More travel insurance sold to holiday home owners

Thu, 29 Sep 2005

A third of all Britons are considering buying a holiday home abroad, new research has found.

The survey, conducted by American Express Travel Insurance, said that France was at the top of the wish list of countries to find a holiday home, with Spain coming second.

Currently Britons have more properties in Spain, with 750,000 already owning houses there, 250,000 more than in France.

Joanne Field, marketing manager of American Express insurance services, said that the insurance provider had seen consumer confidence rise for the second year in a row, reflected in their increased travel insurance sales to second home owners.

"One key area of growth is those owning a second home abroad and buying annual travel policies to cover their insurance needs as they continue to visit their second home," she said.

The dream of owning a property in France could be made less stressful if planning work is conducted at home before venturing, according to FrenchEntrée.com.

The website also recommends obtaining as much local knowledge as possible through speaking to former ex-pats or local residents.

A number of mortgage lenders also offer services for Britons hoping to find a mortgage to purchase a holiday home.

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