Guide to Holiday Home Insurance Italy
Introduction - AssetSure are
able to offer insurance for an Italy
holiday home. Italy occupies a Peninsula
running southeast into the Mediterranean from the mainland of Europe. Its shape
is familiar to most people, the sale of holiday homes and property is not so
wide spread in Italy and it could be said that property here appeals to a more
discerning investor. Ownership of Holiday home property in Italy has
quietly been fashionable for many years. Although not as popular with the Brits
as France & Spain, there is still plenty of property available and people "
escape" to the wonderful Italian countryside for the sheer beauty of its rolling
hills & peace and quiet. If you get bored, according to UNESCO, Italy hosts
about 50% of the known cultural heritages of the entire globe so you shouldn't
run out of places to visit and things to see. Like most places in Europe, Italy
has seen an upsurge in property prices in particular from overseas investors
wanting to buy holiday homes. The major resort areas remain the hotspots but
country property has it supporters as well.
Building Insurance Risks to Italian Holiday Homes - although not known for
an abundance of natural disasters Italy has been known to suffer from the
occasional severe bout of flooding (especially in the north) and the odd bush
fire (mainly in the south). Perhaps of bigger concern to homeowners is the peril
of earthquake and Italy does have a much documented history in this respect of
this. In fact Italy seems to have cornered the market with earthquake
information records and there are more than 400 damaging events documented
during the last 2,000 years. Most of the earthquakes occurring in Italy are
generated by motion along the boundaries of microplates in the Eurasian-African
plate collision zone. Seismic activity does vary considerably across the
country, and although some regions have little or no activity, it shouldn't be
rules out all together. The regions with the most documented activity are : the
Apennine Mountains that run down the centre of the Italian peninsula, the Alps
in northeast Italy, and the Calabria-Sicily region of the country. Holiday homes
exist in all of these areas and if you are worried about the possibility of
earthquake, you should carry out investigations prior to purchase and discuss
insurance cover available.
Buying Property in Italy - when you have located your property, attention
should immediately be turned to buying holiday home insurance italy. For
property in Italy, insurance is essential and a modern policy wording should
cover a broad range of insurance perils as you would expect from a l home
insurance policy. If you are intending to rent your property, you should of
course check as to any local regulations regarding let property and ensure that
the policy you purchase includes the necessary liability insurance cover.
For EU nationals, living in Italy is fairly straight forward and you will find
few restrictions placed on you in respect of property purchase. When you have
found the property you require, you will find the actual process of acquiring
the property to be fairly straight forward. One notable difference relates to
the purchases tax charge, foreign nationals pay 10&, Italians pay 4%
In Italy, the first step towards the
purchase
of a holiday home
purchase of a holiday home is to come to an
agreement with the vendor. A good, local solicitor should be employed. Once the
initial agreement is signed and executed, there are some basic tasks that must
be completed by the parties. You must of course be able to obtain funding for
the property. The vendor must carry out work to make sure that the title of the
property is free and clear of any and all encumbrances so that it can be
conveyed to the buyer. On signing the agreement, you will be asked to put down a
deposit, this is usually 10% but it has been known for this amount to be a good
deal higher. Be careful with this as in general terms, deposits are seen as
being non refundable, you may not be able to complete on the purchase for
reasons beyond your control. In Italy as in many other European countries, the
process is overseen by a notary, unlike other countries, the Italian notary has
more work to carry out including making certain that the title is free of any
obvious defects.
You may consider hiring the services of a geometra who will survey the
boundaries of the property and make sure that it is as laid out on the legal
description of sale. The whole process can take up to 6 months to complete and
because of this time factor and most unusually, the purchaser may move in to the
property before the whole process has been completed
So if you are seeking an holiday home insurance quote for a property in cities
like Rome, Milan, Naples, Turin, Palermo, Genova or Tuscanny areas 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.
