice:

• Rebuild value and contents value. Higher sums insured mean higher premiums, and also correct payouts.
• Location. Flood, wildfire or burglary exposure in your area changes the risk.
• Occupancy. Main residence, holiday home and rental are priced differently.
• Excess. A higher excess usually lowers the premium.
• Optional extras. Accidental damage, valuables and legal cover each add cost.
• Security. Alarms, reinforced doors and shutters may be taken into account by some insurers.

When you compare quotes, compare the same sums insured, the same excess and the same extras. A cheaper figure that quietly lowers the contents value or removes accidental damage is not a better deal.

How to choose an all-risks policy, step by step

1. Define the property. Size in square metres, build year, construction type, whether it is a flat or villa, and extras such as a pool, garden or outbuildings.
2. Declare its use. Main residence, holiday home or let, and the longest period it will stand empty.
3. Value building and contents. Use rebuild cost for the continente and an honest inventory for the contenido.
4. List valuables. Jewellery, art, electronics and bicycles with their approximate values.
5. Request comparable quotes. Same sums, same excess, same extras from several insurers.
6. Read the exclusions and sub-limits. Ask for translation of anything unclear before you pay.
7. Keep the documents. Save the policy, receipt and photos of your belongings in an accessible place.

When something goes wrong, speed helps. Our guide to the first 24 hours when filing a home insurance claim lists what to photograph, who to notify and what to keep.

Our perspective

Most expats we meet are not looking for the most expensive policy. They are looking for one they can understand, with sums insured that match their home, and a clear answer on what happens if they are away for two months.

We compare cover across more than 11 Spanish insurers, so you see how the same sums insured, sub-limits and excess look side by side, in English, before you commit. Our service is free to you: we are paid a commission by the insurer when a policy is arranged, and that does not change what you pay.

Our advice is to spend your time on three things: the rebuild value, the occupancy declaration and the exclusions list. Get those right and the label “all risks” starts to mean something. Get them wrong and even a generous-looking policy can disappoint at claim time.

Jake

Arrange your cover in English

If you would like help comparing home policies in Spain, our bilingual team can explain each option in plain English and arrange the policy you choose. Start with our page on home insurance in Spain for expats, or see the full range on the Insurance Spain homepage.

We compare quotes from leading insurers such as Mapfre and Allianz, with no hidden fees and no jargon. If you also want a broader view of owning a home here, our home insurance guide for expat owners is a good next read.

FAQ

Is all-risks home insurance the same as comprehensive home insurance in Spain?

The two terms are used interchangeably by many sellers, but neither has a fixed legal definition. What matters is the list of exclusions, the sub-limits and the excess in the contract. Compare policies on those details rather than on the label.

Does all-risks cover include earthquakes and floods?

Extraordinary events such as earthquakes and extraordinary floods are covered by the Consorcio de Compensación de Seguros under Real Decreto 300/2004, financed through a surcharge on eligible policies. The cover follows the goods and sums insured on your ordinary policy. Ordinary storms and water damage are handled by your insurer under the policy conditions.

Do I need all-risks cover for a holiday home I rarely visit?

Wide cover is often sensible for an empty property, but the key checks are the vacancy limit for theft cover and an accurate declaration of use. Ask the insurer how many consecutive days the home can stand empty. Fire, water damage and liability should remain a priority whatever the occupancy.

Can I get home insurance in Spain if I do not speak Spanish?

Yes. A bilingual broker can compare insurers, translate the conditions and arrange the policy in English. You still sign a Spanish contract, so ask for the sums insured, exclusions and excess to be explained before you accept.

Sources

• Real Decreto 300/2004, BOE
• Spain description, Web World Forum
• Property insurance in Spain explained for foreign buyers
• El Español: seguros de hogar y prima media

Recommended

• Home Insurance Spain: Guide for Expat Owners
• Spanish Home Insurance Coverage Explained
• Home Insurance Spain: 5 Expat Mistakes to Avoid
• Holiday Home Insurance Spain | Non-Resident Guide