Overseas Property Insurance
Insure your Property Overseas
Insuring any overseas property is simply paramount and the sheer importance of your policy remains the same whether your second home is used for financial or recreational reward. Essentially, clear and concise cover that’s written in plain English is what you’re looking for and what a lot of people fail to realise, before it’s too late, is that more often than not, special cover that differs from any relating to a UK property may be needed.
Of course, undertaking a policy through a reputable broker is also highly recommended, but still, it’s vital to ensure that your policy accounts for anything and everything where possible. Second properties abroad can, like their insurance policies, differ greatly. Whilst some properties don’t have balconies or exposure to waterways, policies can inappropriately or unnecessarily cover you for such varying aspects just as easily as omitting them. So, what lies beyond the perhaps somewhat familiar ‘new for old’ policy?
Where to begin? Vacant/occupied specifications, pool damage, rental loss, travel & accommodation cover, legal and public liability, accidental damage and asset recovery, the list can go on and on, yet all things ideally need to be taken into consideration. But there’s still more deliberation needed. What about your broker’s service? It’s all very well being covered for anything from lost keys to flooded quays but if your broker can’t be contacted for any reason, well you could be left high and dry.
Ultimately, your insurance policy should be simply stated and set out in a manner that’s easy to understand. It should offer high and extensive cover that’s relevant to you and your property and ideally, come with some form of service guarantee that preferably cuts out the impersonal, broken-English-speaking middleman and allows you to deal directly and confidently with your broker.
For any queries regarding such matters, why not contact us for an obligation-free chat and find out just what David Stanley Redfern Ltd can do to assist with your overseas property insurance needs.
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Property Investment News
Wednesday 14th May 2008
Canary Islands Property Growing in Popularity
In a recent study by Global Edge, using keyword analysis tool word-tracker, to analyse the most popular searches for overseas property by country, the Canary Islands proved one of the biggest shockers, with Tenerife making it into the top-ten…
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Wednesday 14th May 2008
Albania Property Most Popular in 2008 So Far
The David Stanley Redfern Ltd sales team has revealed that Albania is the most popular location with investors in 2008 so far. Surprisingly investors are drawn to the safety of Albania property, based on the fact that EU money, stabilising the country and ensuring the economic growth of late continues on its path to becoming a full member of the EU in 2014, ensure property prices are almost certain to grow considerably over the next 5-10 years…
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Wednesday 14th May 2008
Cambodia Property: Untapped Potential Revealed as Tourism Grows
The Cambodian government has announced plans to re-launch the national airline, which was scrapped with massive losses on 2000. This time however the airline is being launched with the backing of massive Indonesian conglomerate Rajawali…
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Tuesday 13th May 2008
David Stanley Redfern Reveal Top Property Hotspots - Part II
This is the second part in a 4 part series that will conclude the release of David Stanley Redfern Ltd research into global property markets. The first two parts revealing the top five destinations for short term investment, and the next 2 parts revealing the top five destinations for long term investment…
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Monday 12th May 2008
Philippines Property: Internal Sales Increase as External Fall
According to a Reuters Real Estate report, the number of Philippines properties being bought by Filipinos based in the U.S. and other countries has began to fall because of U.S. economic woes, but development continues to grow, as the shortfall is picked up by increasing sales to Filipino's from within the country…
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Monday 12th May 2008
Thailand Property Investment: The Future is Bright
The Thailand economy got off to a scintillating start, with 1st quarter growth up six percent on the same period last year, and up 5.7% on the last quarter of 2007. After two years of political turmoil culminating in a coup last year, it seems the new government is finally settling in, and has made economic growth its top priority…
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Friday 9th May 2008
Montenegro Property: Europe's Next Big Thing
According to many various reports, Montenegro is shaping up to be the next big thing in European tourism, and property investment. Last month direct flights began between London airports and Montenegro, which immediately made the country more popular with tourists and property investors, and Montenegrins are gearing up to fully capitalise in the increased popularity of the country…
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