Real Estate Insurance Portugal: Your 2026 Expert Guide

Why consider real estate insurance?

If you own property, real estate insurance in Portugal protects your investment against financial losses from fires, natural disasters, tenant injuries, and theft. It preserves your property’s resale value, rental income, and long-term returns.

The insurance system in Portugal is highly regulated. Law 147/2015 oversees insurance companies, while Decree-Law 72/2008 governs insurance contracts. The Autoridade de Supervisão de Seguros e Fundos de Pensões (ASF) supervises insurance and reinsurance companies to ensure consumer protection. The Comissão do Mercado de Valores Mobiliários (CMVM) oversees insurance products that are linked to financial investments.

According to Article 1429 of the Portuguese Civil Code, there is mandatory fire insurance (Seguro de Incêndio) for buildings under the horizontal property regime (condominiums). If you own an apartment in a building with multiple owners, you must have property insurance that covers the apartment itself and common parts of the building, like shared stairs, roof, garage, or elevator.

Types of Property Insurance in Portugal

There are several types of property insurance. Each option can protect different aspects of your property and rental activities. Choosing the best real estate insurance in Portugal depends on whether you own, rent, or invest in property.

Building insurance (Seguro do Edifício)

This form covers the structure of the building. That means the roof, walls, windows, or any other permanent feature, like plumbing or electrical.

In Portugal, mortgage lenders may ask you for building insurance to secure a loan. Besides, it is mandatory if you have a condominium building anywhere in the country. If you want to finance your real estate, check our article about mortgages in Portugal.

Building insurance in Portugal often covers:

• Lighting and fire risk
• Water damage and flooding
• Earthquakes (often optional)
• Hail and storm damage
• Subsidence (in certain policies)
• Vandalism or ill intent

This insurance does not cover furniture, appliances, or personal belongings. For that, you need a separate policy, such as content insurance.

Multi-risk home insurance (Seguro Multirriscos Habitação)

Multi-risk home insurance is the most common form of real estate insurance in Portugal. It protects your home, your belongings, and anyone who might be affected by accidents on your property.

It is also the most popular type of insurance for real estate investors and landlords. It can help you avoid financial risks from water leaks, storms, or damage to a neighbor’s property because of an accident.

A multi-risk home insurance in Portugal can include:

• Fire and lightning
• Storms and hail
• Water damage
• Electrical damage
• Glass breakage
• Civil liability
• Damage to personal belongings (often optional)
• Theft
• Earthquakes (often optional)

Multi-risk home insurance does not automatically cover everything that can go wrong in a property. If you need specific coverage, such as protection from earthquakes or flood damage, you have to add those options to your property insurance plan.

Contents insurance (Seguro de Recheio)

This type of insurance protects the contents of your home, not the building itself. Many homeowners and tenants use it to protect their belongings from being stolen or damaged.

In Portugal, it’s optional to have contents insurance, but you can often find it as part of a full package with multi-risk insurance.

Contents insurance can include:

• Furniture (such as sofas, beds, tables, and wardrobes)
• Appliances (such as fridge, washing machine, and oven)
• Electronics (TVs, laptops, and phones)
• Clothing, shoes, and personal items
• Kitchenware and household goods

However, have in mind that factors like normal wear and tear and poor maintenance are not part of a contents insurance plan. If you have specific items you want to protect, like collectibles or expensive items, you have to ask the insurance provider to include those belongings in the coverage.

Landlord insurance (Seguro do Proprietário)

This type of policy is useful if you are renting out your property in Portugal. You can use it to protect your long-term or short-term rental.

A landlord insurance in Portugal can include:

• Damage to the building caused by storms, fire, water leaks, or vandalism
• Civil liability if a tenant or visitor is injured on the property
• Legal protection, including disputes with tenants
• Loss of income, for example, if your rental property is damaged by something the insurance can cover, but you can’t rent it out while it’s being repaired
• Tenant-caused damage, theft, accidental damage, or earthquakes (often optional)

Note: If you want extensive coverage, you can pair landlord with multi-risk home insurance. This combination protects against both structural damage and financial loss from rental activities.

Tenant’s insurance (Seguro para Inquilinos)

If you are a tenant who is renting property in Portugal, whether long-term or short-term, tenant insurance can protect your interests. You can use it to get liability coverage and keep your personal belongings safe.

Tenant’s insurance can cover:

• Personal belongings (such as furniture, electronics, clothing, and other possessions)
• Civil liability toward the landlord or a third party (for example, water damage to the property or the neighbor’s apartment)
• Theft or burglary of your personal items
• Accidental damage to the rented property (such as spills or minor accidents)

Specialized property insurance in Portugal for unique properties

Some properties have unique risks, which is why they need specialized policies to cover the property and the way you use it. Insurance companies can provide customized insurance policies, such as:

• Condominium insurance: Also called communal building insurance, which is mandatory under Article 1429, covers the building’s structure and common areas, including roofs, stairs, and elevators.
• Holiday home insurance in Portugal: This type of real estate insurance is a great choice for AL (Alojamento Local) properties or non-resident property owners.
• Luxury home insurance: Luxury real estate in Portugal often requires customized insurance policies that match the property’s value, contents, and the owner’s lifestyle. For example, you can use luxury home insurance to cover very expensive items you keep in your home.

How much does real estate insurance cost in Portugal?

The cost of real estate insurance in Portugal varies. Basic coverage for an apartment begins at about €80 per year, while a multi-risk insurance policy can cost about €100 annually for minimal coverage. However, if you want full coverage for a larger, expensive, and fully-furnished property, home insurance in Portugal can cost more than €400 annually.

In Portugal, real estate insurance costs depend on factors, such as:

• Property size
• Property type
• Condition and value of the real estate
• Whether it is a secondary or primary residency (policies are more expensive for real estate left unoccupied for longer periods)
• Risk factors (such as flood-prone areas, forest-fire regions, or access to emergencies)

Wondering what’s the cheapest real estate insurance in Portugal? The table below provides a general estimate of the average premium costs.

Note: Many insurance companies in Portugal have a cost calculator on their website that you can use to add information to help you estimate average costs. A buyer’s agent or a real estate agent in Portugal can introduce you to a local insurance provider that suits your needs or budget.

How to Get Insurance for Portuguese Property

Getting property insurance in Portugal is relatively straightforward, but it requires specific documentation, especially if you are an expat or non-resident. Here is a step-by-step guide on how to navigate the process:

Step 1: Collect the documents

To apply for real estate insurance in Portugal for expats, you will need a NIF (Número de Identificação Fiscal). This is the Portuguese tax number that you can obtain at a local tax office or through a registered tax representative. Check our ultimate guide to learn more about how to get a NIF in Portugal.

The insurance provider may ask for the property’s tax ID card (Caderneta Predial Urbana) or a land registry document. Other necessary documents include a proof of identity or a citizen card, and bank account details.

Step 2: Evaluate your needs

Are you a landlord, business owner, or a tenant? Is your home a luxury villa, a rental, or an apartment?

The best real estate insurance in Portugal is the one that covers your needs based on the property’s value, location, and specific risks. Consider some add-ons if you want to cover garages, pools, outbuildings, gardens, or other elements.

Choose a coverage type based on the structure of the building, the contents it contains, and whether it requires legal liability.

Step 3: Compare local providers

There are two main ways to buy real estate insurance in Portugal:

• Directly from insurers: Wondering what is the best insurance company in Portugal? Major names like Fidelidade, Tranquilidade, Allianz, and Zurich dominate the market. Many now offer English-speaking support and online simulators.
• Banks in Portugal: If you have a mortgage, your bank will offer you their own policy. You are not legally required to take the bank’s insurance. To compare banks, check our article on Banking in Portugal.
• Insurance brokers: If you aren’t fluent in Portuguese, using an English-speaking broker (like C1 Broker or InovExpat) is highly recommended. They compare multiple companies for you and handle the paperwork at no extra cost.

Step 4: Check for exclusions and insurance coverage

Scrutinize every aspect of the house insurance policy. See if it includes any:

• Perils such as earthquakes, hailstorms, coastal erosion, or landslides
• Potential risks, such as tenant misuse
• Limits on high-value products
• Higher deductibles (also called an excess) as part of a claim that you must pay before the insurance company covers the rest

Step 5: File an application

You can purchase real estate insurance in Portugal from a preferred provider, or consult with a professional if you need additional advice.

A buyer’s agent, like Goldcrest, can introduce you to local insurance providers, help you compare prices, and offer real estate advice in Portugal. We have an extensive network of local experts who can simplify the entire process.

What is the difference between home and builder's insurance?

In Portugal, the difference between home insurance and builder’s insurance comes down to whether the property is a finished living space or an active work site.

Home insurance, also known as Seguro Multirriscos Habitação is for properties that are already built and people can live in them. It covers factors like fire risk, water damage, and natural disasters. However, if you start a major renovation and a wall collapses or a worker is injured, a standard home insurance policy will likely reject the claim. Home insurance is best for homeowners, landlords, and anyone who needs a mortgage.

Builder’s or construction insurance, often referred to as Seguro de Obras e Montagem, is a specific, temporary policy you can use for property extension, major remodeling, or construction in Portugal. You can get express versions for small renovations (up to 18 months) or full “all risks” policies for larger projects.

Real Estate Agents and Real Estate Brokers

Interested in buying property in Portugal? You may be wondering whether you should consult with a real estate agent, broker, or buyer’s agent.

A real estate agent is someone who organizes transactions between sellers and buyers. They are licensed to sell a property and to guide clients through the paperwork.

A real estate broker is a real estate agent who pursues additional education to obtain a real estate broker license. A broker can work independently and open up their own brokerage to hire other real estate agents. However, the Portugal real estate market works differently.

Portugal does not recognize a separate broker license. Instead, real estate activity is regulated by IMPIC (Instituto dos Mercados Públicos, do Imobiliário e da Construção). To legally operate, a real estate company must hold an AMI license and maintain mandatory civil liability insurance of at least €150,000.

You also have buyer’s agents, such as Goldcrest, who work solely on behalf of the buyer. This is in contrast to real estate agents, who work on behalf of the seller and receive a higher commission for a higher sale price. A buyer’s agent can find the best places to buy real estate in Portugal and negotiate prices.

Why work with Goldcrest?

Goldcrest is a buyer’s agent with insider knowledge in the Portuguese real estate market. We provide real estate advice, can simplify the buying process, and find properties anywhere in the country. Whether you are interested in property acquisition, market research, or long-term rental property management, we have you covered.

We work exclusively for the buyer, which means we can negotiate prices to match your budget and needs. Contact us today, and we can connect you with local experts, such as insurance providers, tax advisors, real estate lawyers, or local builders.