Home Insurance - Second home insurance - 09/07/2008

Wealthy British people are leaving over £6 billion worth of possessions unattended in their holiday homes, according to a top insurer. Zurich Private Clients say that an average of £15,200 worth of contents sits in second homes across the UK and abroad.

These holiday homeowners confess that they don't visit their other properties very often, with two thirds visiting no more than once every three months.

Despite this, just half (48 per cent) have window locks and only one in five (22 per cent) have an alarm fitted. Some second homeowners (six per cent) admit that they have no security measures in place at all.

The 'high net worth' insurer noticed a trend of wealthy clients being targeted by burglars, especially those with large jewellery collections. Surprisingly, one in ten second homeowners have no home insurance for the contents of the houses. While over ten percent are unsure whether their cover is adequate.

Nick Brabham, head of Zurich Private Clients, says under-insurance is common and warns people to properly secure and insure their holiday homes.

He said: "We often let our guard down as we relax and unwind, but we need to ensure that we don't compromise on security or cover, leaving our property vulnerable and thousands of pounds of our possessions at risk."

The Zurich poll is echoed by the Association of British Insurers, who found that the British are leaving themselves vulnerable to unnecessary risk by failing to insure their second homes.

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