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Enter your zipcode below and click “GO” to get multiple free quotes. The Italian insurance compared to the UK covers virtually nothing and when you want to cover contents the prices are horrendous for very little cover. Unless you speak the language fluently and would permanently stay in Italy, it is smart to get through the details of your insurance policy. A sudden surge of power supply can ultimately burn your appliance which can do damage on your property.
A friend of mine, whose house was pretty much destroyed in the Abruzzo earthquake, rebuilt within a year thanks to the fact that they had a policy with a UK company covering earthquake damage. In the event of total loss, building insurance is based on the cost of rebuilding your home. Make sure that you insure your property for the true cost of rebuilding.
Key Events in Italy
Earthquakes are supposed to be covered by the Italian government - but you might wait twenty years for your house to be rebuilt. Water damage caused by burst pipes due to old age or freezing may be excluded; under Italian law you're required to turn off the water at the mains if a property is left empty for more than 24 hours . For just €2 a month, you can have unlimited access to all the articles, the discussion and classified ad functions; and you can help us to keep the web server up and running and produce new contents. Damage caused by earthquakes and floods both to the dwelling and to the content. The Gate-away.com family created this blog to post about our inspirations, work, useful resources and news about Italy and its property market that we hope you find useful during the search of your dream home in the bel paese.
Once a property has been selected, however, it is time to think about all the ‘nuts and bolts’ that are involved in the structuring of a successful home buying experience. The Italian state healthcare system does not cover the full range of services covered by the NHS in the UK, and for this reason, we recommend taking out private insurance to fill in these gaps. As insurance documents are often very detailed, we recommend opting for an insurance provider who can provide you with a policy in your own language, rather than in Italian.
Jenny Vidrine - State Farm Insurance Agent
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. Try to make sure that storm damage and natural disasters are covered and that the amount you are insured for covers the rebuilding cost. Contents are usually insured for the same risks as a building and are insured for their replacement value. Contents polices are restrictive with regard to security, including locks, window shutters or grilles (all windows less than 3m/10ft from the ground must be barred), armoured doors, etc..
You should insist on a safe being approved by your insurer and a certificate being issued to verify this . Valuables are usually covered only when you're present, rather than abroad or on holiday. Due to the many loopholes, you may be better off keeping your valuables in a bank safety deposit box. When claiming for contents, you should produce the original bills and bear in mind that imported items may be much more expensive in Italy. I'm sure that's right Badger, it's just my experience of insurance companies is that they are happy to take the premiums but unwilling to pay up when it comes to the crunch..we don't even have contents insurance in the UK anymore. In essence insurance companies are only in it for the money they can make and not a service for unlucky souls..better to put your spare cash in a deposit account and draw on it if and when the need arises.
Nickie Weyrauch: Allstate Insurance
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.
Considering also how much higher the insurance prices are here. We bought our first home in Italy after 5 years of living there. A selection of the most beautiful photos of Italy sent to us by our Facebook fans.
They may be able to insure your house in Italy as an add on to your current insurance policy. Jeniot, a company launched by Generali Italia at the end of 2018 that develops innovative services in the Internet of Things and connected insurance area tied to mobility, home, health and work, also continued to grow. The coverage also covers damage caused by fire to things and / or people nearby. Italian insurance agreements, as with Italian real estate contracts, are all written in Italian. If you had difficulties with, or were comfortable with, your purchase contract, then you can expect the same in regard to the wording of an insurance policy.
So, unless you are buying a home without also purchasing a mortgage product, the subject is moot. And, even if you are not using a lender, it is highly recommended that you insure your purchase, not only for your own good, but also for liabilities you may incur along with your property. If your pockets aren’t deep enough to cover all eventualities, you’ll need to purchase some form of home owners insurance. At the same time, you have to find ways to review the insurance if it covers natural calamities like earthquake. Italy’s home insurance supposedly covers earthquake damage in which the government should shoulder whatever the cost of rebuilding the house. One other major problem with insurance companies in Italy is that they seem reluctant to pay out on holiday house insurance claims and you can forget about them ever including insurance on valuables.
It seems governments in Europe are scratching, scrapping and even stealing to get the money they need to pay of the huge debts they have accumulated over the years. It would be nice to see the politicians themselves making some huge sacrifice too but I suppose it is more likely that pigs will fly first. As an expat in Italy, it is a good idea to organise private health insurance, to ensure you have access to all the medical facilities and treatment you require, particularly if you have specific medical needs. As accidents happen and you can never predict what’s around the corner, you need to insure your property, possessions, and health.
So it would be wise to have someone who can speak the same language as the insurance expert. Insurance isn’t the first thing people think about when they are buying a home. Although home owners insurance is an important topic, it is often overlooked in all the excitement of buying a house, condominium, or apartment in a new locale.
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