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UK residents gets 'heads-up' on overseas insurance concerns

10/11/05

Many UK residents who purchase a second home abroad are often unaware of the direct threats to their possessions and new insurance requirements but a new concept in France can help.
 
A company across the channel has created property tours of France enabling potential investors to look directly at properties in different areas.
 
The tours showcase different cities and towns throughout the country showing how properties could provide a thriving rental income or holiday aboad.
 
However, these tours also serve as a handy insight into threats the potential property could face. Theft, flooding or storms could be more prone in a particular area and could give investors a 'heads-up' on their insurance needs.
 
The tours see a bus load of investors stay in the chosen area over a four-day period enabling them to chat to locals, discuss the weather, crime rates, as well as how many tourists arrive in peak seasons.
 
Although primarily used to promote an area for its investment opportunities the trip can help Britons decide whether their investment will be 'at-risk' from potential natural events (storms, hurricanes, snow) or crime.
 
According to property website Assetz, the number of UK citizens considering buy-to-let opportunities in France appears to be growing. However, many potential investors are 'put-off' by red tape or insurance concerns.
 
A recent report from Barclays predicted that property investment is set to double by the end of the decade, with France expected to benefit from the rush. Other areas of particular interest for Britons looking abroad included Spain, Florida, and Cyprus.