INSURING YOUR PROPERTY

This is very important as your Bulgarian property is inaccessible to you personally for the majority of the time.

The insurance policy usually covers both the apartment itself and also the contents. We had a number of quotations, and found that not only did prices vary considerably, but on examination, so did the cover.
Some policies are all singing, all dancing and include every eventuality, and others just cover basics and if you want to add specific eventualities, it then costs extra.

We initially used a Bulgarian company, Halifax Consultancy Ltd who recommended we take out our insurance with HDI.

We found them to be responsive, helpful and communicative as they speak good English. We therefore would have no hesitation in recommending them if you are insuring your property purely for yourself, family and friends. Contact Natalia Nikolova or Theo Stamose.

However, we have recently been informed that to rent out our ski apartments we will need to have third party liability insurance. Unfortunately insurance taken out with a Bulgarian company does not give adequate cover for third party liability. A typical figure in Bulgaria is around 10,000 euros. In the unfortunate event of a short term tenant having an accident in your apartment it may be possible to take legal action outside of Bulgaria. It is therefore essential that you are covered by UK law. There are a number of UK companies providing third party liability insurance giving protection up to £2 million. However to obtain this, you will need to take out buildings and/or contents cover.

The company we now use is Underwoods Insurance in Gwent, South Wales, who provide us with the necessary cover.

To obtain a quotation from Underwoods, download an Underwoods quotation form by
clicking download quotation form

Once complete, please attach and email to overseas@underwoodisl.co.uk.

Alternatively, contact Bev Reardon at Underwoods on Tel: 01633 247742
please quote ref: Bulgaria Buyer when calling.

Page last updated: 7th January 2007