You have the right to choose who manages your insurance
Many policyholders assume that once they take out a policy — home, motor, health or life — they are permanently tied to the bank branch or tied agent that sold it to them. In reality, European and Spanish insurance distribution law (set out in Spain in Real Decreto-ley 3/2020) explicitly protects the customer's freedom of choice.
In practice, this means you have the legal right to transfer the management of almost any of your active policies to an independent insurance broker — without cancelling the contract, changing your cover, or paying a single euro extra.
What does changing intermediary actually involve?
It is essential to distinguish between changing your insurer and changing your intermediary:
- Your policy stays the same: the insurance company (Allianz, Mapfre, Generali, etc.), the cover you hold, the renewal dates and the price of your premium all remain exactly as they were.
- What changes is who you deal with: from the transfer onwards, the broker officially represents you before the insurer for any administration, amendment, query or claim.
In short: you keep the insurance you already have, but gain an independent expert defending your interests instead of dealing directly with the company — or the bank that sold you the policy.
The main advantages of placing your policies with a broker
1. Impartiality and independence guaranteed by law
Unlike tied agents or bank employees, who answer to the sales targets of one particular company, an insurance broker is independent by definition. By law, their loyalty lies solely with the client. They assess the market objectively and will actively defend you against the insurer when needed — particularly when you make a claim.
2. Personal, continuous service
Instead of waiting in automated call queues or facing constant staff turnover at bank branches, a brokerage offers direct, personal contact. You have a dedicated account manager who knows your history and your specific needs.
3. Advice in your own language
For international residents, or anyone who would rather communicate in their mother tongue, the technical language of Spanish insurance contracts can cause serious misunderstandings. A multilingual broker allows you to:
- Understand the small print without ambiguity.
- Report claims and damage with maximum accuracy.
- Remove the language barrier at moments of stress or emergency.
4. Cost optimisation and ongoing review
A broker does more than administer your current policies; they monitor each annual renewal to check whether your premium is still competitive, or whether better alternatives exist on the market with equal or superior cover.
How does the change work?
The procedure is remarkably simple and asks very little of you:
- Signing the letter of appointment: a standard document (in Spain, the carta de nombramiento) by which you formally authorise the new broker to represent you before your insurance companies.
- Notifying the insurer: the new broker submits the request to change intermediary to the insurance company.
- Transfer of management: the insurer assigns the policy to the new broker. The whole process is usually complete within a few working days, with no further calls or paperwork on your part.