Do you need homeowners insurance in Portugal in 2026?

Article 1429 of the Civil Code makes fire insurance compulsory for autonomous fractions and common parts in propriedade horizontal. The administrator can place cover and recover premiums if owners fail to insure. Beyond that minimum, the Autoridade de Supervisão de Seguros e Fundos de Pensões (ASF) explains that multirriscos habitação is the usual broader product: building damage from storms, floods, electrical faults, theft, and optional liability.

If you take a Portuguese home loan, the bank almost always requires a multirriscos buildings section sized to reconstruction cost, not market listing price: Foreigner mortgage. You may still choose the insurer within the bank’s acceptance rules. Closing taxes remain separate: Property purchase costs.

Ask the administrator for the current building policy schedule before you buy or move in: Condominium fees. Some blocks insure only common parts; others include each fraction’s structure. Either way, furniture, laptops, clothes, and appliances sit in recheio (contents) cover that you usually buy yourself. Coastal Lisbon and Porto exposure to wind-driven rain makes water-damage and storm clauses worth reading carefully: Living in Lisbon and Living in Porto.

Pay premiums from a Portuguese euro account once ownership settles: Open a bank account. Foreign owners still need the same building cover once title is theirs: Can foreigners buy property. Keep the ASF consumer notes handy when comparing excesses and claim timelines; ASF Recommendation 2/2025 sets expected insurer response windows for multirriscos claims.

Update the insured capital when you renovate kitchens or glass façades. Holiday absences and rented-out periods can change policy conditions, so tell the insurer before you leave a Lisbon or Porto flat empty for months or host paying guests.