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Overseas property insurance: the importance of getting suitable cover
With adverse weather and flooding hitting the most unlikely of places (eg Tenerife had some snow recently and earlier this year the South of France had terrible flooding), ensuring your second home is adequately protected may make sense, says overseas property insurance provider www.holidaypropertycover.com.
Without overseas property insurance to fall back on you might suffer financial worry and even lose your property if the worst case scenario arises and something happens to your second home. So, how do you get suitable cover?
When looking for an insurance policy for your overseas property it is important that you look specifically for holiday home insurance and not just traditional owner-occupier home buildings and contents insurance, as with the latter, it is likely that your cover will be invalid.
Why is a second home insurance policy so important?
The reason why choosing specialist insurance may be so important is that your overseas property typically faces different risks than your own home. For example:
- for part of the year the holiday home usually stands empty, whereas your main property does not. This may make the former more susceptible to things such as theft. Or, something like minor leak, left unattended, could cause extensive damage;
- with a second home, you may have people renting out your holiday home as well as staff to clean the holiday home. With some holiday home insurance policies you may have public liability insurance protection and employers’ liability insurance, protecting you financially if a third party were to make a claim against for an injury caused while in your property.
Of course along with providing protection for events that you may not typically need with standard home and buildings insurance cover, the insurance policy for a holiday home usually provides the same protection as a standard policy. This may include:
- protection for the shell of the building against damage or destruction caused by fire, flood and storm;
- damage to the outside of the property due to vandalism;
- damage or destruction caused by falling objects;
- protection for the contents of the building for damage or destruction caused by fire, flood and accidental damage;
- theft of the contents of the property.
Of course the above usually depends on what your insurance provider offers in their overseas property insurance – it can vary among different holiday home insurance companies – and it is important that you check what the cover entails before you buy holiday home insurance online. Visit www.holidaypropertycover.com for more information or to get a holiday home insurance quote.
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