Insuring your overseas property

Insuring your overseas property


Buying a property overseas can undoubtedly be a profitable investment, as long as you protect it with adequate cover and remember that you may need a different kind comparison of buy to let landlords insurance quotes than you would for a property in the UK. The majority of the time, it won’t be practical for you to just drop by and take care of any problems that may arise with the property, so your insurance should take into account the extra cost of arranging plumbers, handymen and so on from abroad.

When looking for the best holiday home insurance policy, consider how frequently the property is used. If it is vacant for most of the year, you may have to pay extra for cover because empty properties can make a tempting target for burglars and vandals. On the other hand, if you plan to have the property occupied almost continuously, this could reduce your payments although you should bear in mind the additional wear and tear on the furnishings this will cause.Getting comprehensive insurance cover is usually more straightforward if your overseas property is located within the EU. Local providers may offer better deals, but unless you’re confident in the local language it’s recommended to choose a company that will draw up a policy in English to avoid unexpected surprises.

You might need uk address for insurance

Additionally, some insurers will need you to have a permanent UK address before they will cover you – as this is usually the case, it’s not a problem for most landlords, but people who move around a lot may have to look harder to find a provider that will accommodate them.

The best way to get an insurance policy that suits you is to have a clear idea of exactly how you will be using the property – whether it will serve as a temporary residence for yourself for part of the year or purely as a buy-to-let investment. Using the advice of an expert who is well-versed in the insurance regulations of your chosen country will also be invaluable