Holiday Home Insurance Liechtenstein – The Principality of Liechtenstein is a a very tiny landlocked country with a population of approximately 35000. It is not known as a destination for the purchase of Holiday Homes, in fact to the vast majority of people, little is known of this country, this country is probably best known as a tax haven and over 70,000 companies have nominal addresses in the country and money or the handling of money count towards a good deal of the countries wealth. The country is closely associated with Switzerland and since the signing of the Customs Treaty in 1924, Liechtenstein and Switzerland have represented one mutual economic area with open borders. Liechtenstein also uses the Swiss franc as it’s national currency, and customs officers from Switzerland are responsible for the border with Austria.
The country is a Hereditary constitutional monarchy and the head of state is Prince Hans-Adam II who In 2003 won sweeping new powers in a constitutional referendum which gave the Royal family the power to veto parliamentary decisions and to sack the government. You could say that tiny Liechtenstein is Europe’s only absolute Monarchy. There are a few second homes dotted around and foreign ownership is limited.
Geography and Terrain – Location wise, It is bordered by Switzerland to the West and by Austria in the West. Although very small, the country is divided in to many separate regions; Balzers,Eschen, Gamprin, Mauren,Planken, Ruggell, Schaan, Schellenberg, Triesen, Vaduz. In 1978, Liechtenstein became a member of the Council of Europe and then joined the UN in 1990, the European Free Trade Association (EFTA) in 1991, and both the European Economic Area (EEA) and World Trade Organization (WTO) in 1995. The geography is alpine and 66 % of the country is mountainous with some some farm holdings. The climate is best described as continental; It is often cold with cloudy winters marked by frequent snow or rain; Summers are cool to moderately warm, cloudy and sometimes humid Breathtakingly beautiful Liechtenstein manages to combine and old world feel with very modern facilities. The Principality of Liechtenstein has gone through a huge economic and cultural development since the end of the second world war almost unprecedented amongst other European countries. In this short period of time Liechtenstein has changed from a mainly agrarian economy to one of the most highly industrialized countries in the world. The most important branches of the countries heavily export-oriented industry are mechanical engineering, plant construction, precision instrument manufacture, dental technology, and the food-processing. In all of it’s industries, the country prides itself on quality not quantity.
Overseas Property Insurance – Although there are not a great deal of Holiday or second homes in :Liechtenstein, insurance is available from the United Kingdom and a full range of perils is usually available covering Fires, Floods, Earthquakes and property owners liability. If you have a property that is being rented out, then the liability section of the policy should be extended to make sure that the correct form of cover is being offered. Tiny Liechtenstein has to a certain extent rely on neighbouring Switzerland to help out with any natural disasters, it has no military or civil defence and although there have been no major disasters in the country since 1927. it is well prepared and to guarantee the best possible protection for the population in the event of any natural disasters such as flooding, a Disaster Protection Act was enacted in 1992