The two-building residential complex, standing at nine and fourteen floors, was devastated by a fire in Campanar last Thursday. It carried an insurance policy valued at 26,511,540.32 euros for the building itself and an additional 31,266 euros for communal furnishings.
According to the building policy obtained by EFE, the contract for block and residence coverage is signed between the homeowners association and the insurer Mapfre and is valid from February 1 of the previous year through February 1, 2025.
It also notes that the policy includes fire coverage and that the building, completed in 2008 and hosting 139 co-owners, was constructed to a high standard.
It specifies that the living space totals 13,678 square meters, with 11,172 square meters allocated to storage rooms and garages, and 3,793 square meters to commercial premises.
Other covered damages
The remaining coverages listed in the policy address other damages, weather events, electrical and water damage, breakage, special benefits, theft and theft-related benefits, jams, and building assistance. Aesthetic damages are not included.
The policy includes 782,996.18 euros of liability protection, though it does not cover the civil liability of co-owners.
The civil liability for workplace accidents amounts to 69,976.42 euros; liability for pollution stands at 782,996 euros and 5,875.54 euros is allocated for legal defense. It does not include machinery breakdown, garden reconstruction, or garage vehicle losses.
As for employees, the policy does not cover accidents, death, permanent disability, total permanent incapacity, or absolute permanent incapacity. It also excludes severe disability, temporary disability, and medical expenses.
Extraordinary risks
The policy also includes extraordinary risk coverage through the Consorcio de Compensación de Seguros.
In the civil liability coverage, a sub-limit of 69,976.42 euros per victim applies to claims arising from workplace accidents that fall under the policy terms.
The per-victim sub-limit represents the maximum compensation the insurer will pay to any individual affected by injuries, illness, or death, with the overall per-sinistro limit defined by the insured sum for civil liability in the policy’s specific conditions.
Premiums of 15,000 euros
The net premium for the policy is 15,208.78 euros, with a total of 18,700.87 euros including all charges, while the legal defense coverage premium is set at 443.35 euros.
These figures reflect the policy’s overall cost structure for building and related protections, as disclosed in the contract details reviewed by the press.