Holiday Home Insurance Italy – Assetsure are able to offer insurance for an Italy holiday home. Italy occupies a Peninsula running southeast into the Mediterranean from the mainland of Europe. It’s shape is familiar to most people, the sale of holiday homes and property is not so wide spread in Italy and it could be said that property here appeals to a more discerning investor. Ownership of Holiday home property in Italy has quietly been fashionable for many years. Although not as popular with the Brits as France & Spain, there is still plenty of property available and people escape to the wonderful Italian countryside for the sheer beauty of it’s rolling hills & peace and quiet. If you get bored, according to UNESCO, Italy hosts about 50% of the known cultural heritages of the entire globe so you shouldn’t run out of places to visit and things to see. Like most places in Europe, Italy has seen an upsurge in property prices in particular from overseas investors wanting to buy holiday homes. The major resort areas remain the hotspots but country property has it supporters as well.
Building Insurance Risks to Italian Holiday Homes
Although not known for an abundance of natural disasters Italy has been known to suffer from the occasional severe bout of flooding (especially in the north) and the odd bush fire (mainly in the south). Perhaps of bigger concern to homeowners is the peril of earthquake and Italy does have a much documented history in this respect of this. In fact Italy seems to have cornered the market with earthquake information records and there are more than 400 damaging events documented during the last 2,000 years. Most of the earthquakes occurring in Italy are generated by motion along the boundaries of micro plates in the Eurasian-African plate collision zone. Seismic activity does vary considerably across the country, and although some regions have little or no activity, it shouldn’t be rules out all together. The regions with the most documented activity are : the Apennine Mountains that run down the centre of the Italian peninsula, the Alps in northeast Italy, and the Calabria-Sicily region of the country. Holiday homes exist in all of these areas and if you are worried about the possibility of earthquake, you should carry out investigations prior to purchase and discuss insurance cover available.
Buying Property in Italy
When you have located your property, attention should immediately be turned to buying holiday home insurance Italy. For property in Italy, insurance is essential and a modern policy wording should cover a broad range of insurance perils as you would expect from a l home insurance policy. If you are intending to rent your property, you should of course check as to any local regulations regarding let property and ensure that the policy you purchase includes the necessary liability insurance cover. For EU nationals, living in Italy is fairly straight forward and you will find few restrictions placed on you in respect of property purchase. When you have found the property you require, you will find the actual process of acquiring the property to be fairly straight forward. One notable difference relates to the purchases tax charge, foreign nationals pay 10&, Italians pay 4%.
In Italy, the first step towards the purchase of a holiday home purchase of a holiday home is to come to an agreement with the vendor. A good, local solicitor should be employed. Once the initial agreement is signed and executed, there are some basic tasks that must be completed by the parties. You must of course be able to obtain funding for the property. The vendor must carry out work to make sure that the title of the property is free and clear of any and all encumbrances so that it can be conveyed to the buyer. On signing the agreement, you will be asked to put down a deposit, this is usually 10% but it has been known for this amount to be a good deal higher. Be careful with this as in general terms, deposits are seen as being non refundable, you may not be able to complete on the purchase for reasons beyond your control. In Italy as in many other European countries, the process is overseen by a notary, unlike other countries, the Italian notary has more work to carry out including making certain that the title is free of any obvious defects. You may consider hiring the services of a geometra who will survey the boundaries of the property and make sure that it is as laid out on the legal description of sale. The whole process can take up to 6 months to complete and because of this time factor and most unusually, the purchaser may move in to the property before the whole process has been completed.
So if you are seeking an holiday home insurance quote for a property in cities like Rome, Milan, Naples, Turin, Palermo, Genova or Tuscanny areas why not see if we can help. The main holiday home areas are: Abruzzo, Aosta Valley, Apulia, Basilicata, Calabria, Campania, Emilia-Romagna, Friuli-Venezia Giulia, Latium, Liguria, Lombardy, Marches, Molise, Piedmont, Sardinia, Sicily, Trentino-South Tyrol, Tuscany, Umbria and Veneto.
