Insuring a second property

Insuring a second property

Buying a second residence – in the form of a getaway for holidays or a rental property – it is a bit similar to the purchase of a principal residence. For example, you will need to ensure that your new house has the correct type of insurance in case of disaster.

Ensuring multiple properties may seem complicated, but it really should not be different than to ensure a single house. If you live in an area which is particularly at risk of damage caused by floods or subsidence, you should need a special insurance. For example, you will need an insurance against flood to cover your building and possessions.

The level of coverage you need for your second home will depend on different things, including the way in which the property will be used. If you are going to rent it, for example, you might need a more complete insurance which helps to cover the cost of replacement of the property if it is destroyed by a fire for example.

Type of properties:


If you are the owner of an apartment, you will not especially need a building insurance because it is usually the responsibility of the owner of the building. However, it may happen that you pay the insurance through your service charges.

Renting property

If you want an insurance for a property in which you do not live, you will need special protection for such things as loss of rent and accidental damage by your tenants.

Holiday home

Having a home away from your main home is wonderful, but it needs a special insurance. Because it is empty for long periods of time, the insurers may see it as a greater risk. If you lend your property to others, you must also have an insurance against any accidental damage that they may cause.

By taking some precautions and by having an insurance to help protect your secondary residence, you will have peace of mind and you will be able to enjoy your second home whenever you want.

For more information on the various investment opportunities in the residential real estate sector in Mauritius, contact Diamond Estates who will guide you in your project implementation.