Expat Guide for Car Insurance
Third-party insurance (seguro de terceros o de responsabilidad civil obligatoria) is compulsory in Spain and you can face a fine of up to €3,000 if you don´t have it. Third party car insurance will cost around €200 – €300 per year and will ensure that another driver´s car will be repaired if an accident is your fault.
Payouts are capped at:
- € 337,000 per victim in case of personal injury
- € 96,000 per victim In case of property damage
For extra peace of mind (and up to an extra €400 per year) you can buy insurance with all the bells and whistles – full comprehensive insurance coverage (Seguro a todo riesgo).
This will give you all of the usual perks of fully comprehensive insurance (roadside assist, accommodation if you are far from home, minor repairs insurance etc) but will NOT pay out the full value of the car if it is written off. The insurer will only give you a pre-nominated percentage. This is a fraud preventative and, interestingly enough, after this rule was changed there was a drastic decrease in the number of cars mysteriously rolling over.
For English-speaking automotive insurance, try the following:
Car Insurance Spain
The Insurance Centre