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Own
a property overseas? Is the insurance policy written in English? By
Philip
Suter With
so many English speaking people now having a second home overseas it is vitally
important that the insurance is written in a language you can understand. A
lot of insurance documentation is difficult to comprehend in your own native language
and if it is written in the language of the country your property is in it can
give you a major headache. First
of all you might not know what you are covered for and not covered for. Does your
insurance cover you for a burst pipe between the water supply in the street and
the inside of the property? What about if the home is empty, how many weeks can
it be left unoccupied? Does the insurance company insist that you turn off the
electricity and gas when no one is living there? These
are all very important issues, however if your property is in Italy and your Italian
is not very good, you could have major problems if you need to claim. The
other important issue is of being able to contact the insurance company easily,
again if your language skills are weak you are much better talking to a representative
in your native country. There
are now several UK Insurance companies offering insurance services for holiday
homes, second homes and main residence overseas and back in the UK. Well known
names like Andrew
Copeland, Intasure and Staysure and Rentguard and Letsure in the UK market.
These well known companies all advertise on the www.jml-property-insurance.co.uk
website. What
is very important is that you can normally pay in a currency that suits you. For
example if you in Britain they will accept a payment from your UK bank and you
don't have to venture into overseas account for the annual premium. This is a
great advantage if you are in a situation where you have to transfer funds to
an overseas bank account which is normally an expensive business unless you are
transferring from one Euro based country to another. In
the event of having to make a claim, contacting the English speaking specialist
insurance companies is much easier than in a foreign language situation. Many
of these companies have a 24 hour help line and claim forms can be downloaded
off web sites or emailed to a client at their destination. Most of these companies
will also operate during normal office hours and they don't close for a couple
of hours half way through the day. All
in all if you own a holiday home or second property in a country that does not
share the same language as you do, then it makes sense to buy one in the language
you can understand. So if you are an Irish person with a property in Spain, a
British person with a property in Finland insuring it with an insurance company
that is not based in locally to the property can be a lot easier to understand. N.B.
This information should not be relied on for accuracy and is presented here without
the responsibility of jml Property Service and the website it is being displayed
at. ©jml property Services 02-11
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