UIA Insurance News

Second-home insurance could be crucial

Now could be the best time to invest in a home insurance policy for a new overseas property, if one expert is to be believed.

According to research by the Global Property Guide, house prices have continued to decline in most countries across the world.

That could make it the perfect time to purchase a property in another nation - and a home insurance policy to protect it.

When asked whether the price falls were a worry, Richard Way, editor of A Place in the Sun magazine, said: "No, if you're looking to snap up a holiday home abroad primarily for lifestyle reasons but with an eye on long-term investment. If you can afford to buy now, then grab a bargain while you can."

Britons investing in foreign property may wish to seek the best possible home insurance, as there could be an added risk of problems such as burglary to a home that is not lived in all year round.

Homeoverseas.co.uk recently announced its top tips for places to buy in 2010, with Brazil topping the list, followed by France and America.

By Victor Onuohae

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