Home insurance in Portugal is compulsory for owners but not for tenants. The insurance premium depends on many factors and choosing the right home insurance for what you want to cover in your name. Comprehensive insurance is not compulsory but the owner of a property in Portugal is obliged to take out at least a fire insurance policy that covers the walls of a house or apartment. It will then be up to you to decide whether or not you also want to cover the inside of your home.
Home insurance in Portugal: English-speaking support
If you own an apartment or house in Portugal, then you will need to take out at least a home fire insurance. Finding the right home insurance, comparing different offers or getting in touch with insurers in Portugal is not easy if you don’t speak the language. If you speak English, then you will be able to talk to insurers over the phone, but it will always be complicated to understand the contracts and their differences.
I suggest you to be accompanied by an English-speaking broker specialized in insurances in Portugal. He will be able to discuss your project with you and scan the different offers on the market to find the home insurance that best suits your needs. To do this, simply use the button below and fill in the associated form for a first contact.
Cost of home insurance in Portugal
Home insurance in Portugal is very accessible if you only want minimal fire protection. But even this minimum insurance will have a cost that will vary according to different elements that characterize the house you own :
- Is it your primary or secondary residence?
- In which city in Portugal is your home located?
- What is its surface area?
- What is its value?
- What is the value of the contents to be insured?
- Are you a tenant or owner
These are all questions that the insurer will have to answer in order to define the price of your home insurance in Portugal. It is therefore a cost that is variable and specific to the situation and the good of each insured.
Renters and home insurance in Portugal
As a tenant and unlike landlords, you are not required to take out home insurance in Portugal. However, it is your duty to make sure that your landlord has taken out fire insurance for the property you occupy. This is the minimum insurance covering only the walls in case of fire.
Even if you are not obliged to do so, home insurance in Portugal as a landlord would allow you to guarantee peace of mind against various things for which you are in no way insured if you have not personally taken out any insurance:
Insurance of your property
Insurance for damage you may cause in your home
Insurance of your civil liability
It is therefore strongly recommended even as a tenant to take out Portuguese home insurance to protect yourself against any problems that may arise with your landlord or neighbours.
Please be aware that my English-speaking collaborator specialized in insurance in Portugal only offers home insurance that covers the civil liability of the occupants of the dwelling. This civil liability covers all members of your family and physical or material damage caused to third parties. A way to be serene and to avoid all possible problems related to your home such as burglary, fire or water damage..
Multi-risk home insurance in Portugal
A multi-risk insurance policy generally includes a set of predetermined coverages. It is also possible to add additional coverages that will of course influence the cost of your insurance.
- Multi-risk home insurance provides a wide range of coverage, including :
- Repairing damage to buildings caused by factors other than fire (floods, storms and electrical hazards)
- The protection of the movable property of the dwelling, by providing for the repair of damage caused to it
- An indemnity for theft
- An indemnity for the death of the insured or his/her spouse as a result of fire, lightning, explosion or theft, when these events occurred in the dwelling.
- Cover for the civil liability of the insured and the persons in his household if it is necessary to compensate third parties for the damage caused.
Note that banks generally require multi-risk insurance if you plan to use a home loan to buy a house and that you must include earthquake coverage.
Criteria for choosing home insurance in Portugal
Evaluate your needs
If you want to buy home insurance, you first need to ask yourself what you want to protect.
- Do you simply want to include the walls or do you want to extend your insurance to your furniture?
- Is it essential to have earthquake protection? (In Lisbon the risk is higher)
An analysis should always be made according to your specific situation: flood cover in your home insurance may be important for a ground floor apartment in Madeira, much less for a 3rd floor apartment in the hills of Lisbon.
Although comprehensive insurance already includes some basic guarantees, you can always adapt and adjust it to your specific needs by adding additional guarantees that an English-speaking insurance broker will be able to advise you on.
Define your budget
Il est important de décider à l’avance combien vous voulez dépenser pour votre assurance habitation au Portugal afin de bien gérer vos finances personnelles et de comprendre à quel point vous êtes prêt à souscrire certaines protections. Veuillez noter que plus la couverture est complète, plus le montant de l’assurance sera bien entendu élevée.
Property to be insured
The valuation of the insured capital for walls is calculated on the basis of the surface area of the building multiplied by the reconstruction value per m2 of the residential area.
The value of the land is not taken into account and therefore the reconstruction value will always be much lower than the overall value of your property if it is a house. The proximity of the dwelling to be insured to public transport, shopping areas, sun exposure and other points of evaluation of the value of a property are not taken into account for home insurance in Portugal.
The contents of your home
There is no formula to calculate the value of the contents of your home. In this case, you need to know what you have in your home. This assessment should ensure that the value of the insurance in Portugal is sufficient to replace all the goods you have in your home such as furniture, appliances, clothing and other possessions. Of course, it is ideal to have all the bills, but this is rarely the case.
If you have special items such as jewellery, paintings, tapestries, antiques, these should be individually valued in the home insurance policy. Otherwise, the insurer will generally only pay up to 1,500 euros per item, even if the value is higher.
Obligations of the insured in Portugal
There are obligations that the insured must meet in the event of a claim. The Insurer is obliged to report the claim in writing to the Insurer as soon as possible, explaining :
- How it occurred
- What are the causes and consequences
- This report must never exceed eight days from the date the insured became aware of the event.
The insured person must, as far as possible, take the measures in his power to prevent or limit the consequences of the accident and to provide the insurer, on request, with all information relating to the accident and its consequences.
If the insured person does not comply with all the safety rules imposed by law, legal regulations and the terms of the contract, the cover and the amount of compensation may change.
Insurer’s obligations in Portugal
The insurer also has obligations in the event of an accident and must act with diligence.
It is the responsibility of the insurer in Portugal :
- To investigate the accident
- Assessing and resolving the damage as soon as the investigation and damage assessment is completed
If he does not do so within the stipulated period of 30 days, he may pay interest on the amount of compensation.
English-speaking home insurance broker Portugal
By validating the contact form, you authorize me to forward your request to an English-speaking insurance broker who will be able to contact you directly. Nothing is automated: they are people I know, based in Lisbon and who are qualified to accompany you in your approach & your project.
Insurance in Portugal
You will find below all the insurances in Portugal for which you can call upon my specialized partner broker:
- Health insurance Portugal
- Motorcycle insurance Portugal
- Life insurance Portugal
- Dental insurance Portugal
- Car insurance Portugal
- Boat insurance Portugal