Article Sphere Logo

How To Protect Your Second Home With No Nasty Suprises

By Expert Author: Kaushik Mukherjee | Article Abstract
Word Count: 366 words | Views: 198 view(s)
If you are fortunate to own a holiday or second home, either in the UK or abroad, you will want to ensure that your investment is properly protected.

There are many companies that will offer a stand alone product to provide insurance for such an asset but frequently they have restricted cover due to the nature of the risk not being your normal place of residence or that it is occasionally let.

For example, the cover may be offered on an “insured perils basis” meaning that there will be a defined list of causes that are covered in the event of a loss such as fire, storm, lightning, etc. Also, there may be conditions or restrictions applying when the property is unoccupied. A “specialist” policy that I saw recently imposed conditions if the property was unoccupied for more than seven days - not ideal if you are not a frequent visitor to your holiday home.

The High Net Worth insurers generally have a much more relaxed stand point. They will often give you the same contract of insurance that applies to your main residence and, in most cases, the same breadth of cover. In essence, this means it is possible to obtain worldwide all risks cover, including accidental damage, on your second home.

Also, the High Net Worth insurers will consider the property “unoccupied” after 60 days, provided it is furnished for normal habitation. So, if you or someone else visits the home every two months, normal cover remains in force.

If you allow friends or family to use the home, or even if you occasionally let it out, it is imperative that you have sufficient Public Liability cover, should someone injure themselves whilst at the property and you are found negligent. The standard cover in the market is £1 million but by having High Net Worth insurance, the cover is likely to be £5 million.

There is one condition – the insurer will expect to cover both your main residence and your holiday or second home as a package, though waiting for the appropriate renewal date is usually acceptable. But considering you would be free to move your possessions between properties as you fit, it is perhaps not a significant hardship.
Kaushik Mukherjee

About the Author/Author Bio

Dovetail – The High Net Worth Property Insurance Specialists Service. To know more about us Click Home Holiday Insurance. For further details of our service Click Home Holiday Insurance

Article Source: http://www.articlesphere.com/Article/How-To-Protect-Your-Second-Home-With-No-Nasty-Suprises/167866

Article Submitted: 2008-11-21 | This Article has been viewed 198 times.

Rate Article

Related Videos

How to Save on Home Insurance
Long-Term Care Insurance
Insurance Tips: Homeowners Insurance Policies
Should a Stay at Home Parent Get Life Insurance
Apartment Home Living on Renters Insurance
 

More "Home Insurance" Related Articles

 
 

Listed below are more articles related to the above article from the "Home Insurance" article category.

People interested in the above article "How To Protect Your Second Home With No Nasty Suprises" are also interested in the related articles listed below:

 
Insurance companies do not always give you the best quotes. Also, it is not so easy to go on foot and get quotes from all the insurance companies around you. This is especially true when one is living in California. There must be thousands of insurance companies out there that are giving out more or less slightly different quotes.
Due to the recession many people might now choose to rent rather than buy a home. While attempting to save on living costs in this way, it can also be tempting to save money on insurance, but it's important to avoid cutting corners. Follow our guide to insurance for rental properties to ensure your possessions are protected.
When you buy a home you will need some home owner insurance. Every home owner needs to buy home owner insurance. Do you know what to include in this insurance policy? Losing your home without insurance would be disaster. Learn what you need to know about this insurance. Get some tips on what to look for when buy home insurance.
Most of people face at least once in life, a situation in which would be useful to have purchased a home insurance. Natural disasters can happen from one minute to another; theft, or human mistakes such as an out of control fire, can take away in minutes what took many years of work to be obtained.
Your home says a lot about you - your family, your interests, your wealth, your values - all reflected in the place you choose to live. So, by buying home insurance, you’re buying lifestyle insurance, guaranteeing that even if the worst happens, you’ll be able to rebuild your home and your life.
Swinton home insurance has issued ominous warnings to homeowners following the news that the month of March will reveal a distinct un - spring like weather. The company have urged all those concerned to ensure that necessary precautions are made to prevent an unforeseen mishap and an unfortunate claim on the home insurance policy.
The idea is so simple. You pay a premium and the insurance company protects you. Yeh, right! When you go out shopping, you read the labels before you buy, don’t you. Well, the same should be your habit when you’re buying a homeowners insurance policy. The article advises that before you buy any homeowners insurance policy, you read through to see exactly what is included and what is excluded. If something is missing, you should negotiate a separate endorsement to get the cover you need.
 
Article Directory Home All Categories Insurance Home Insurance
 

Can't find what you're looking for? Try Google Search!
 
Copyright © 2005 - by Larry Lim, Singapore - Article Search Engine Directory at ArticleSphere.com™
All Rights Reserved Worldwide. All Trademarks and Servicemarks are the property of the respective owners.

Afrikaans Albanian Arabic Belarusian Bulgarian Catalan Chinese (Simplified) Chinese (Traditional) Croatian Czech Danish German English Estonian Filipino Finnish French Galician Greek Hebrew Hindi Hungarian Icelandic Indonesian Irish Italiano Japanese Korean Latvian Lithuanian Macedonian Malay Maltese Dutch Norwegian Persian Polish Portuguese Romanian Russian Serbian Slovak Slovenian Spanish Swahili Swedish Thai Turkish Ukrainian Vietnamese Welsh Yiddish