property insurance

10/06/2010 - 14:58

   Hi everyone has anyone else had this problem? We have a house in Cassino Lazio and it is split over two floors we use the top floor and are aiming to rent out the downstairs, in fact a family is going to rent it this month, hence the problem and urgency. Two ins companies inc Intasure have said that both properties must be insured separately. This works out  to be double a previous cost from the same insurer. Great, thanks David



I'm not clear about what you want to cover. The only thing I would be concerned about (you renting out to someone else) would be to cover any claim the renter might bring against you because of some fault with the building. This sort of cover comes as 'standard' with any (reasonably) low cost buildings cover from a bank or an insurance company, and I can see no reason why this should need to be split into two policies. If, however, you want to insure the "contents" - then it is reasonable that any insurance company would insist on two policies. It isn't common in Italy to take out "contents" insurance on the same basis as it is flogged in the UK (new for old, accidental damage and all that stuff), and perhaps you could write into the rental contract something which would oblige the tenants to cover themselves, or guarantee to reimburse you for any damage to "contents". Maybe you should consider whether furnishing a rental property with relatively low priced "contents" which you don't really care about would be a better option! Fire risks in a traditionally constructed and furnished Italian house are almost negligible, flooding (from natural causes) is usually enirely predictable, accidental damage you should be able to blame on the tenants. Just my opinion! Go with whatever keeps you happy, but IMO "insurance" is a very British mindset!