Is it really necessary to have a holiday home insurance in Italy?
Yes, property insurance in Italy is an important topic. Although not mandatory, it represents a safety in case of damages and it provides you with protection from risks you couldn’t afford to cover yourself.
Therefore, to protect your investment, when you have completed your house purchase, it is recommended to insure your property for nearly all major calamities including theft, fire, explosion, personal injury, vandalism and natural catastrophes.
There are two insurance options you can choose from
The first possibility is to insure your property in Italy with a specialised company in your homeland. The advantage is to have a policy written in your native language so it is easy to understand all documents and handle all the paperwork.
The second option is to purchase a policy with an Italian insurer. It is suggested to choose this option only if you have a good understanding of the Italian language and are able to read correctly all the wording of an insurance document.
If you are not fluent in Italian but wish to proceed with an Italian insurance, it will be necessary to hire someone who can speak the language.
Also, please remember that usually, Italian policies do not cover rental and thefts therefore, if your require these options, make sure that they are included when asking for a quote.
Furthermore, please bear in mind that if your home is covered by an Italian mortgage, it is mandatory to have an Italian premium.
How much does it cost?
Regarding costs, generally, Italian insurance companies are a bit less expensive than companies abroad and also, sometimes it could come to conflicts if for instance your property is insured with a foreign insurer and the building instead with an Italian provider.
However, costs depend on the area where the property is located, the contents and the size of the house. It is wise to ask for more than one company for an estimate so you can compare terms, coverage and reliability.
If you would like to discuss in more detail how you can protect your Italian holiday home please send us an email to: firstname.lastname@example.org