Finding good holiday home insurance can be problematic for many Irish people who have a second home either in Ireland or abroad.
Many Irish people who bought second homes in countries such as Spain, France, the UK or other overseas locations encounter difficulty in getting decent quotes for their second property.
The reason for this is that for it to be profitable for an Irish insurance company to provide you with cover they need a good many overseas properties on their books in order to gain some scale to make it worth their whild.
Some leading insurance companies such as Axa, 123.ie and the AA provide limited holiday home insurance cover for second homes both here in Ireland in popular spots such as Donegal, Kerry or Wexford or overseas.
Your best bet may be to contact insurance brokers who place business in the UK market with many of these policies ultimately being underwritten by Lloyds of London.
One such company who specialize in second or overseas home insurance policies is Intasure which is a UK based company specialising in second home policies with policy documents in English.
It is important to understand the limitations of your policy and the need in some locations to make provision for cover for earthquakes and other local events that you may not consider when insuring your home in Ireland.
Many insurers however will not quote you for your holiday home insurance as a standalone product-they insist that you have your primary residence insured with them also before quoting for a second home.
QuoteMe.ie is an Irish operation will get you a quote though for your holiday home-you need to fill out their form online and they will get you a quote from leading providers of holiday home insurance. QuoteMe.ie is the portal of Irish insurance brokers O’Callaghan Insurances and was launched in 2006.
First Ireland may also provide insurance for overseas homes and cover Spain, France, Portugal, Greece, Cyprus, Turkey and the Uk with your policy being underwritten by Lloyds of London.
Chartis Ireland also provide insurance cover for holiday homes but only in Ireland and there are a number of issues which you will need to consider when obtaining insurance for your holiday home. These include
- What, if any, restrictions are in place in respect of letting your property
- Are there any onerous or hidden conditions in relation to the property being unoccupied
- Is it necessary to turn off electricity and water to your unoccupied Irish property between November and March?
Undoubtedly you will find it easier to find insurance for your second home in Ireland and the fact that you can negotiate locally with a broker in Ireland is reassuring; overseas property on the other hand is much more problematic and you will probably be best advised to contact some of the bigger insurance brokers who specialize in this area of business and who act as agents for some of the bigger UK insurers who would have a vibrant, expat market overseas in places like France, Spain and Turkey.