Your Home In The Sun

Your Home In The Sun

Your Home In The Sun

SAGA have found that one in ten over fifties have holiday homes abroad that they do not insure, which could leave them considerably out of pocket should anything go wrong. it's great news for over fifty year olds who are financially able to own these holiday retreats, but insurance is key for safety, not to mention peace of mind when you are staying in your other home and leaving it unattended. People who rent out their second home when they are not there also need to recognise the importance of insurance ot protect their belongings when there are tenants in the property. The research also showed that anyone who has their home insurance in pounds could also be at risk due to the weakness of the pound as it currently stands.

Andrew Goodsell, Executive Chairman, Saga Group Ltd, commented: "Holiday homes are often left vacant for periods of time making them especially vulnerable. It is therefore important that people regularly check their level of insurance to ensure that they are protected for the full value of their property and possessions. With Easter fast approaching, many of the two million over 50s who own properties overseas will be thinking about escaping to sunnier climes. However, the average owner only spends one month a year in their properties, meaning for much of the year the properties can lay vacant and vulnerable to burglary and vandalism."

It's best to check the policy wording if you have Homeowner Insurance on your second property, as some do not cover when the property isn't occupied. Some polices will cover you for loss of rent, and some will cover for legal liability but it is best to check the wording before you try to make a claim. If you do not have Home Insurance on your holiday home, whether you rent it out or keep it for family, then it is something you should strongly consider, as it would be very distressing should you suffer from a break in. Make sure that you read the policy wording carefully to ensure that you are fully covered for everything that you require.

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