Despite the recession, over-50s still enjoy having a second home overseas but they are being used less and Saga has introduced a new home insurance policy for holiday homeowners.
Research by the home insurance company showed that 11 per cent of over-50s own a home overseas, but those homes are being used one month out of 12 as people cut down their visits to locations abroad.
Saga has announced a new simplified home insurance policy to reflect this, offering no un-occupancy limit and £25,000 protection from loss of rent for those who use their homes as a source of income.
Forty-eight per cent of over-50s rent their overseas homes to family members, but a £2 million legal liability cover will ensure that the home is insured whoever is using the house .
Those cutting back on travel spending during the credit crunch by taking a caravan holiday have been encouraged to save even more by shopping around for the best motor insurance deals.




