Just as in your home country, it is important not to overlook the importance of insuring the building and contents of your overseas property. How do you choose between local companies and large international firms, all offering policies to suit your needs?
Firstly, it’s important to ascertain what you will be using your overseas property for. Will it be an occasional holiday home or a rental property? The best option is to find a specialist holiday home insurance policy, designed specifically for holiday home use and letting. But if your property is to be used as your permanent residence, a different policy will be necessary.
As with most services, it pays to shop around. Some policies cover you for loss of income should you lose rental income as a result of an incident, and they may provide alternative accommodation should you need to make a claim. Additionally, for buildings insurance incidents, some policies have a quota for flying you back to the property if necessary.
There is a lot to be said for dealing in your own language with well-established, professional insurance companies you can trust. Many UK based overseas property insurance brokers will arrange the correct degree of insurance for your needs, protecting you sufficiently in the event of a claim.
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