# Insurance for apartment?



## grandwazoo (Apr 12, 2011)

We're about to buy an apartment in the Algarve, and I'd appreciate some clues on home insurance. What's the usual route for insuring the apartment itself? Do individuals arrange their own cover, or does the condominium management do something overall? Or is there some other way?


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## Maggy Crawford (Sep 18, 2010)

We arranged our home and contents insurance through our bank, Millennium BCP, which has links with Ocidental. We have always been happy with the service although we have yet to make a claim.


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## siobhanwf (Mar 20, 2009)

worthwhile trying trying Andy at Silvercoast Financials his has proved very helpful in the past.
The bonus is everything is in english


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## grandwazoo (Apr 12, 2011)

Thanks guys. That's helpful, though i was hoping for some info on the basics (like what do I have to insure?) never having owned an apartment before.


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## canoeman (Mar 3, 2011)

Suggest you check with your lawyer or block owner and make certain how and what is covered in the block insurance, generally the policy covers the Building and all the elements that go with that, but you should know exactly what is covered and whether any of the cover extends to certain areas of your apartment, like water leaks or 3rd party accidents. 

You'll need contents insurance regardless, if your not there full time i.e. it's a holiday home then you should check policy, most policies have a max unoccupied clause, if your intend renting as a holiday let then you reguire a specific policy, normal household insurance does not cover, if family and friends use it, and don't pay anything their generally covered.


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## grandwazoo (Apr 12, 2011)

Many thanks, you're a mine of knowledge as usual!!


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## Liesbetje (Aug 12, 2011)

Grandwazoo,


I'm following this thread, since I'm looking into buying something in PT myself. Initially it would be a holiday place, later maybe permanent place to live. I'm specifically looking for information about apartments.
Even if it would be ideal for a place that's not lived in permanently, I haven't looked into buying an apartment yet. Why? I currently own an apartment in Belgium. Every month or so I have a notice from another flat owner in my mailbox: if we can agree on changing this/fixing that/reparing something else/saving more (or less) money to cover communal costs/ ... I can handle that, because I'm around most of the time and I speak the language properly. I get along very well with my neighbors also, which is a plus, obviously.
I wonder if owning in Portugal is similar. Do you also have to pay a (monthly) fee for cleaning and maintenance of stairs/elevater/shared parts/...? Do you have annual owner meetings (or more often)? Do you have one person to look after all those things? In general: is it easy to own an apartment in PT? Is it a lot of work? Is it feasible for somebody who is not there all the time?


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## grandwazoo (Apr 12, 2011)

I'm probably not the best person to ask, since I haven't completed the purchase yet. I suspect the answer will depend on where in Portugal you're thinking of buying; in the Algarve there are tens of thousands of apartments which are second homes for owners from all over Europe, and they obviously find it perfectly feasible.


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