Property owners offered overseas insurance

Tuesday April 21st , 2009

Owners of property in Cyprus and other European countries are being offered new holiday home insurance packages.

Saga has launched revamped insurance policies, protecting property owners against damage to their homes and finances.

One package protects homeowners who let out their property against loss of rent when they are out of the country.

New garden cover can also be taken out, protecting homeowners for £1,000-worth of damages.

Research from Saga shows that overseas property remains popular among Britons despite the global economic downturn.

The company suggests that around 11 per cent of people over the age of 50 currently own a holiday home.

Holiday firm Expedia.co.uk recently announced that increasing numbers of people may be looking to move to foreign destinations within three hours of the UK.