Bulgaria is an ancient and vibrant country with a lot to discover, and many people who own Bulgaria property find that they love experiencing this unique destination year after year. However, don’t forget to insure your holiday home Bulgaria property so that the house and its contents are protected.
Owning a holiday Bulgaria property has its hazards, just like anything else, and it is important to protect yourself against the worst case scenario and always make sure that your holiday home is properly insured. You have two options of where to get insurance: you can look for an insurance agent in Bulgaria or find one in the UK. The Bulgarian insurance company will have a better understanding of how the local system works but you might suffer from a language barrier. The other option is to find a UK insurance company which is familiar with how things work in Bulgaria.
Here are some helpful tips for insuring your Bulgaria property:
- Calculating the buildings cover will usually be based on the cost of rebuilding the home, which might not be the same as the property’s market value. Instead, insure the home for the amount it would take to reconstruct it, including all utilities, patios, play areas, driveways, gates, walls and fences.
- You will also need to take out an extension on your home insurance in the UK to cover your personal property which is outside the home, such as travel luggage, mobile phone, and cameras while you are staying at your Bulgaria property. Your building insurance package will only cover the permanent fittings and fixtures in the home and will not cover the furniture, crockery, cutlery, appliances and other items that you keep at your second home.
- When you are insuring your contents, make sure that you factor in how much it would cost you to replace your insured items with brand new versions at the current market price.
- Don’t forget to consider public liability, especially if you will be renting out your holiday home Bulgaria property to others. If a visitor slips and hurts themselves they could try to make a claim against you.
- Make sure that your insurance policy will cover you in the event that you are letting your home out to someone else but you have to drop everything and travel to Bulgaria to deal with damage.
- Will your insurance policy cover the lost rental income when your home is damaged?
- Does your holiday home have a swimming pool? Remember to check and make sure your insurance policy covers the pool. If you don’t have a pool however, don’t pay for what you don’t need.
- If your Bulgaria property is close to the sea, it is important to think about flood insurance.
Take the time to find the right insurance for your Bulgaria property so that you can be reassured that you will be protected whatever happens.
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