Your guide to getting home insurance abroad

If you own a house outside of the UK, getting home insurance is simply a must.

09:45 01 August 2013

A lot of people, particularly those who are over 50 years old, are buying holiday homes abroad. If you’re one of these people, it is important that you understand the process of buying house insurance for your holiday home.

Basically, the process is the same as in the United Kingdom. However, the main problem that most people encounter is language barrier. As you need to understand everything written in the fine print, this is indeed extremely important.

Don’t hesitate to hire a translator when taking out home insurance abroad. If needed, have this translator explain each line to ensure that you’re getting the kind of coverage that you need to protect you against any unforeseen incident.

An ideal home insurance should offer the following coverage:

• Buildings insurance. This offers the rebuilding cost should your house get knocked down by fire, typhoon, or it gets damaged because of flood. Insure your house based on the amount that you need to rebuild it and not based on its current market price.

 

• Contents insurance. This provides coverage on all the items inside your house. From gadgets to your kitchenware to rugs.

 

• Legal liability. This provides coverage should someone gets hurt while inside your house.