QUESTIONS & ANSWERS ABOUT INSURANCE IN SPAIN

The public health system with fewer and fewer resources, longer waiting lists and increasingly automated health care is leading more and more people to rely on the benefits of private health insurance.
For our well-being, we all need quality healthcare. One in five Spaniards now has private health insurance.

Nowadays, private health insurance is becoming more and more indispensable in people’s lives. It is necessary to deal with non-ordinary events that can endanger the health of adults and children.
Moreover, private health insurance policies are absolutely affordable and not comparable to the prices in other countries. They are offered in different modalities that prospective customers can choose from depending on their budget and preferences.

Private health insurance policies can also be purchased for a wide range of people in the market, from individuals to the entire workforce of large companies.
There are many offers, many companies and many options on the insurance market. Sound advice is all the more important to study the various offers and coverages carefully. After all, in the end you only want to take out the product that you actually need.

The main advantage of a private health insurance policy is that it allows you to avoid the long and difficult waiting lists of the Spanish social security system.
Of course, there are more advantages and benefits:

· Going directly to a specialist without going through the family doctor.

· Primary care includes general medicine, general consultations, home and outpatient emergencies, paediatrics and much more.

· A wide range of medical professionals specialising in different health areas, english speaking specialists are also represented.

· Renowned hospitals and clinics.

· Second medical opinion.

· Single room with a bed for an accompanying person.

· Antenatal care and gynaecological screening.

· Annual preventive medical check-up.

· Supplementary dental care and children’s dental care.

· Support when travelling abroad.

· Medical care around the clock by telephone.

· No restrictions on internal prostheses.


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Insurance companies offer complete packages for owners and also tenants of a property, which are more or less directly related to the house or family life. These can include, for example, liability insurance, travel insurance or legal expenses insurance.

Building contents insurance in Spain is the insurance with which the owner or occupier of a house wants to protect himself against the risks of damage of various kinds: fire, natural hazards, electrical short circuits, burst pipes, household accidents, storms, robberies, theft & burglary, loss of rent, and much more.

These insurances also cover civil damage that may be caused to other persons or their property by the dwelling, such as falling objects from windows or balconies, flooding on lower floors, etc.

Your home is probably the biggest investment of your life and also the place where you spend most of your time. Don’t you think it’s worth carefully analysing the different options to choose the most suitable insurance?

Home insurance is the one that offers you a higher insured value and greater coverage at a low cost. In recent years, most companies have greatly enhanced their home insurance policies by expanding the existing coverage and adding numerous coverages and benefits that were not previously considered.

If your home insurance policy is more than 4 years old, you may be paying more than you need to or have less coverage!


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Nationally, there is no rule or obligation for a condominium owners’ association to take out a policy.
However, there are regional regulations that may require the purchase of this insurance. For example, condominium owners’ associations in the municipalities of Madrid and Valencia are required to take out community insurance that covers the risk of fire and damage to third parties.

Just as motorbike insurance and truck insurance are not the same thing, the first thing we need to understand about insurance of this type is the difference between a private building with one owner and a condominium owners’ association for a building where several neighbours live.

For this reason, it is very important to know what coverage this type of insurance includes.
Within this type of coverage, insurers usually include the following coverages. There may be differences from one insurer to another.

· Civil liability
Coverage in case of receiving compensation claims for damages caused to third parties. For example, if an element of the façade falls down or comes loose and injures someone, this cover will be responsible for compensation. Also in the event of a break in a communal pipe and damage to property by the building’s occupants.

· Legal advice
Usually from the insurer’s solicitors or reimbursement of costs in protocols from community solicitors.

· Fire
This cover insures the neighbouring community against damage caused by fire, explosions, direct exposure to lightning or abnormal electrical currents.

· Vandalism and theft
Coverage for vandalism or rioting that results in property damage to the building.

· Water damage
Guarantee for floods, leaks and other damage that may occur within the community.

· Breakage of windows and crystals of community elements.
Cover for accidental breakage of community windows and crystals.

· Intervention of fire and rescue services
Reimbursement of costs caused by the intervention of fire and rescue services for the application of measures to limit or eliminate the consequences of the incident. Demolition and debris removal

The average insurance price for a homeowners’ association insurance policy is not easy to calculate. It can range from 600 to 2,500 euros, depending on the building, number of neighbours, guarantees, etc.

The possibility of contracting a franchise is another factor to consider when determining the price of this insurance. The aim of the insurance franchise is to reduce the annual premium of the policy for the condominium owners’ association. In return, the condominium owners’ association covers an agreed amount of damages itself and the rest is covered by the insurance company.


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Compulsory insurance is the insurance that is required by law for all vehicles, even if it is not driven.

The compulsory insurance for vehicles in Spain is third party insurance (RSO). Compulsory car insurance covers the driver’s liability. This concerns the damage that you, as the driver of a vehicle, may cause to third parties or other vehicles in the event of an accident for which you are responsible.

Compulsory insurance is the most basic insurance for your vehicle. Drivers also have the option of taking out voluntary insurance for their vehicle, which offers additional protection.

Voluntary insurance, as the name suggests, is insurance that motorists choose to take out for their vehicle out of their own motivation.
The compensation provided by compulsory insurance is not unlimited. In the case of personal injury, the maximum amount per claim is 70 million euros, and in the case of property damage, 15 million euros per claim.

If only compulsory insurance is taken out, the costs exceeding this are to be borne by the driver. We therefore recommend taking out voluntary liability insurance. This insurance covers the costs that exceed the costs covered by the compulsory insurance. The amount agreed in the conditions for property damage is usually 50 million euros per accident.

Further, however, it should be noted that neither compulsory nor voluntary third party liability covers the damages of the driver or his family members up to the third degree. For this purpose, you can take out driver’s accident insurance, under which the insurer covers the driver’s damages in the event of an accident.

This is an extension of third party insurance with certain benefits that supplement the insurance. The most common guarantees added to this type of policy are usually glass, theft and fire damage.

In addition, many insurers allow you to “tailor-make” your insurance policy. For this purpose, the companies offer packages with extended guarantees or give you the option to choose yourself which coverages you want to add to your policy.

The latter is an interesting option if you want to improve your insurance without excessively increasing the premium.
In addition, certain companies also offer the option of insuring damage caused by animal collisions, weather conditions or the total loss of the vehicle if the repair value exceeds the market value of the vehicle.

As it includes all the coverages of the previous modalities (third party liability, legal protection, driver’s insurance, windows, theft, fire, etc.), it is the most comprehensive modality of all.

Own damage is added as an additional cover. This guarantee now covers the damage caused to the vehicle, even if the insured is at fault. As it is the most comprehensive option, it is of course also the most expensive of all.
After all, this way you can take advantage of most of the services and benefits of comprehensive insurance.

The company usually sets an excess, which is applied to the damage to the vehicle itself and for which the insured must pay a fixed amount or a percentage of the costs incurred in the event of a claim.
If you are a good driver and have not had many accidents in your past, this can therefore be a recommendable option to reduce the premium this way.

The compensation in case of a total loss depends directly on two factors: the age of the vehicle and the compensation value. The latter is determined as follows:

New value:
This is the value of the new car paid to the insured in the first and in some cases the second year. In the event of a claim, the insured person would receive the value of a vehicle of the same make and model with the same characteristics.

Traffic value:
At the end of the “as new” value period, the insured receives the value of the vehicle at the time of the claim. This is the amount he would receive if the insured had taken his car to a dealer at that time.

Market value:
This is the purchase value of the vehicle at the time of the accident, not taking into account the condition of the vehicle, only its age. This value is usually slightly higher than the market value.

Affection value:
This value results from a premium of 20 to 30% on the market value. This value is applied if there is a difference of 50 to 100% between the market value and the repair value.


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For example, the third party insurance does not cover the damages of the driver. These are more important than those of the motorbike, so all-risk insurance is a very good option to supplement compulsory insurance. In addition, these insurance policies reimburse the full value of the motorbike in the first few years, and roadside assistance is usually included.
Riding a motorbike or moped involves many risks, some of which we are not responsible for. It is important to always be well insured.

Covers damage caused by a collision with another vehicle or by yourself. These products are available with an excess (i.e. you pay part and the company pays the rest) or without an excess (i.e. the company pays the whole cost). Comprehensive insurance is important for new, semi-new or very well maintained vehicles.

Damaging a motorbike is much easier than damaging a car, so it is relatively more expensive to cover your own damage in a motorbike insurance policy than in a car insurance policy.

A moped is a means of transport that usually has 2 wheels and is equipped with an engine with an engine capacity of less than 50 cubic centimetres and can reach a maximum speed of 45 km/h. To obtain a moped licence, you must be over 15 years old. To carry passengers, you must be at least 18 years old. These vehicles are not allowed on motorways or rural roads and must go for an ITV every 3 years (if they have 2 wheels) or every 2 years or less (with more than 2 wheels).


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With legal protection (protección jurídica), the insurer covers the costs that the insured person may incur as a result of intervention in administrative, judicial or arbitration proceedings. The insurer provides the insured person with the judicial and extrajudicial legal assistance services derived from the insurance cover.

Legal defence (defensa jurídica) has the same purpose, but the insurer has the right to appoint the lawyers, prosecutors and experts himself.

With legal defence (defensa jurídica), the insured person has this right on his or her side.

· Unlimited legal assistance by telephone: the lawyers are available to clarify legal issues, with an unlimited number of consultations.

· Consumer defence: The insurance company will advise you and take the appropriate steps if you have bought something and are not satisfied.

· Drafting and reviewing contracts: If you want to draft a legal document or have it reviewed, the company’s lawyers are at your disposal.

· Legal defence against the public administration: if you are faced with a sanction or want to defend your rights as a citizen, the company will defend you.


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Yes, in case of infection, this travel insurance covers medical assistance for COVID-19.

As an insured person, in the event of a positive test for COVID-19 disease prior to travel, you can recover the cancellation costs up to the maximum limit specified in the contract.

In the case of a family member, cover is provided if they are symptomatic and hospitalised for at least one night or required to stay in bed for 3 days (in the 7 days prior to travel).

In this case, the travel insurance does not cover cancellation costs if the COVID-19 pandemic has been declared or is declared in the destination country to which you wish to travel.


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To make a realistic calculation, the first thing you need is a reference or starting point. For this, we recommend calculating the annual expenses of the last five years.

In addition, any outstanding debts must be calculated: Mortgages, loans, etc.

Future expenses can also be included. These are costs that are not yet due but are foreseeable. For example, this could be the cost of the child’s first year of studies next year.

At this point in the analysis, it is important to consider the family’s sources of income that are independent of those of the insured.

Do not forget resources that are an exceptional source of income, such as rent for a flat. Also add any social benefits received: widow’s or widower’s pension, orphan’s pension, etc.

If the sum of this income is not sufficient, the answer to this question is clear:
You and your family need life insurance.
With term life insurance, you can sleep soundly because the balance is maintained.

Life insurance cover
The main guarantee of a life insurance policy is the coverage of the natural death of the insured person.
Other coverages can be included in addition:

Permanent and absolute disability
In the event of total disability, the agreed capital is paid out to the insured person.

Total and permanent disability (occupational disability)
In this case, the agreed capital is paid out to the insured person.

Double capital in the event of an accident
In the event of accidental death or disability, the insured person receives double the capital sum insured in the main guarantee.

Triple capital in the event of a traffic accident
In the event of death or disability as a result of a traffic accident, the insured person receives three times the capital sum insured in the main guarantee.

Serious illness
If the insured person is diagnosed with a specific illness, the company will pay out the insured capital.


Insurance options
· Death
· Death by accident
· Death due to traffic accident
· Permanent and absolute disability (PPI)
· Permanent and absolute disability due to an accident
· Permanent and absolute incapacity due to a traffic accident
· Permanent and total incapacity (IPT)
· Serious illnesses
· Early death benefit in the event of a terminal illness with a life expectancy of less than 12 months.
· Terminal illness with a life expectancy of less than 12 months
· Additional lump sum in case of joint death of the insured and his/her spouse or civil partner as a result of road accident leaving joint children below 18 years of age.


Additional services:
· Online will for you and your spouse or unmarried partner
· Second medical opinion
· 24-hour telephone for medical advice
· Telephone nutritional Advice
· VIP services, with personal assistant
· Digital end-of-life management
· Telephone advice in the event of death
· Advice and administration of inheritances


Modality of tariff:
· Annually renewable tariff
· Single payment


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This type of insurance covers personal injuries that may be caused by an accident in the course of professional or non-professional activities.

To be considered an accident, the following conditions must be met: there must be a violent, sudden, external and unintentional cause to the insured person. This cause must lead to an effect, either death or disability (temporary or permanent).

Therefore, this product is designed to provide coverage in case of death or disability if the cause is an accident. In addition to these coverages, accident insurance can be supplemented by daily hospital allowance, daily accident allowance or even nursing care.
Personal accidents in our private and professional lives can lead to death or disability and affect our family life. Cover your family’s financial needs in the event of an accident 24 hours a day, all year round, at a very low cost.

In 2020, around 505,528 accidents at work occurred in Spain. Of these, 88.3% occurred during the working day and 11.7% in the evening hours. 634 were fatal.
In Spain, accidents at work and occupational diseases are subject to a special regulation involving the employer and the institutions cooperating with social security, mainly the mutual accident insurance institutions. Occupational accidents or diseases can lead to compensation and liability. It is very important to be well advised in this area.


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Generally, it is compulsory for all power-driven boats, including jet skis. However, non-powered boats only need to be insured if they are longer than 6m. Foreign boats sailing in Spanish waters must also be insured.
Since 1 July 1999, it has been compulsory to take out third party liability insurance for pleasure boats, including jet skis, in accordance with Decree RD 607/1999 of 16 April 1999.
Navigation without the insurance for recreational boats can be sanctioned. As a rule, marinas require the insurance in order to allow a boat to stay or enter their facilities.

Compulsory boat insurance usually covers property damage to third parties caused by the boat, payment of the judicial and extrajudicial costs of defending the insured and settling claims, death and personal injury to third parties. Usually with an economic limit. Furthermore, economic losses of third parties due to property damage and bodily injury and damage to vessels due to collisions are covered.
To prove that the vessel is insured, proof of payment of the premium for the current period must be carried on board, showing the name of the insurer, the identification of the vessel, the duration of the insurance and that compulsory insurance is included.

If this information does not appear on the receipt, the ship’s policy must be carried. If the authorities require the documents and they are not on the vessel, the policyholder has 5 working days to prove their validity.
Bohemia Mallorca attaches great importance to high quality, especially in the selection of insurance products. You will find us in Mallorca, Ibiza and the Balearic Islands.


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Taking out pet insurance can be very useful in the following situations:
· When the pet is your lifestyle or is a part of it. Farmers are the clear example.

· The animals bite (scratch, kick, gouge…) and the responsibility for the damage caused lies with the owner.

· In case of illness of the animal.

· Loss or theft of the pet.

· If for some reason you cannot take care of the pet one day (stay in hospital, etc.), you need a place for its temporary accommodation.

The main coverages you can include in your pet insurance include:

· Reimbursement of veterinary expenses, up to 90% of the cost is possible.

· Expenses for medication for the pet.

· Prevention costs such as more frequent check-ups and vaccinations.

· Cremation, costs associated with the euthanasia of the pet and its burial.

In addition, the cover provided by liability insurance if they cause damage to third parties.
This also includes, for example, coverage for damage to the animal or its stay in shelters.


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The company health insurance cover includes consultations with general practitioners as well as all medical specialities.
It also includes the necessary diagnostic tests for each of these specialties, such as blood tests, radiology, MRI scans and a long list of other services.

The most solid companies in the country have one thing in common: they offer health insurance to their employees.
You may also think that taking out a company health insurance policy only benefits your employees, but that’s not true.
We, as insurance experts, will be happy to advise you on the tax advantages of company health insurance, which are available to companies.

Company health insurance is aimed at:
· Companies and businesses that care about the well-being and health of their employees.
· Companies with 3 to 50 employees
· Self-employed persons who are not employers. If at least 3 people take out the contract together, provided they both live in the same tariff zone and meet the other SME requirements (at least 3 insured persons).


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An excess is the option to pay for the costs of a period of sickness at your own expense for a certain period of time. This way, you will not receive benefits for sickness periods shorter than the deductible you have chosen and payment will not start until the sickness periods exceed the specified period.

You can choose between the following excess options:
· 7 days
· 15 days
· 30 days
If you choose an excess, the cost of your self-employed insurance will be cheaper.

Sick leave due to a non-work-related event can only be granted after an examination by a Spanish primary care doctor (Seguridad Social). During this examination, the doctor must have established that you are unable to perform the duties of your job due to an illness or accident (e.g. car accident) that has made you unable to work.
In any case, the reasons must not be related to the type of occupational activity carried out by the employee.

Finally, if the doctor determines that you are incapable of work, he or she will also determine the period of time you need to recover until you are discharged and can resume your work.
If the incapacity for work is due to an occupational event, the determination of incapacity for work is the responsibility of the mutual social security institutions.
The insured person has 7 days to notify the sick leave situation and send us the sick leave notification and then its confirmations and any reports.

You will receive your money after the incapacity for work has been lifted. From this point onwards, you will receive the contractually agreed daily rate multiplied by all the days on which you were on sick leave due to incapacity for work. If you need more time for a full recovery, we will give you the necessary advance from the 40th day.


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Company accident insurance is aimed at:
· Commercial companies
· Individual entrepreneurs
· Freelancers
· Associations and organisations
· Collective agreements (Convenio colectivos)

The obligation to take out occupational accident insurance depends on the collective agreement (convenios colectivos) to which the company is subject. For example, collective insurance is compulsory in the construction industry.

This insurance is closely linked to the company’s collective agreement, which defines the insurance cover and compensation in the event of an accident. Accident insurance covers accidents, permanent disability or death of the employee.

Compulsory occupational accident insurance protects all employees included in the company’s TC2 (document in which employees registered with the social security system appear), regardless of how many there were at the time the group policy was taken out.

The cost of tariff accident insurance varies depending on the tariff obligation, industry, insured capital, number of employees and their risk. A worker in an office is not at the same risk as a construction worker. Talk to us.

Bohemia Mallorca always offers unparalleled customer service, even on Sundays by special request. Be it advice on new products, optimisation of existing policies or the settlement of a claim. Bohemia Mallorca is present throughout Spain.

If a worker suffers an accident and the company does not have a compulsory agreement policy, the responsibility would fall on the employer.

The most common accidents in small and medium-sized enterprises are overexertion as well as falls or blows – either against stationary or moving objects (collisions). These occurrences account for 76 % of all accidents that lead to lost working hours.

Other” includes, for example, accidents caused by contact with electric current or hazardous substances, entrapment or spillage, bites or non-traumatic illnesses such as heart attacks.


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The legal defence insurance serves to solve everyday legal problems that worry you and that you do not know how to solve: from defence in labour law, the law of the self-employed, defence in labour inspections to claims for unpaid debts. Legal advice by telephone is at your disposal.
If it is necessary to go to court, a lawyer will represent you in court at no additional cost.

This insurance has a waiting period of 3 months from the date of conclusion, with the exception of the coverage of claims for unpaid fees and invoices, for which the waiting period is 1 month.

The condition for taking out this insurance is that the business activity is carried out in Spain.


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The legal defence insurance serves to solve everyday legal problems that worry you and that you do not know how to solve: from defence in labour law, the law of the self-employed, defence in labour inspections to claims for unpaid debts. Legal advice is offered by telephone.

If it is necessary to go to court, a lawyer will represent you in court at no additional cost.

Movable goods are tangible items or items that can be moved immediately and easily from one place to another. Therefore, the following are considered as such: furniture, machinery, electronic or computer equipment, tools, goods, merchandise and products of professional, self-employed or commercial activity.

This insurance has a waiting period of 3 months from the date of conclusion, with the exception of the coverage of claims for unpaid fees and invoices, for which the waiting period is 1 month.

The condition for taking out this insurance is that the business activity is carried out in Spain.

Bohemia Mallorca attaches great importance to high quality, especially in the selection of insurance products. This way, our customers benefit twice. You can find us in Mallorca, the Balearic Islands and all over Spain.


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The insurance company recommends that this legal expenses insurance should always be paid by the owner of the premises.

This insurance is valid for one year and is automatically renewed if not cancelled in writing.

The advance payment of unpaid rent by the insurance company will be made within 3 months of the first unpaid monthly payment after the commencement of litigation.

If the tenant moves or changes tenants, it is not necessary to cancel the insurance policy that he/she has taken out. In this case, you only need to contact us and make a temporary suspension by signing the cancellation agreement or by showing the new rental contract.
Bohemia Mallorca is now also present in Madrid, Barcelona and Valencia.


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General civil liability is enshrined in the Civil Code: “Whoever, by act or omission, causes damage to another through fault or negligence, is obliged to compensate for the damage caused. Not only for his own acts or omissions, but also for those of the persons for whom he is responsible…”.


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· Locksmiths (locks and bolts only)

· Construction of buildings and urbanisation works

· Construction of main buildings (new construction) and renovation work

· Refurbishment of buildings without affecting structural and/or load•bearing elements

· Interior finishing of buildings: painting, plastering

· Paving, paving, laying of tiles, laying of plasterboards

· Laying parquet or synthetic flooring

· Painters

· Installation of marble, granite, stone in the interior of buildings (kitchens, bathrooms, living rooms)

· Installation of awnings, lattices and pergolas

· Installation, repair and maintenance of bathrooms

· Flooring for warehouses, work in sports and leisure facilities

· Carpentry work in wood, metal or PVC (doors, windows, shutters, grilles, etc.)


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The organisation of events is a complex activity that requires the coordination of numerous factors: venue hire, participant management, supplier contracting and much more. All these factors are common to most events.



In principle, any type of event can be insured.
· Sporting events

· Corporate events

· Cultural and artistic events

· Parties, weddings and banquets

· Congresses

· Associations: Non-professional associations, Municipalities, Yacht clubs and marinas, NGOs

· Entertainment: Film, television and radio studios, Museums, parks and gardens, Cinemas, theatres and concerts, Chiquiparks

· Education: Driving schools, Summer camps, Training centres, Schools and nurseries

· Temporary events: Three Wise Men parades, Concerts and parades, Congresses, fairs and exhibitions, Easter processions


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· Professional Liability

· Liability for the exercise of business activities

· Employer’s liability

· Breach of the Personal Data Protection Act (LOPD)

· Embezzlement of employee funds

· Tenants’ liability

· Damage to files and documents

· Libel or Slander

· Food contamination

· Liability Radioactive installations

· Accidental contamination

· Extended legal defence

· Legal protection and guarantees

· Professional prohibition

· Compensation after termination of the employment relationship

· Retroactivity

These areas of risk make it advisable for the owners and managers of these facilities to protect their assets and those of the facility itself against claims.

Liability insurance for inpatient facilities is a policy designed specifically for inpatient facilities. Not only do they have specific coverage adapted to their characteristics, but they also have the protection of a company with extensive experience and recognised reputation in the field of civil liability at an international level.

· Food poisoning

· Inmates of a facility can be affected by an outbreak of salmonellosis

· The facility receives claims for compensation and has to pay for the treatment of affected patients

· Damage to records

· Accidental deletion of patient records at a hospital

· Accident

· An occupant of the facility suffers an accident when he slips on the freshly mopped floor due to poor signage

· Penalty or fine

· LOPD (Data protection) sanction

This insurance is aimed at hospitals and health centres with surgical procedures and hospital stays.

Inpatient facilities are companies that are highly exposed to the risk of personal injury to clients and employees. Due to the nature of their products and technologies, they can cause very serious damage, the claims of which can even threaten the assets of the facility and its managers.

· Dental clinics

· Diagnostic and imaging centres

· Ophthalmology clinics

· Specialised medical clinics without surgery

· Clinical analysis laboratories or clinics with outpatient surgery without hospitalisation

· Psychology and speech therapy clinics

· Physiotherapy and rehabilitation clinics


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Business or commercial insurance is designed to guarantee the stability of your professional activity. It protects your premises, furniture, goods, electronic equipment, tools or other professional equipment against various risks. Business and commercial insurance policies usually include a comprehensive set of coverages. In addition, they usually include liability insurance.

Some examples are:
· Bars
· Cafés
· Restaurants
· Hotels
· Hairdressers
· Offices
· Grocery shops
· Shoe shops
· Medical practices
· Car repair shops
· Craft businesses etc.

These policies are very comprehensive and flexible, as they must be adapted to a variety of businesses of different types, sizes and characteristics.

· Inventory insurance

· Building insurance

· Civil liability insurance

· Product liability, as well as for work carried out outside the premises

· Business interruption insurance

· Legal defence insurance for companies

Your profession or business is your project, your dream, your job and your livelihood. Just as you want to protect your home, the same should apply to your business or company. Taking out insurance for your company or SME is essential so that no misfortune can ruin all your efforts.

Multi-risk business/SME insurance covers compensation for damage to your business activity, both indoors and outdoors. As each business and activity is different, our insurance policies are always adapted to the needs of each client.

For all types of businesses, whether in industry and manufacturing or for simple offices or open offices such as a call centre. In addition, it is also for all types of services such as restaurants, bars, cafés, hairdressers, grocery shops, shoe shops, doctors’ surgeries, car repair shops and craft businesses, etc.

Obviously, the contingencies of each business are different. The best insurance is the one that adapts to the real needs of the insured. In the case of business insurance, the recommendation to take it out is even more important, since it is a policy with a basic cover and another package of optional covers, the careful selection of which makes it possible to cover most of the risks associated with the business activity.


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The law stipulates that all companies, whether public or private, must take out compulsory construction insurance to also ensure the protection of workers, goods and materials and the environment.


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Ten-year insurance is compulsory in the following situations:
· For projects with more than one dwelling

· For buildings that require horizontal division because there is more than one dwelling, business premises or garage, etc. per floor, regardless of whether they are to be sold or not.

· That all dwellings are sold within 10 years of completion, even if they are owner-occupied.

For self-builders of single-family dwellings for own use, decentralised insurance is not compulsory but advisable. This is because if the owner decides to sell the house within the first 10 years, this insurance is necessary for registration in the land registry.

Law 38/1999, LOE (Ley Ordenación Edificación), which was published in the BOE in November 1999 and came into force in May 2000, establishes that the promoter of a building is liable for 10 years for damages caused by faults or defects in the construction that directly affect the resistance of the building.

The developer, as long as the apartment/building has not been handed over.

Ideally, ten-year insurance should be taken out before or at the start of construction work so that the risk can be assessed during the execution of the work.

In this way, with the information from the geotechnical study, the project and the information from the OCT (Technical Control Organization), a prior policy is issued until the completion of the works. The ten-year insurance policy is then recalculated using all the information from the OCT and the insurance cover starts from the date of the construction acceptance certificate.

The coverage of the ten-year insurance policy comes into effect when the addendum on the effective date of the guarantee is issued. The effective date of the guarantee corresponds to the date of signature of the building inspection certificate. From this date, its duration is 10 years.

There are additional guarantees, the duration of which varies depending on the company. The duration of the waterproofing coverage is usually 3 years, and some companies issue the supplement on the entry into force of the same only after the observation period of 1 year (which coincides with the client’s responsibility for the completion and execution of the works).

The decentralised insurance covers material damage to the building caused by faults or defects originating in or affecting the foundations and other structural elements. This damage can be caused by hidden faults or defects in the construction that directly affect the stability of the building.

20% or 50% (depending on the insurance company) is paid when the preliminary contract is concluded.

The remainder is payable on completion of the construction work.

If the decentralised insurance is applied for after completion of the works, it is more difficult to find an insurance company that will assume this risk. If a company agrees to take on the risk, premiums can be expected to increase by double or more.

It is also important to know that a decentralised policy must be certified by a notary and that there may be a period of up to one week between payment and receipt of the policy at your home address.

The law does not stipulate this. It depends on the insurance company we want to insure with if they require it or not.

If you are building a house for your own use, or building your own house, you are not obliged to take out a ten-year insurance policy. However, it is highly recommended to avoid having to pay for possible structural damage to the building with your own money and assets.

If you sell a property before ten years have passed since its construction, the notary will require a ten-year insurance policy at the time of the sale to cover and protect the future owners in compliance with the law.

When selling and buying a self-built property, the buyer can “waive” the seller’s ten-year insurance if the seller cannot provide any.

The buyer voluntarily accepts the transfer of the property without the ten-year policy and releases the former owner from the obligation to take out a ten-year policy.

The main task of the OCT is essentially to review the construction project and to control the process of execution of the works. The benefit for the project developer is that it is an element of prevention and leads to a higher quality of construction. The vast majority of insurance companies require the OCT to be in place before the works begin.


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· This builder’s liability insurance covers you for material and personal damages that you may cause to a third party involuntarily, by accident, omission or negligence in the development of your work

· The ownership of the land destined for the urbanisation and the works carried out on it

· Transport, loading and unloading of materials

· Damage to underground or overhead activities, provided that such damage is duly notified to the competent authority

· Acts of architects, engineers and other technicians working in this field

· Damage caused by subcontractors

· Damage to adjacent buildings

· Disposal after demolition

· Contamination

· In addition, legal and extrajudicial defence costs in connection with insured claims are covered

The price of builder’s liability insurance depends on the type of policy taken out, the additional cover included and the capital sums contracted. At Bohemia Mallorca we thoroughly investigate each project and do not offer fixed or approximate premiums. So you always pay according to the risks.

Definitely yes, because during the execution of a construction project there are incidents and damages to third parties that are difficult to avoid. In fact, the subsidiary responsible for damages is always the project promoter, which is why it is important to take out civil liability insurance.

It should also be borne in mind that all persons involved in the works must provide a copy of their insurance and proof of timely payment, as the person who has directly caused the damage is also liable.
Therefore, if all persons involved have insurance, the work will be better covered.

Yes, you must have insurance to respond to damages to third parties that may occur, for example, due to the fall of a billboard.

Lump sum or full payment is due at the time of signing the contract.

Yes, material damage that may be caused to the property rented by the insured is covered.

The question is not when, but whether the work is continuous or one-off. Although there is no legal deadline, it would be important to take out the policy before work begins, bearing in mind that the developer is legally liable for any material or personal damage that a third party may suffer from the moment the land is acquired.

Yes, it is important to minimise the risk and their subsidiary liability.


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Due to the complexity of the construction activity, this civil liability insurance has a very broad coverage.

Among the most important are:
· Damage caused to third parties by the use of construction machinery. This insurance coverage also includes the assembly and disassembly activities of the mentioned machines

· The transport of materials, as well as their loading and unloading

· Assembly and disassembly of roofs and sealing of facades and roofs

· Demolition and demolition work

· Cutting and welding

· Damage to adjacent buildings

· Accidental pollution

· Defence against third party claims

· Protects the builder against personal injuries suffered by his workers during the execution of the works

· Insures subcontractors for damage to third parties caused by them during their work

· Re-doing the work Covers damage after the contractor has completed his work

· Covers damage you may cause as a tenant in a property rented for an activity.


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Cybercriminals know that large companies are the ones that allocate the most resources to the security of their systems, so they focus their attacks on SMEs.
Nowadays, almost all companies depend on computer systems for their daily operations; therefore, this cyber insurance is aimed at all types of companies. From SMEs to large companies or organisations.

The main covers of the cyber-attack protection policy are:
· Compensation to third parties
· Compensation for loss of income
· Defence costs
· System restoration
· Legal advice
· Data recovery
· Public relations, reputation crisis management
· Computer forensics

Extortion:
To regain access to your system and/or data, you have to pay.

Business interruption:
Systems and programs are locked down.

Data theft or loss:
Customer and employee data is deleted or stolen.

Economic loss:
Economic damage from an attack can ruin a company.

Investment after the attack:
The expenses you will incur after the attack will affect your finances.

Loss of confidence:
Business failures and loss of customer data damage your image and trust in you.

System failure:
Inaccessibility or compromise of the computer system, preventing its normal operation.

Claims:
Stolen information can lead to fines, penalties and claims from injured parties.


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Basic coverage
· Prevention and Abatement
· Personal injury
· Biodiversity damage
· Cleaning expenses
· Defences and bonds

Optional coverages
· Transport of goods
· Crisis containment / Crisis management
· Compensation for cessation of activity
· CPL (Contractors Caused Environmental Pollution)
· Underground tanks

Environmental liability obliges companies to prevent and remedy environmental damage. According to the Environmental Liability Act 26/2007 of 23.10.2007, operators who cause or are likely to cause damage to natural resources must take the necessary preventive measures. Furthermore, in case of damage, companies are obliged to restore natural resources and ensure that they return to their pre-accident state.

The same law requires the preparation of an environmental risk analysis (ARMA) to determine the need for a financial guarantee and, if necessary, to determine the amount of the guarantee.

This insurance is aimed at companies whose activities cause risks to nature. An established register will tell you whether your company needs the environmental policy or not.

Environmental liability insurance is used to cover damage caused by the companies or subcontractors you have contracted and covers damages or losses of third parties that the insured company is legally obliged to pay as a result of pollution, material damage or repair of damage caused by the company’s activities.

It is unintentional pollution caused by an extraordinary event. In other words, it is not part of the normal functioning of the economic activity.

Damage covered by the policy is:
· Damage to protected natural habitats and species.
· Water. This includes ecological damage to sea water up to 200 miles from the coast.
· Damage to the coastline
· Soil contamination

Environmental liability insurance covers the costs of remediation of natural resources and damage to third parties due to environmental pollution.

In principle, all professionals or natural and legal persons who carry out an economic activity that may cause risks to nature are subject to this liability.


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· Professional Liability

· Liability for the exercise of business activity

· Employer’s liability

· Computer records

· Breach of the Personal Data Protection Act (LOPD)

· Advertising expenses

· Embezzlement of employee funds

· Tenants’ liability

· Damage to documents

· Intellectual Property

· Libel or Slander

· Professional prohibition

· Compensation after termination of the employment relationship

· Retroactivity

It is the obligation to compensate for damages caused to third parties in the exercise of a professional activity.

No. Damages, and therefore claims, do not only affect self-employed persons, but also employees of companies.

Certainly, your professional association’s policy does its job very well. However, as a group insurance policy, the limits and lump sums may not cover all possible claims you could face. Sometimes these policies even limit the total amount the insurer will pay to the number of claims they handle. If your claim comes in after this limit has been exceeded, you may no longer be protected.

Professional indemnity insurance protects the insured against claims for damages caused in the course of their professional activity.

The D&O policy protects you against claims for damages arising in connection with your position as an officer or director in the company.

Do you have any questions? Bohemia Mallorca always offers unparalleled customer service, even on Sundays by special request. Be it advice on new products, optimisation of existing policies or the settlement of a claim.


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D&O insurance is aimed at the company’s administrators and directors, i.e. any natural person who has been or is going to be appointed as an administrator, member of the board of directors, general manager, managing director, managing director, manager or member of the management committee or in a similar position that performs management and direction functions.

Directors’ and officers’ insurance protects the company’s own assets and those of the company against unforeseen events in the course of business and provides security against management claims. Moreover, the risks of corporate governance today no longer affect only large companies, but increasingly also small and medium-sized companies, and the number of claims is constantly increasing.

This insurance can cover claims and claims of various kinds, such as:

· Claims from creditors and suppliers for non-payment or breach of commercial contracts.

· Claims from employees for dismissal, breach of contract, harassment, bullying, etc.

· Claims from competitors for unfair competition, espionage, etc.

· Claims from partners and shareholders for mismanagement.

· Complaints from public bodies for non-compliance with regulations.

· Claims from customers for non-compliance.

It is important to be prepared for any of these situations.

The most common risks arise from wrongful conduct in the performance of their duties. Directors, administrators or managers can be prosecuted in four different civil actions:

· Individual action for contractual liability
· Joint action
· Civil liability for corporate debts
· Liability for the company’s insolvency proceedings.

In addition, there is often a cost of bail for directors and officers in court proceedings in which they are required to post a bond.

The claims made principle defines the point in time at which an insured event occurs.

It is essential that the claim is made within the insurance period.
The claims made principle

also integrates previously caused economic losses into the insurance cover (retroactive cover).

The company is the insurer (policyholder) and the manager is the insured.
Interestingly, not only the policyholder (contracting party) but also the company itself can claim against the manager for financial losses caused by the management of the insured.

It is not necessary to identify the insured parties, as the policy offers coverage to natural persons who have been, are or will be directors, executives, managers or similar positions that exercise functions that imply the exercise of powers of administration and management.

Therefore, it is not necessary to specify names or positions; however, in some cases and for newly created positions, it is advisable to specify this position or responsibility in the policy.

There is no limit on the number of persons or positions insured by the policy, as it extends its coverage to all persons with administrative or managerial positions in the company, with no restrictions as to the number or title they hold.

The cost of directors’ and officers’ liability insurance is accounted for in the books of the company taking out the policy.

No. The payment of the premium by the company is a benefit in kind, but it is not taxable to the insured, who is considered an “employee”, regardless of rank or position, which excludes directors and officers.

The insured is covered for up to four years after the termination of the policyholder’s company, as this is the legal period during which administrators and directors retain the responsibilities derived from their management.


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