Community Insurance
Communities
The best insurance for communities
A complete multi-risk insurance for your community
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Community insurance in Mallorca
A community of owners faces various risks on a daily basis that require the availability of urgent and efficient services to handle them properly, which is crucial for the peace of mind of the neighbors. In this sense, Grupo Baeza presents comprehensive and flexible insurance for homeowners’ associations, with an attractive economic proposal. If you are looking for insurance, Grupo Baeza offers a solution through a single policy that allows you to choose between various contracting options, adapting to the needs, characteristics and budget of each community. This multi-risk insurance is designed to protect the assets of both communities and individual owners against the risks to which residential buildings, car parks or commercial premises may be exposed.
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Frequently asked questions
About Community Insurance
Who is the insurance for?
Grupo Baeza’s Community multi-risk insurance is designed for owners of properties mainly intended for housing, covering both common property regimes, such as in communities of owners, and unitary, i.e. the individual property of natural or legal persons. We also offer coverage for mixed buildings that include, in part, commercial premises, offices or parking spaces, as well as for those properties whose exclusive use is private communal parking.
What are the goods that are part of the content?
The assets that make up the contents include those elements of property of the building located in common areas for shared use. This includes furniture, both fixed and mobile, and non-structural counters, as well as mirrors, lamps and decorative objects, provided that their individual value does not exceed 3000 euros.
Tools, utensils, small machinery and materials intended for cleaning, repairing and maintaining the building and its external installations, as well as fire extinguishers, are also considered. In addition, furniture in gardens, patios and terraces is only covered for certain risks, such as fire and theft, when the relevant coverage is contracted. However, privately owned property, objects whose value exceeds 3000 euros, motor vehicles, trailers, caravans and pleasure boats, as well as documents representing economic value, including cash and cheques, are not classified as contents, unless specifically stated in the policy.
How is the valuation assigned?
The valuation of the building should be based on the cost of construction, excluding the value of the land and not based on the sale price in the market. This implies that, in the event of a claim, the building will be valued according to its construction cost or replacement value, excluding the land and market factors such as the price in the area, views and other elements that influence purchase and sale prices. The system provides a recommended capital for the continent based on several factors that are declared in a questionnaire. These factors include the total built area, which comprises the square meters above ground, including outdoor elements such as sports areas and swimming pools, as well as the square meters below ground, such as basements and parking lots, provided that they are insured. In addition, the quality of the construction is considered, which can be simple, medium or high, and the geographical area, which is classified into three areas according to provinces.
What is meant by “gardens”?
The garden is defined as the area that includes trees, plants, and grass that is located in the vicinity of the building. This space must be fenced or fenced for the exclusive use of the owners and members of the community. Places such as forests, scrubland, pastures or other land where tree or plant species that are not cultivated for ornamental purposes predominate are not considered gardens.
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