Is housing insurance worth it?

Last activity 07 October 2024 by Marc-melodic

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Marc-melodicNew member07 October 2024 14:33:59

We recently purchased a house and we have builders ready to start work. Can anyone tell me how liability works in Bulgaria if they damage the property? Also, is it worth getting housing insurance in Bulgaria like it is in the UK

Thanks!

JimJSerial expat07 October 2024 17:03:49

735

1 - don't even think about it; the best you can hope for is to make a lawyer richer. If you aren't there every day then you'd better be a gambling man, because builders here are unreliable - even if they don't mean to be..

2 - You can get a holiday home policy with a UK-based insurance broker, which is your best bet. BG insurance companies have a well deserved reputation for being expensive and not paying out. Even the best local policies have very low caps on what's covered, and new-for-old cover is usually unobtainable.

Marc-melodicNew member07 October 2024 18:39:15

Hey JimJ, thanks for your candid and helpful response. Very useful and really appreciate it. I'll have a look at holiday home policies now. Thanks again!

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