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Is it compulsory for a homeowners' association to have insurance?

Insurance in a community of owners is not compulsory, although it is highly recommended. However, it should be noted that in many regions in Spain there are regulations that do require fincas to have, at least, third party or civil liability insurance.


There are cases such as that of the communities of Madrid and Valencia, which establishes that all communities must have insurance for fire and damage to third parties, and that the insurance must cover the common elements of the entire property. In addition, insured properties will have preference in obtaining aid for the maintenance, rehabilitation or conservation of their buildings.


It is always more than advisable to have insurance on the property. If there is one thing that is certain, it is that taking out insurance is highly recommendable as the community will enjoy a series of advantages. Firstly, it is a good way to avoid conflicts between neighbours due to incidents (plumbing, electricity...). There are many neighbours who end up in court because of this, so the direct advantage is that they can minimise these problems as much as possible.

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