Home Insurance for overseas property
Whether you’re planning on a permanent move overseas or using the property as an investment or holiday home you will need buildings and contents insurance. However, the type of policy you will need will be dependent on how you intend to use the property.
Typically, standard home insurance is not appropriate for overseas holiday homes as they will not usually cover property which is unoccupied for longer periods of time or if the home owner doesn’t live at the property. So, it’s important to make sure that your insurance is fit for purpose. Find out more about holiday home insurance.
If you have an overseas mortgage, buildings insurance is mandatory and for many countries in Europe (including Italy, Spain, France and Portugal) often mortgage lenders insist that you have valid life insurance as well.
If you intend to rent the property out at all either on a short-term or long-term basis you will require holiday let insurance to protect you, your property and any holidaymakers who rent it out in the event of any accidents or damage. Some policies will also cover you for loss of rental income, so it’s worth doing your research and finding the best option for you. If you plan to use a platform like Airbnb or similar, it’s worth asking whether a standard holiday home/let insurance or an Airbnb Host policy would be more suitable. Find out more about why holiday let insurance is necessary.
You should consider your insurance provider carefully and think about what will happen if/when you need to make a claim. If you don’t speak, read or write the language that the property is based in the likelihood is that making a claim will be complicated at best and unsuccessful at worst. So, choosing a provider based in the UK that covers foreign properties might be the better option. That way, when it comes to the discussing the finer detail the documentation will in be your own language and you’ll have an English-speaking advisor on hand to assist.
You can get a no-obligation quote for a property whether you have already purchased it or not using the following links:
For more information about home insurance for your overseas property you can use the relevant links above. Or if you’d like to speak to someone, call us on 01244 478 911 or email firstname.lastname@example.org.
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Article published: July 18, 2019