Insurance News Archive
Investors not insuring homes abroad
One in ten overseas property investors do not have home insurance, according to research by Zurich.
However, the Association of British Insurers (ABI) has said finding cover for properties abroad should be no more difficult than securing it for houses in the UK.
Malcolm Tarling from the ABI advised overseas property investors to seek out specialist insurers.
Commenting on the cost of insuring property abroad, Mr Tarling stated how much you would end up shelling out would depend very much on location.
He stated: "If it's part of a guarded complex, I should imagine it's going to be cheaper than if it's on the middle of a dusty hill-top in the middle of a Greek island."
The research by Zurich also revealed that 52 per cent of overseas properties owned by Brits are left completely unoccupied for a month or more at a time.
It also found that overseas investors have an average of £15,200 of contents in their properties abroad.
07 Jul 2008
