January 28, 2009

Insurance changes for holiday home owners

A change in the public liability insurance could mean that many UK based owners of property in Europe could find that they are seriously underinsured following the introduction of the Rome II legislation.

This particularly affects owners of property abroad who let it out for holiday rental, but what makes this law especially serious for UK based property owners is when they let it out to British holidaymakers.

If there is an accident then the case go be heard in a UK court, where compensation claims are traditionally a lot higher than in Europe, this is where the insurance lets them down and they could end up having to pay the difference.

Source [Holiday Lettings]