Property insurance

01/22/2010 - 14:36

  Hopefully this Q is relevant to 'Property'. I have a property in Le Marche which I have insured through Milano Ass.  In an ideal world I would like to insure it against damage caused by earth tremors.  I appreciate that there are tremors in the region.  The only coverage I can get is up to €10,000, which would be woefully inadequate if there was significant damage. Is anyone aware of another insurance company offering cover/part cover or how they have dealt with the potential loss of the majority of value of your property? Certainly not a pesssimist, simply trying to be sensible. Mjj



 arty In your example the claim would be covered because the subsidence is a direct result of the earthquake,.In insurance language if the proximate cause of a loss is covered ( in this case earthquake) then the claim is valid.

In reply to by Penny

 Penny, we thought the same so I called Intasure who informed us of a change in policy allowing permenant residence at the same price, so does not matter whether it is your primary home or a holiday home, but you must inform them. Regards, Steve.

  Following receipt of your much appreciated views I have insured my house in Le Marche with Intasure.  Just under £300 for property and contents.  Cover includes for earthquakes but not subsidence and there are a few things to bear in mind in the small print e.g. anything stored in the basement must be 15cm above ground level.  Getting it done/approved was painless.  Property cover is set at £1 million (a tad more than the value of my property!) but an estimator then values the property based upon number of rooms and re build value.  If not viable to rebuild you get the money to re build elsewhere. My cover is for a home used up to six months a year, but this can be changed, as per SteveW.  Intasure also insures UK property as well now.  Not relevant for me at the mo as renting. The cover appears no better than the Milano Ass policy, except for the earthquake cover/peace of mind. Thanks everyone. M        

 We use Holiday Homes Abroad and they are good. We just had our insurance reduced by over £100 so I rang to see if they had cancelled the Public Liability for some reason but they said it was because Italy had reduced the earthquake cover or something. Pretty ironic really 'cos it was only a couple of week before the earthquake in L'aquila. They don't cover you if you are resident at present but I am hoping that will change in the future as I have been happy with their rates which includes Public Liability.

  Bit of a delay as been away - but yes Intasure covers if you rent out.  You can access the small print on their website. Next trip to Bar Belli should be March arty. Think there have been a few more tremors around the Falerone area.  Hopefully no damage.  N.B.  In the Yellow Stone Park there have been 500 tremors in a week!  Evidently an underground volcano is 10,000 years overdue to erupt.  And on that note I will pour a glass of Verdicchio! M