Guide to Holiday Home Insurance Denmark
Holiday Home
insurance in Denmark - obtaining insurance for your holiday or second home
in Denmark is now available from the United Kingdom and the policy wording will
be written in English and should contain most of the usual perils you would
expect to see under a standard household policy wording. Remember, if you are
intending to let your property to make sure that the insurance company has
extended the policy to include property owners liability insurance. As with
other countries calculating your sum insured should be based on the rebuilding
cost of the property, not on the amount that you have paid for the property. If
you are obtaining a mortgage on your property in Denmark, then you should find
that the lender will provide you with an indication of the amount that you need
to insure for. If this is not the case, you should always seek a professional
opinion. Contents, should be valued on an as new basis and when calculating your
sum insured, it is often easier to go from room to room making notes.
Earthquakes are most unusual in Denmark but a natural hazard that does occur is
flooding and often in some areas of the country that are protected from the sea
by a system of dikes. Flooding occurs along the southern coast of the island of
Lolland, and parts of Jutland.
Why Buy a Holiday Home in Denmark? - located in north-western Europe to the
north of Germany, (which is its only land route in to Europe) Denmark consists
of the Jutland peninsula and the two main islands of Zealand and Funen. There
are also in excess of 400 islands but most of these are uninhabited. Denmark is
not widely known as a country in which there is a great deal of holiday home
ownership by foreign investors, in fact, there are some special restrictions on
foreign ownership in some areas, especially when attempting to buy holiday homes
in the favourable coastal areas. These laws have been specifically drawn up to
prevent coastal property falling in to the hands of foreign investors. In view
of these rulings investors often stick to the capital city of Copenhagen. Prices
here for property are expensive but not as expensive as other European cities.
Recently, a 16 mile tunnel was constructed to connect Denmark with Sweden and
now there is a tend for residents of Copenhagen to move to cheaper areas and
commute to work.
How to Buy a Holiday Home in Denmark? - if you are thinking of buying
property in Denmark, then there are a number of factors to be taken in to
consideration. If you have no residence in Denmark, and have not previously had
residence in Denmark for a total of five years, you will need permission from
the Ministry of Justice to purchase property. This rule applies to both all-year
residence and to property that you intend to use as your holiday home or holiday
let. If you are an EU citizen, you can normally get away with not having the
necessary permit providing of course you intend to live in the house on a
permanent basis and in these cases a signed declaration is simply attached to
the deed. Buying a property for rental purposes, is difficult if you are a non
resident and you will really need good quality legal advise to explain what you
can and cannot do
Once you have located you property, it is normal practice for a survey to be
carried out. In Denmark, the seller will provide you with a building condition
report which will describe the physical condition of the property as well as any
pre existing conditions that may in time lead to new defects. It is interesting
to note, that if there is no property report produced, you can hold the seller
responsible for up to 20 years for any defects or damages. With the exception of
Holiday Homes, the seller also has to provide you with details about the
properties energy expenses.
It is usual for your solicitor to conduct negotiations with the sellers estate
agent and this includes matters relating to agreeing the final price. In
addition to this your solicitor should examine the agreement of sale ( this
document is known as "the skoede"), the survey report and carry out local
authority searches to ensure that everything is in order. As the purchaser of
the property you will usually be liable for half the fees for final contracts,
which are calculated as 0.6 percent of the property value plus €175. Stamp duty
and other costs run to , 0.6 percent to 1.5 percent of the property value. You
legal fees could be up to €1000 depending on the size of the property and the
amount of work you solicitor has to carry out, the seller usually pays the
estate agents fees
So if you are seeking an holiday home insurance quote for a property in
cities like Copenhagen, Bornholm or North Sealand, why not see if we can help?
In addition, Assetsure provide overseas property insurance and holiday home
insurance for other countries including Australia, Austria, Belgium, Bulgaria,
Brazil, Canada, Cape Verde, Chile, Croatia, Cyprus, Czech Republic, Denmark,
Estonia, Finland, France, Germany, Greece, Egypt, Hungary, Iceland,
Ireland, Italy, Latvia, Lithuania, Liechtenstein, Luxembourg, Malta, Monaco,
Montenegro, Morocco, Netherlands, New Zealand, Norway, Poland, Portugal,
Romania, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland,
Thailand, Turkey, United Arab Emirates, United Kingdom (UK) and Venezuela.
