One of the consequences of our lengthy membership of the EU is the number of Britons who now own holiday homes in our partner (for now) countries.
Before the referendum, Expats Radio reported that 2.2 million Brits live within the EU, outside of the UK, with a further 1 million owning a holiday home.
Despite reports that more of us are selling up to take advantage of the exchange rates, these seem to be currency speculators rather than people who have put their heart into finding their dream holiday home. Few of us, it seems, think that Brexit will mean giving up on the dream we worked do hard for– so it’s business as usual when it comes to maintenance and all-important insurance.
As holiday homes are generally unoccupied more often than primary homes, it’s important that you have specialist cover that protects your property against damages when it is empty. You will also want to check that any policy provides:
- Cover for long or short term lets if you plan to rent out the property
- Emergency travel cover should you need to get to or form the place
- Temporary accommodation cover
- Public liability cover of up to £5 million included as standard
- Protection for swimming pools
- A provider you can trust
Perhaps the most important thing to look for is a UK-based, English speaking team who are ready to assist with any queries you may have and advise in an emergency. Overseas brokers might not offer claims support, leaving you to deal direct with insurers. Even worse for you, the policy may not be written in English, so you are very likely to miss key points, no matter how fluent you have become in the local language.
Intasure, another Gallagher company, specialises in second and overseas home insurance. You can contact them direct or call us and we will be happy to arrange for them to call you back.
The sole purpose of this article is to provide guidance on the issues covered. This article is not intended to give legal advice, and, accordingly, it should not be relied upon. It should not be regarded as a comprehensive statement of the law and/or market practice in this area. We make no claims as to the completeness or accuracy of the information contained herein or in the links which were live at the date of publication. You should not act upon (or should refrain from acting upon) information in this publication without first seeking specific legal and/or specialist advice. Arthur J. Gallagher Insurance Brokers Limited trading as Deacon accepts no liability for any inaccuracy, omission or mistake in this publication, nor will we be responsible for any loss which may be suffered as a result of any person relying on the information contained herein.