If you are lucky enough to own a second home in which you spend the weekends or holidays, then you will of course need to take out home contents insurance to cover the possessions within it just as you do your main home. However when it comes to insuring a holiday home it is of course more expensive, this is due to the fact that for a large amount of time the home is not being lived in and so is deemed as a bigger risk. However there are steps you can take to lower the amount that you have to pay for your premium.
The biggest reason why it costs more to insure a second home is the fact that you are not residing in it and as such for a large part of the time it is standing empty, which means there is more chance of it getting broken into. Steps you can take to remedy this and to bring down the premium include fitting the latest security features to the home. The better protected the property is, then the lower the risk and the cheaper the premium.
Installing the latest alarms which are listed with many insurers can go a long way to making sure your property is secure to the standard listed with insurers.
Other security features which can lower your home contents insurance include installing smoke detectors; doors and window alarms and locks; and making sure your property is totally enclosed by fencing. Insurers believe that the security in and around your home make a 30% difference between it being targeted by thieves and not bring targeted.
If your second home is in a neighborhood watch area or you have a house sitter or at least someone who can check on your property on a daily basis then this too can reduce the quote for the insurance on your second home.
When looking for insurance for your holiday home then the best way to purchase it is by doing so via a specialist broker. This will allow you to get the best quote for your circumstances.
Companies do vary in what they offer and especially in what is included or not in the policy for the amount that you are asked to pay
Alicante is conveniently located and has a nearby airport that serves the entire Costa Blanca. With the increase of discount airlines, the airport has frequent and affordable air service. Alicante is within easy reach of other popular tourist cities such as Benidorm, so it makes an ideal city for exploring the region. The city has also seen improvements in recent years which has improved its status and increased the value of property. These are some of the reasons why foreign property investment has become increasingly popular.
Alicante Real Estate Market
Due to Alicante's increase in popularity and status, property values in Spain have been on the rise. In recent years the market has seen a steady increase and this trend is expected to continue in the future. So whether you're looking for a second home or a rental investment, you should consider Alicante property.
Foreign Investment
Buying property in Spain is fairly easy and straight forward for foreigners. You can obtain a mortgage in Spain or in your home country through a large mortgage company that deals with foreign investing. If you have enough equity in your home then finding a lender won't be a problem.
There are some special requirements for foreigners buying property in Spain. One such requirement is a NIE registration number for signing legal documents. The NIE number can be applied for through the Spanish Consulate in your country. Contact the consulate or visit their website for more information.
Once you have found a home or potential property, it's important to hire an experienced attorney. Make sure he or she is experienced with real estate and foreign investment. It's imperative that the attorney is bilingual so he or she can communicate and translate the important conditions of the purchase. Your real estate agent will recommend an attorney but it's best to find one on your own so that he or she is completely independent of the sale of the property.
Renting Your Property
Renting out a vacation home while it's not being used by the owner is popular in Alicante. The region is popular for long stays in the summer so renting out your home can be quite easy. The money that is made from the rental is used to cover the mortgage so it can pay for itself. For fewer headaches it's advisable to use an agent to rent your property so you don't have to deal with minor repairs and finding tenants.
Don't rely on renters to cover the entire mortgage since renting your property is not guaranteed especially in the off-peak season. Make sure you have enough money to cover your mortgage regardless of rental income.
Both David Thomson & Eric Slarkowski are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
David Thomson has sinced written about articles on various topics from Finances, Motorola Cell Phone and Mortgage Insurance. David Thomson is Chief Executive of BestDealInsurance an independent specialist broker dedicated to providing their clients with the best insurance deal on their. David Thomson's top article generates over 90500 views. Bookmark David Thomson to your Favourites.
Eric Slarkowski has sinced written about articles on various topics from Renovation Ideas, Family and Travel and Leisure. Eric Slarkowski works principally for http://www.alicante-spain.com , an internet site covering information on property around the mar menor area . On his site you can. Eric Slarkowski's top article generates over 22200 views. Bookmark Eric Slarkowski to your Favourites.