With long periods of vacancy, increased exposure to risk, and cross-border complexity, insuring a second home is a far more strategic matter than it may appear.
Introduction
Imagine this: you spend a few weeks each year in your seaside villa or mountain chalet. Then the shutters close, and the property remains empty for months. What if a water leak occurred? A burglary? Or a fire in a neighboring house?
Many owners discover too late that their standard home insurance offers little—or no—coverage when a residence is left unoccupied for extended periods. Yet such properties often represent a major part of one’s wealth, sometimes even more valuable than the primary residence.
This article explains how to protect a second home effectively, whether it is located in your country of residence or abroad. We will look at common mistakes, international challenges, and how IFO Global supports multi-residence owners with a unified, confidential approach.
1. Why a second home is never just another property
1.1 Higher exposure to loss
The statistics are clear: an unoccupied home is three times more likely to be burgled, and over one-third of all claims in second homes involve undetected water damage.
The lack of regular oversight also increases the likelihood of fire, humidity, or frost damage. For insurers, long vacancy periods constitute an aggravating risk factor: after 60 to 90 days of absence, coverage may be reduced or even suspended.
1.2 Different legal and tax frameworks
Each country has its own rules—maximum vacancy periods, requirements for non-residents, and taxation on second homes.
In Spain, Portugal, or Italy, insurers often require the owner to have a local address or representative. In Switzerland or the United Kingdom, coverage may depend on tax residency or the policyholder’s nationality.
For owners with properties in multiple jurisdictions, the real challenge lies in coordinating all these regimes and policies consistently.
2. The most common mistakes
2.1 Assuming a standard policy is enough
Traditional home insurance is designed for properties occupied year-round. Extending it to a second home is rarely sufficient.
Each property needs a dedicated policy tailored to the length of vacancy, the location, and the value of the assets it contains.
2.2 Failing to declare periods of vacancy
This is one of the most common—and costly—mistakes.
If a loss occurs after an absence longer than the period allowed, the insurer may deny compensation for failure to disclose the risk. Some companies require regular inspections or the presence of a caretaker to maintain coverage.
2.3 Underestimating the value of contents
Second homes often hold valuable items—artisan furniture, artwork, fine wines, or collectibles.
Most standard contracts cap contents coverage at a percentage of the property’s value. In case of loss, compensation may fall far short of the actual damage.
IFO Global recommends a comprehensive property and contents assessment to define coverage limits that reflect real asset values.
2.4 Overlooking regional risks
Floods, wildfires, landslides, or storms: climate risks are increasing everywhere.
Many policies exclude events not officially recognized as natural disasters or exclude outdoor property such as pools, pavilions, or gardens. A geographic risk analysis is essential before choosing a policy.
3. Local specificities depending on the property’s location
3.1 Within Europe
European countries impose different insurance obligations, particularly for non-residents.
- In Spain, some insurers refuse coverage for foreign owners without a local bank account.
- In Portugal, undeclared seasonal rentals may invalidate the policy.
- In Italy, theft protection often depends on the installed alarm system.
IFO Global acts as an authorized intermediary to structure harmonized coverage across Europe, ensuring compliance with local requirements while maintaining consistent protection.
3.2 Outside Europe
In regions such as the Middle East, the Caribbean, or North America, the rules differ again:
- Separate policies may be required for hurricanes or earthquakes.
- Political instability or terrorism exclusions may apply.
- Some insurers automatically terminate policies when the primary residence changes.
With offices in France, Lebanon, and the United Kingdom, IFO Global works with trusted international partners to issue local policies within a coherent global insurance framework.
4. How insurers assess second-home risks
4.1 The main criteria
Before quoting a premium, insurers analyze several factors:
- the annual duration of vacancy
- the presence of a caretaker, concierge, or alarm system
- the location and exposure of the property
- the insured value of the building and contents
- the claims history
Security systems can have a major impact on premiums: a monitored alarm system can reduce costs by 15 to 25 percent.
4.2 High-value and prestige properties
For luxury properties, high-end insurers take a bespoke approach.
Specialized assessors inspect the home to evaluate construction quality, anti-intrusion systems, and maintenance routines.
The resulting policy is often based on an agreed value, pre-set between insurer and client, ensuring full and immediate compensation in case of a major claim.
5. Best practices to protect a second home
5.1 Securing the property
- Install an alarm system connected to a monitoring center.
- Entrust the keys to someone reliable who can visit regularly.
- Shut off water and electricity before leaving for long periods.
- Use automated lighting or shutters to simulate occupancy.
- Inform your insurer of any extended absences.
IFO Global advises combining electronic monitoring with human oversight (concierge or inspection services) to prevent exclusions linked to a lack of supervision.
5.2 Regularly updating insured values
Renovations, new décor, or art acquisitions can alter the property’s total value.
A regular photographic inventory helps adjust coverage and simplify claims handling.
IFO Global centralizes this information in a single property dossier, updated regularly to ensure consistency across the entire portfolio and to avoid discrepancies between actual and insured values.
5.3 Considering additional coverage
- 24/7 emergency assistance for urgent repairs
- Electrical or smart-home damage
- International legal protection
- Specific coverage for fine art or collections
- Rental income protection for occasional leasing
IFO Global’s high-end insurance programs combine these benefits in a single coordinated policy, eliminating overlaps and gaps in coverage.
6. IFO Global’s approach to multi-residence ownership
Owners with multiple homes across different countries often face fragmented coverage: each property insured locally, with different conditions, inconsistent limits, and multiple contacts.
IFO Global simplifies this complexity through a unified approach:
- Comprehensive audit of all property assets to identify overlaps and coverage gaps
- International insurance structuring, with one dedicated contact and harmonized policies
- Global partnerships with insurers specializing in cross-border wealth management
- Total discretion and confidentiality, following private banking standards
As Lucien Letayf, founder of IFO Global, explains:
“Our mission is to orchestrate the global protection of our clients’ assets, beyond borders and beyond individual contracts.”
This method ensures that each residence—whether in Paris, Lisbon, or Dubai—receives consistent, optimized protection under one coherent strategy.
7. Real-life case studies
7.1 Mediterranean villa left vacant for several months
A client owned a villa in Spain that remained unoccupied for most of the year. A water leak caused major damage, but his local policy limited coverage after 60 days of vacancy.
IFO Global restructured the insurance with an international underwriter, adding clauses for extended vacancy and periodic inspections by a concierge company.
7.2 Multiple European residences
One client owned three homes in Geneva, Florence, and Marbella, each insured by a different local provider.
IFO Global designed a single pan-European program, harmonizing coverage levels and ensuring compliance with local laws.
7.3 Art collection spread across several properties
An entrepreneur displayed parts of his art collection in London, Monaco, and Dubai.
IFO Global consolidated his coverage under one global art and property policy, allowing free movement of artworks between residences without prior declaration.
8. Key trends shaping second-home insurance
8.1 Climate change and premium increases
Coastal, island, and mountain regions are experiencing higher exposure to natural disasters. Insurers are adjusting pricing, with premium increases of 15 to 30 percent in some areas.
Proactive risk assessments help anticipate such changes and negotiate sustainable terms.
8.2 Connected technology and prevention
Smart sensors for water leaks, smoke, or motion are revolutionizing risk management.
IFO Global incorporates these devices into its audits, as they significantly reduce claim frequency and insurance costs while giving clients real-time visibility on their properties.
8.3 Integration of insurance and concierge services
Today’s high-net-worth clients seek comprehensive solutions that include security, maintenance, rental management, and insurance coordination.
IFO Global partners with premium concierge providers to offer a complete and confidential service, perfectly adapted to internationally mobile lifestyles.
Conclusion
Insuring a second home occupied only a few weeks per year is not a simple administrative formality. It is a strategic process designed to preserve international assets and ensure peace of mind, even from a distance.
The most frequent mistakes—unsuitable contracts, incomplete declarations, or fragmented coverage—can lead to major financial losses. Conversely, a unified and well-managed program simplifies administration, reduces costs, and guarantees seamless protection.
IFO Global has long supported an international, discerning clientele in protecting both their properties and their way of life. With our expertise in multinational environments, our global network of premium insurers, and our culture of bespoke service, we bring the serenity required by complex asset structures.
Protecting your residences means protecting your freedom to live wherever you choose.