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The best companies for second home insurance

Despite the slump in the economy more and more people are taking the opportunity to invest in a second home, either abroad or here in the UK. Just like your residential home, your second home will also need insurance to protect you from having to foot the bill for expensive repairs or theft. Second home insurance also covers other things not necessarily needed for your average home. For instance, if you plan on renting out your second home while you are not there, you will need accidental damage and liability cover. This means you are adequately covered in the event something is broken or if one of your tenants sustains a home-related injury.

StaySure offers second home insurance specifically for the over 50s, as it is said this age group is the one most likely to own a second home. StaySure offer British and foreign second home insurance, which covers legal liability up to £5 million and will also cover the cost of emergency travel costs, earthquake cover as well as footing the bill to have your home's locks changed in the event of a robbery. They offer multiple levels of cover starting at just £10 per month and they have a 14-day refund policy if you are not happy.

Direct Line also offer second home insurance to applicants of all ages. They have two levels of protection available, with the option to add family legal services and further accidental damage to your coverage if you wish. Only their Direct Line insurance plus offers liability insurance as standard, so it is important you purchase this one if you intend on using your second home as a rental property. Details of their second home insurance offers are available on their website, where they also have a building and contents calculator to help you work out your second home's rebuild value as well as the value of your belongings.

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