01 October 2005 Properties abroad require annual travel insurance More and more Britons are taking the decision to buy a second property overseas, according to a new survey.
Of those polled by American Express Travel Insurance, nearly a third are pondering over buying a home abroad.
France and Spain were the most popular destinations for a second home, followed by Italy, the US and South Africa.
With more people looking for a home abroad, the need for annual, multi-trip travel insurance is heightened.
Joanne Field, marketing manager at American Express Insurance Services, commented: "This is the second year running we have seen a rise in consumer confidence with our customers planning to travel 15 per cent more this year than last.
"One key area of growth is those owning a second home abroad and buying annual travel policies to cover their insurance needs as they continue to visit their second home."
In the last ten years, there has been an 85 per cent rise in the number of people buying a property overseas.
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