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Property investors told to insure household contents
People who own an investment property abroad are being encouraged to take out specialist cover in the event of any accidents.
The British Insurance Brokers Association (Biba) made the recommendation after a study by Zurich Private Clients revealed that a foreign property typically contains about £15,000 of goods.
Research also showed that many of these homes are visited fairly infrequently, with 52 per cent being left unoccupied for at least a month.
Speaking in response to the findings, Biba said it would be a good idea for overseas property owners to make sure they are fully insured.
Spokesperson Graeme Trudgill commented: "You have got a considerable amount of contents there. It is really important to get insurance for it."
He added that some insurance providers offer policies which acknowledge that the property many be unoccupied for a certain length of time.
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