Buying overseas property insurance from local providers can leave foreign property owners exposed to risks that they may have thought were covered. The wording and interpretation of insurance documents is crucial in the understanding of the exact cover being offered.  Tonic Underwriting (http://www.tonic.gb.com) is launching a new insurance product for properties abroad. UK based Tonic will offer policies that are managed in the UK and subject to UK law where possible. Importantly all policies will be written in English thus avoiding any complications and risks of interpretation. Tonic directly controls the policy process from preparation of quotations to policy issue right through to claims management and settlement.

Over 90% of Brits insure their overseas property in the local market and most without fully understanding the cover and adequacy of their policy. Often done as an afterthought, finding adequate quality insurance cover can become difficult with language barriers, unfamiliar legal systems, insufficient cover and time consuming claims. These are all problems that Tonic aims to solve. With over 100 years of experience, the Tonic team will appeal to owners who are looking for a premier policy for their homes overseas, as well as being able to deal directly with specialists who have firsthand experience in these markets. In addition, Tonic will offer a bespoke product and service to cater to the discerning property investor who needs to ensure that their portfolio is protected.

Backed by Brit Insurance and FSA regulated, offers coverage for mid range homes to the largest properties throughout Europe - France, Italy, Spain, Portugal, Cyprus, Eire, Greece and the UK.

By offering high levels of coverage and immediate protection in most cases, Tonic offers premium ratings at competitive pricing with maximum values insurable in excess of £10 million. Uniquely Tonic will offer additional cover and benefits that may be omitted from policies offered in the local market such as valuables, fine art, subsidence and earthquake cover. Tonic’s knowledgeable team and extensive ‘on the ground’ EU network will provide all the necessary support quickly should a claim arise.

John Newman, Chairman and Chief Executive of Insurance company Tonic, says “In our experience we have seen the consequences of inadequate policies on properties abroad, and Tonic was created to fill that gap. Tonic policies offer extensive coverage and are written in English, making the whole process of insuring your property abroad as straightforward as possible. We cater to all levels of property ownership, from a single villa in France to a European property portfolio.”

Nigel Bond, Sales and Marketing Director , goes on to say “Tonic is creating a centre of excellence through its knowledge and understanding of overseas property ownership – to provide that extra reassurance following a claim, that everything really will be ok.