Frequently used terms

Liability insurance protects your assets against damage to third parties. Compensation and legal defence for errors, accidents or negligence. Essential for freelancers and companies.

The territorial scope in insurance delimits coverage according to geography. Relevant in travel, car or health insurance. Consult before taking out insurance.

The SINCO file collects the policyholder's claims history over the last 5 years. It allows insurers to calculate the risk and adjust the price according to the claims rate.

Find out about the SDM Agreement with insurance companies for the efficient management of claims in Madrid. Clear and updated information in La Web de Seguros.

The CIDE and ASCIDE agreements streamline the handling of claims between vehicles in Spain. They allow the insurer of the injured party to compensate directly, and then compensate the insurer of the at-fault party.

The insurance excess is the amount that the insured assumes in the event of a claim. It reduces the insurance premium, but also the compensation received, and is applied in car, liability, home and community insurance.

The rule of equity adjusts the indemnity when the data of the insured risk is incorrect. If the premium was lower due to an inaccurate declaration, the insurance pays proportionally less.

The proportional rule reduces the compensation if the sum insured is less than the actual value of the property. It is applied in case of underinsurance, affecting the insured financially after a loss.