Archive for Overseas
Posted on 12/08/10, filed under Overseas | No Comments
The devastation that forest fires cause during the summer heatwaves is apparent. Russia has suffered a great loss and fire-fighters in Portugal are continuing to battle forest fires that are sweeping through the country. Infact, July was the worst month for fires in Portugal since 2005, with 5,524 registered across the country.
 Recent reports from Spain also indicate that July 2010 has been the hottest July for the last thirty years and Portugal recorded its hottest July for 79 years. Scorching temperatures, drought and tinder-dry forests all increase the risk of forest fires.
The fact is that many overseas property investors purchase homes in idyllic settings often in the rural countryside surrounded by forests and scrubland… read the rest of “Forest fires threaten holiday homes abroad” >>
Posted on 06/07/10, filed under Overseas | No Comments
For the second time this year France has witnessed devastating flooding. Following the worst flash floods seen in southern France for almost 200 years, torrential rain caused mud to pour through towns and villages in the Var region.
 Floodwaters reached more than six feet in some areas causing substantial damage – holiday home owners are urged to check their properties.
For those insured with French insurers the deadline for homeowners in the Var to declare damage is July 31. Normally French policy terms require claims to be submitted within five to ten days for storm and flood damage.
As we have discussed before, this tight deadline for filing French insurance claims can leave those property owners… read the rest of “French flood insurance claims deadline” >>
Posted on 24/06/10, filed under Overseas | No Comments
If the credit crunch, the ash cloud or BA strikes have affected your overseas holiday home rentals and it now stands empty for longish periods of time, you may wonder whether you you’ll need to make special arrangements for your overseas property insurance.
 You may wonder whether you’ll need special insurance when your property is unoccupied and what your obligations may be as a policyholder (for example, will you need to drain down water systems).
These concerns may be particularly relevant in the current economic climate as the credit crunch may mean that many people are tightening their belts and your property is empty rather more frequently than usual.
Of course, if you are lucky and have… read the rest of “Is your overseas property insured when empty?” >>
Posted on 18/06/10, filed under Overseas | No Comments
The clock is ticking for owners of holiday homes and gites in France to register their property with the local mairie before 1 July 2010 deadline – homeowners could face a fine from €45 to €450 if they fail to do so.
 Following the introduction of a tourism law, which was passed in July last year, anyone who runs a gite or a furnished holiday let in France must make a declaration to the maire in the commune where the property is situated. Also, if you are planning on running a holiday rental, you should register before commencing business.
Complete the two page form – Déclaration en mairie de location d’un meublé de tourisme –… read the rest of “Register your gite or holiday home in France with mairie” >>
Posted on 14/05/10, filed under Overseas | No Comments
If you have apartment insurance in Spain through a community block policy or via a Spanish bank which provides the mortgage, then this insurance is likely to cover the buildings structure against perils, such as fire and flood.
 But what about public liability insurance for your Spanish apartment? Most community insurance and foreign policies don’t cover public liability or provide low levels of third party protection. This can leave holiday apartment owners with a shortfall in liability cover.
Unfortunately, as with most insurance, this shortfall is only exposed when there is a claim and it’s too late.
What does public liability insurance cover?
This insurance protects against third party claims being made… read the rest of “Public liability insurance for an apartment in Spain” >>
Posted on 11/05/10, filed under Overseas | No Comments
If you own a flat in France an apartment in Spain or Portugal then no doubt you will have concerns about who is liable should the apartment above have a water leak, from a washing machine or leaking pipe for example – which causes water damage to your apartment below.
 This is how most holiday apartment insurance companies in the UK would deal with the claim (note: foreign insurers may deal with it differently, which often complicates matters. See below).
Any water damage to your property from the apartment above would have to be claimed for under your insurance policy and you would have to pay any policy excess, which would be deducted from… read the rest of “Water leak from apartment above: who pays?” >>
Posted on 10/03/10, filed under Overseas | 1 Comment
Following the recent storm Xynthia which caused damage estimated at €1bn in France, holiday home owners in the areas recognised as natural disaster zones have been given an extension to submit insurance claims with their French insurer. The deadline is March 31.
In France, normally a five-day limit applies to general storm damage claims – extended to 10 days to declare flood damage to the insurer if the government decrees a state of catastrophe naturelle (natural disaster).
When choosing holiday home insurance in France, owners are often confused whether they should insure with a French based company, or a UK based French insurer.
Stringent claims timescales for submitting claims to French insurers are yet another… read the rest of “French home insurance claims for storm damage” >>
Posted on 01/03/10, filed under Overseas | No Comments
Overseas holiday home owners are urged to check their properties for storm or flood damage following the violent storm “Xynthia” which battered France, Spain and Portugal yesterday – leaving 51 people dead.
 The bulk of the casualties and damage was in France, hitting the Vendee and Charente-Maritime regions in southwestern France the hardest.
Fierce rain and 150mph winds caused rivers to burst their banks and sea walls to collapse, flooding properties and leaving up to a million homes without power. The deadliest storm in a decade.
Prime Minister François Fillon has declared a state of catastrophe naturelle and a ministerial decree to this effect should be published within 48 hours.
Claims experts at Schofields holiday homes… read the rest of “Storms batter holiday homes in Europe” >>
Posted on 23/02/10, filed under Overseas | No Comments
Following the devastating mudslides and floods that swept the Portuguese holiday island of Madeira, holiday home owners are urged to check their property insurance abroad covers flood and storm damage.
Winds in excess of 70mph, hours of torrential rain, streams of water and mud swept through the capital Funchal, destroying homes, cars and felling trees. Adverse weather has also battered other parts of Europe this winter, with parts of Spain and France also being flooded.
 Many owners of overseas property who lock up and leave their homes over winter are often unaware of the extent of the extreme weather that pounds properties in Europe, as they only visit when the sun is shining.
Although these owners… read the rest of “Flood & storm insurance for property abroad” >>
Posted on 27/01/10, filed under Overseas | 1 Comment
Before you choose an insurance policy from a company in France, you should be aware that the practice of cancelling French insurance can be complex compared to the process we are used to in the UK. You can’t let it lapse or cancel at the last minute with a phone call.
Insurance in France automatically renews, so if you are thinking of changing to a UK insurer because of the premium, limitations in cover or simply because you want the policy in English – ensure you cancel your French policy first.
If you don’t follow the correct cancellation procedure you will be liable to pay the years premium, even if you have a new policy… read the rest of “How to cancel French home insurance ” >>
Posted on 09/10/09, filed under Overseas | No Comments
The Association of International Property Professionals –AIPP (the industry body for the international property market) has released the 4th edition of its annual guide, “Buying Overseas Property Safely – The Consumer Guide from the Industry Body”.
 With the amount of contradicting advice out there, combined with horror stories of developers going bust and leaving investors out of pocket, can make buying property abroad a complex process. The guide outlines common pitfalls to avoid and how to buy overseas property safely. It’s a useful guide which potential property buyers should read before they purchase property abroad.
It provides independent and expert advice and covers areas such as:
- 5 pitfalls to avoid
- The role of the agent &
Posted on 01/10/09, filed under Overseas | No Comments
 Following the torrential rain that hit Spain earlier this week, which forced hundreds of people to evacuate their Spanish holiday homes, there are reports that several properties have been flooded.
Torrential rain and storms swept along the whole of Spain’s Mediterranean coast, trapping people, causing power cuts and a forcing a number of rivers to burst their banks.
If you haven’t done so yet, get your holiday home checked by your key holder for any flood damage and inform your Spanish insurance company of any damage.
Update: There are some photos of the flooded Polaris La Torre Golf Resort near Murcia, which show the damage that flood water can cause… read the rest of “Holiday Homes in Spain Flooded” >>
Posted on 18/09/09, filed under Overseas | No Comments
Reading through French house insurance policy details is a task that many property owners skip when taking out a policy, especially when it is written in a foreign language. Not only is there the issue of not understanding what is actually covered, there are also policy conditions and exclusions that could leave you uninsured
 A “burning issue” that many French property owners are unaware of, is the requirement of some French insurance policies that properties have chimneys swept once a year. Homeowners face the risk of being uninsured following a chimney fire, if they can’t prove that chimneys are swept annually.
To avoid being uninsured, it is essential to check if your French insurer has this clause in your policy… read the rest of “French Insurance Chimney Sweeping Clause” >>
Posted on 21/07/09, filed under Overseas | No Comments
Following the blazing forest fires that caused destruction across the Southern Almeria region of Spain last week, overseas property owners are urged to check that they are adequately insured.
 Thankfully, it appears that none of the Spanish property owners who were forced to evacuate their homes suffered losses, but it highlights the destruction that wildfires can cause.
Damage caused by fire can be horrendous and very expensive to repair, often a complete rebuild is required. There are concerns that thousands of second home owners are significantly underinsured, as the ‘estimated’ buildings sum insured does not reflect the accurate cost of rebuilding their property. More worryingly, there are reports that homeowners are lowering… read the rest of “Raging Fires Threaten Overseas Homes” >>
Posted on 21/04/09, filed under Overseas | 5 Comments
Following the tragic events earlier in April when the earthquake hit several towns in central Italy, owners of holiday homes abroad are urged to check that their house insurance covers earthquake damage, as many popular second home locations are prone to natural disasters.
Earthquakes in Spain, France, Italy, Portugal and even the UK, don’t happen as often as they do in say Japan, but they’re becoming more common and the destruction they cause was unfortunately evident in Italy.
In addition to ensuring your overseas property insurance covers rebuilding following earthquakes and catastrophic events, you should pay attention to the earthquake excess. On some European policies the excess deducted from a claim following earthquake damage is a % of the sum insured, often 5%. So if your… read the rest of “Earthquake Insurance - Is Your Holiday Home Covered?” >>
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