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Originally Posted by sdgc
does anyone know which insurance companies are best to go with for insuring property/contents in egypt, would uk companies give a better deal/cover than egyptians ? are the local companies cheaper ? also are there any specific areas that it would be essential to insure against, e.g. earthquakes,
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It depends on what cover you are looking for.
If you are buying a shared Freehold in Hurghada then you need to consider what everyone else is doing in the apartment complex as a whole.
If you are only looking for "contents" cover then that is possibly cheaper in Egypt, if you can find anyone to do it. It's easier to do it in the UK since then you know where you stand and it would be easier to deal with claims etc.
If you are looking for combined building and contents, which is what you should be doing, then the most sensible way to do it SHOULD be via the developer in a group scheme. If the developer is not offering this then do it via your owners club. If there is no owners club then maybe you need to think a bit more about what you are buying into.
You need to be sure that all of the "common areas" are included in the policy and since YOU do not own the common areas YOU cannot insure them, but somehow you have to otherwise you will never get a rebuild if there is substantial loss.
Group schemes include EVERYTHING in the complex. You then only have to decide how to split the total cost.
It's just possible, that your annual manit fee covers the building insurance, but I wouldn't bet on it.
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