Consorcio – A Learning Curve
Although many of you may not realize it, a small percentage of your insurance premium, being it for a house or car policy (Spanish plated vehicles only) is attributed to the “Consorcio”. This is a government supported public body set up to cover “extraordinary” events. Basically, it is the insurance company’s insurance!
Following the torrential rain storms that we witnessed during the few days before Christmas, we have been inundated with flood related claims ranging from a flooded storeroom to the loss of the whole ground floor of a property!
The insurance companies have decided that due to the intensity of the rains, it can be classed as an “extraordinary” event and all claims are being referred to the Consorcio.
Many clients have been asking “what do we do now?” and the simple answer is “we’re not sure!” You see, in three years of trading we have never had a claim referred to the Consorcio so it’s very much a learning curve for us too!
The form - which is normally given to the client after the loss adjuster {perito} has visited the property – is simple enough to fill in, very much like a normal claim form except that it is all in Spanish and suggests that it should be completed in Spanish which brings it’s own problems for the non Spanish speakers amongst us. How do you say flooded? “Mucho agua” maybe?!!!
Once completed the form is faxed to the Consorcio main office in Malaga ………and then we start playing the waiting game.
Now, will they just accept the claims and pay up or will each claim drag on for
Months’ while they investigate every aspect of the claim?
Hopefully for everyone’s sake it will be the first option but we’ll just have to wait and see…… We’ll keep you posted.
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