Overseas Home Insurance

Frequently Asked Questions…..

Insuring your overseas property can be a little daunting when faced with local regulations, taxation and market practice which can differ greatly from the UK. James Hampden Insurance Brokers and Hiscox have the expertise to ensure your property is properly covered.

Here are a few of the most often raised questions, with answers. If you need more detailed information then simply call our UK sales team on 0044 (0)1332 693200 during office hours and they will be pleased to help.

A specialist insurer in this sector, they have a reputation for providing a wide scope of cover without restrictive conditions. Claims service is first class and Hiscox are one of very few insurers to offer a ‘speed of settlement’ guarantee. They have knowledge of local markets, including taxation, contractual obligations and market practice. This means there are no surprises for you when a claim arises.

Hiscox have an A-(Excellent) rating from A M Best for financial strength and operating performance.

So, who better to cover your cherished investment!

Why insure in the UK when my property is in Spain?

Your Hiscox policy will be written in Plain English so that you can understand what is covered, and what is not! There are minimal ’conditions’ to ensure you enjoy the best protection possible. Your policy can be issued in Sterling or Euro and you will have full back up from our support teams here in the UK.

Can I insure more than one overseas property?

You can indeed, thereby saving on both costs and administration time. Why not include your UK property and take advantage of still more savings?

I reside permanently abroad, is cover available for me?

Yes, we have specific products for both Holiday Homes and Permanent Residences and both buildings and contents covers are available.

How do I pay my premium?

You can pay in Sterling or Euro via any traditional route including debit and credit card. When paying in Sterling from a UK account, an attractive 12 month ‘interest free’ instalment plan is available from Hiscox.

Do I have cover for contents and valuables away from my home?

The standard Holiday Homes policy only provides cover for contents whilst in the property and you will need to ensure you have adequate personal effects cover under your travel insurance. The wider cover provided under a Permanent Residence policy will cover your contents and valuables worldwide.

Can cover be arranged immediately?

Yes, our offices are open from 8.30 am to 5.00 pm (UK Time) and you can contact us by phone fax or email. When your requirements have been established and a quotation offered, cover can be put in force immediately. This is subject, of course, to payment of the premium in full or agreement to pay by ’interest free’ instalments.

We employ a gardener and cleaner, are they covered?

All our policies provide Employers Liability cover to protect you against claims for negligence by employees resulting from bodily injury whilst in your employment.

What happens if I need to make a claim?

Simply pick up the phone and ring our Claims Department to notify the incident. If local assistance is required we will appoint an English-speaking loss adjuster who will work on your behalf to coordinate any remedial action needed. Our ‘speed of settlement’ guarantee ensures that for claims over £2,500 you receive payment directly into your bank account within ten working days of our having received your signed form of acceptance.

What about if we need to be present on site after a claim and have to travel especially?

No Problem, we will pay up to £1,000 towards your travel expenses.

Is theft cover in force when my property is left unoccupied?

Yes, provided violence or force has been used to enter or leave the premises.

Why do I need to insure the building of my property again when it is already insured under the communities ‘block’ policy?

To avoid a gap in your cover we recommend that the building sum insured include at least the total cost of redecoration and the total cost of any improvements (bathrooms, kitchens, flooring, air conditioning, etc.). This is because the level of cover provided by the managing agents' buildings policies vary widely and often falls short of what one would expect from a UK policy.

My present Insurer stipulates that ‘5 lever locks’ are fitted to my property and I do not believe that these are available abroad. Would this affect a theft claim?

It may well affect a claim with your current insurer, but the Hiscox policy stipulates only ‘locks’ for this very reason. There is no requirement as to the number of levers in the lock itself.

How much shall I insure for?

If you have to insure the building itself, then you must consider the full cost of rebuilding and take into account swimming pools, outbuildings, walls etc. You will also need to allow for professional fees incurred in rebuilding together with the cost of clearing the site. As far a contents and personal property are concerned you need to estimate the cost of replacing your contents ‘as new’.

Does full cover apply when my property remains unoccupied?

Cover does apply but if the unoccupany is going to be more than 30 days then read your policy documentation carefully to ensure you comply with any specific unoccupancy requirements such the need to shut off the water supply at the mains etc. Loss of metered water is however excluded whilst the premises are unoccupied for a period of more than 30 days.

Will I have ‘Accidental Damage’ cover?

You will have the option to extend your policy to cover accidental damage to buildings and contents.

What if I need to cancel my policy?

You may cancel your policy up to 14 days from the start of the contract and you will receive a full refund of premium .Otherwise you can cancel at anytime in writing and if no claim has been made we will refund any premium for the period of insurance left. We will not however return any premium if the amount is less than £25.

Remember, the above are an example of typical questions and answers and you should always read your policy and other documentation carefully to ensure it meets with your requirements. All specimen documents are available on request.

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