Real estate in Italy — are you insured?

While Italy is a far safer country in many ways than the UK and the US, violent crime against the person is far lower than in America, petty crime is rife. Burglary and pickpocketing are a big problem, particularly in the cities, and less than 10 per cent of burglaries are solved. This drives home insurance contents premiums sky high and, as a result, most people don’t bother to insure. In a vicious circle, this lack of competition keeps premiums high and Italian insurance firms take an age to settle claims.

The answer is not to go to an Italian broker for your contents insurance. If you do decided you want to insure your contents (and considering you may have your livelihood on your computer hard drive, not to mention your other possessions, we suggest you do) then look at home-based insurance companies. You’ll still find premiums high of course, but lower than their Italian counterparts. You can drive the premiums down further by investing in grilles to cover lower windows and decent locks on all windows and doors.

Italy real estate — buildings and contents insurance

Appreciate the distinction between contents insurance and buildings insurance. The latter covers the rebuilding cost of your property should it be damaged by fire, flood or whatever. Thankfully it’s a cover most of us never have to call on, but we all have to have it as part of our mortgages (assuming you have a mortgage on your villa in Tuscany or apartment in Milan). It’s well worth asking your mortgage company if they can also fold in contents insurance as part of a package. They’ll certainly offer it, and it could be a lot cheaper than going independently.

Insurance isn’t just about theft or rebuilding. If you’re letting your property part of the year, you may want to insure against voids (empty periods), though we’d advise that this is a heinously expensive type of insurance wherever you are. You may want to insure your work against loss or damage. With Italy’s notoriously erratic electricity supply, sudden surges in voltage can blow the hard disk of your PC, as well as TVs, videos and other equipment.

Living in Italy — life assurance

Consider too whether you are adequately covered by life assurance. This is applicable everywhere, not just in Italy of course, but when you’ve already made a big shift to a new country, the trauma to your partner and family could be all the greater if you are not adequately insured. What happens if you fall under the tractor during the olive picking? Can the wife or husband keep on paying the mortgage on your Umbria real estate? Maybe (silver linings here) a big insurance payout could soften the blow a little. Sorrow to sound callous here, but we have to be pragmatic! Again, home brokers will be able to advise on the best deals.

Drivers should ensure your motor insurance is up to date. It’s very common to be stopped and asked to supply your insurance papers, with heavy fines for the uninsured.

Living in Italy — health insurance and treatment

In theory, EU visitors shouldn’t need health insurance, being entitled to the same health care entitlements as any Italian. But in Italy, free and universal health care, coupled with an ageing population, has put a major strain on the system. Now there is an elaborate system of co-payment for drugs, specialists’ consultations and treatments, and lab tests. Some Italians are exempted from co-payments such as elderly, chronic patients, disabled individuals and people with low incomes.

It’s safer to ensure you’ve adequate health insurance, it invariably comes as part of your travel insurance anyway, but you need to consider how you’re covered should you be living in Italy full time. This could be the time to take out comprehensive health insurance.

British visitors should always carry a completed E111, obtainable free of charge from British Post Offices. This will help you get emergency medical treatment in Italian state hospitals. Australia also has a healthcare arrangement with Italy. For more information, visitors should check with their home Government department with responsibility for overseas travel. American readers can go to http://travel.state.gov/italy.html and UK readers to www.fco.gov.uk/travel.