Who is Zurich Condominium intended for?

Zurich Condominium Insurance is recommended for condominium managers—whether elected at a homeowners’ meeting or hired professionals—who need to ensure legal and property protection for the building and all unit owners.

It is also well-suited for condominium management companies seeking a standardized and comprehensive solution for their property portfolio.

The insurance covers buildings under a condominium ownership structure, provided that at least 30% of the units are covered by the policy: the higher the participation rate, the more competitive the premium and the broader the collective coverage.

Base Covers

35 types of coverage included as standard, with no deductible, for buildings up to 20 years old.

Among the main safeguards:

Condominium civil liability insurance coverage of up to 100,000 euros
Civil liability coverage for the insured and their household members up to 100,000 euros
Electrical risks up to 5,000 euros without applying the proportional rule
Damage to underground pipes
Coverage against acts of vandalism
Theft or robbery
Restoration of walls, gates, and fences
Loss of income

Supplementary Coverage under the Zurich Condominium Plan

Tailor the policy to the specific needs of your building with 12 optional coverages, including:

Acts of terrorism
Machine breakdown
Personal Accidents Involving the Administrator
Civil liability for pool areas up to 100,000 euros
Civil Liability for Leases
Solar panels
Solar panels
Seismic phenomena
Garden Restoration
Renovation of the building or safe unit
Damage to Employees' Property
Condominium Management Services

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How do I know how much to insure?

Setting the right coverage amount is one of the most common—and most costly—mistakes in condominium insurance.

The insured value is not the market price of the property, but rather the replacement cost: what it would cost to rebuild the building from the ground up, including improvements, elevators, machinery, walls, and fences.

Insuring for an amount less than that has direct consequences in the event of claim: the insurer applies the proportional rule and pays only the percentage of the insured amount.

A condominium valued at 500,000 euros but insured for 250,000 will, in practice, receive half of any compensation.

On our blog, we explain how to calculate this amount based on the annual ordinance published by the state, which lists the costs per square meter by geographic zone.

→ Learn how to calculate the coverage amount for comprehensive insurance

Why choose R2 Seguros?

R2 Seguros is an insurance broker registered with the ASF (Insurance and Pension Funds Supervisory Authority), with experience in the areas of condominiums and housing. When you purchase insurance through R2, you benefit from:

Independent advice: We analyze your situation and recommend the most appropriate solution, with no ties to any insurance company
Support with the hiring process: we handle all the necessary paperwork
claim Assistance: We're here for you from the moment you file a claim until it's resolved
Periodic policy review: We ensure that your coverage keeps pace with your condominium's needs

→ Talk to one of our brokers who specializes in condominium insurance.

Zurich Condominium

Frequently asked questions

Is condominium insurance mandatory in Portugal?

Yes. Law No. 8/2022 strengthened the obligations of condominium management, making it mandatory to purchase comprehensive insurance for the building’s common areas and liability insurance for damages caused to third parties.

Does the insurance cover individual units?

Zurich Condominium Insurance protects common areas and provides mutual liability coverage among unit owners. For individual protection of each unit, we recommend supplemental multi-risk home insurance.

What happens if the condominium doesn't have insurance?

The building management may be held civilly liable for damages caused to third parties or to co-owners, without any coverage to cover the compensation. In buildings with damaged common areas, the repair costs fall entirely on the co-owners.