Your Holiday Home is a real asset and whether it is for your own personal use, or let as an investment, it is essential that you protect it from the unexpected with holiday home insurance.
Holiday home insurance is particularly important as most insurers won’t cover your property under a standard policy.
To get a no obligation holiday home insurance quote, please complete the Get a Quote form or give our team a call on 01926 454 349 and receive cover in just a few minutes.
To help you understand the value of holiday home insurance, here are some risks against which it helps to protect homeowners.
If you own a holiday home, it’s smart to make sure that it’s protected against fire and other accidents. Since it’s your second home and you’re not there every day, it’s wise to make sure the value of the policy is enough to cover its rebuilding.
If you leave furniture and appliances in your holiday home, it’s a good idea to invest in contents insurance too. Consider how much it would cost to replace these items in case of damage or burglary to arrive at an adequate sum insured.
Moreover, your holiday home may be at risk from weather (for example, storm damage to the roof), as well as break-ins and burglaries. Standard holiday home policies cover you against theft or break-ins, and you can add accidental damage cover for an additional premium.
Since holiday homes are left empty more often than standard homes, there is a higher risk of them being broken into. Installing an alarm and other security precautions may help with getting insurance and are a requirement with some insurers.
If you would like to get insurance for a second home, it’s not enough to just buy a standard home insurance policy after all, this house isn’t your main home. A standard home insurance policy would not provide sufficient cover for a holiday home due to the differing risks, risks which can vary by insurer.
That’s why you need holiday home insurance. Consider the matter from the perspective of the insurer. Insurers usually see holiday homes as a more significant risk – simply because they’re left empty for lengthy periods of time.
Another risk insurers consider in this situation is the fact that the owner isn’t around regularly to check for any damages, for example, those caused by exposure to elements like intense rain or snow. For instance, if the roof slates of the house are blown off in a storm or a frozen pipe bursts during winter, the problem can escalate quickly without anyone even knowing about it. When the owner discovers it, it might be too late and the expenses incurred by the situation can become really high.
Note that most standard insurance policies exclude properties that are left empty for more than 30 days at a time. Now you can begin to appreciate why insurers treat holiday homes differently to other types of property.
Moreover, if you rent your house out to guests who pay you, there’s a potential risk of accidental damage. You need to protect yourself against that risk. That’s why you need to consider a specialised holiday home insurance policy that not only covers the occasional use, but also holiday letting.
If you’re considering purchasing holiday home insurance, there are some things you need to consider first.
Is your holiday home mortgaged? Then it’s best to get a buildings insurance cover as part of your holiday home insurance to make sure that your mortgage company is satisfied.
Do you rent out your holiday home to paying guests? Another element to consider is public liability insurance that comes as part of your holiday home policy. That type of cover protects you against events such as a guest tripping over a rug at your house and holding you liable for their injuries.
Let’s not forget that a holiday home is at risk from weather-induced damage (think storm damage to your roof), accidental damage, as well as break-ins and burglaries. Most standard policies usually cover against theft or break-ins. But consider adding accidental damage cover as well.
When buying holiday home insurance, make sure to consider other extras as you would with a standard house insurance quote. For example, you can add a home emergency cover which provides you with a number to call if you urgently need a plumber or other expert to help you solve a problem at your house. Moreover, you can add legal assistance that protects you against the potential costs of being sued or making a claim against someone else.
What makes it different from your first home is the amount of time it can be left unoccupied, with a standard policy only allowing for up to 30 days. Unoccupied properties are more at risk of water leaks, burst pipes and theft, making them a greater risk.
There are several types of home insurance you may consider when purchasing holiday home insurance.
For example, if your property is of a high value, consider buying insurance which is designed to address the challenge that comes with insuring a high-value property with contents that are valued over £100,000 including fine art, collectibles, and fine jewellery. Get your home the insurance it deserves.
Another popular type of home insurance is home flood risk insurance. If your home has been flooded before or you know that it is at risk of flooding in the future, it might be difficult to find a cost-effective cover under such circumstances. That’s why you should seek a specialist insurance policy which deals with situations similar to yours.
Consider unoccupied home insurance as well. After all, you probably spend far less time at your holiday home than you do in your main home. If you’re not renting it out to paying guests and leave it empty for long periods of time, this insurance is one you must consider.
Is your holiday home currently under construction? You still need to insure it – even when it’s only in the construction stage. When building a property, the last thing you may feel is needed is insurance cover for your new home. But it’s wise to get under construction home insurance to protect the building against some common non-standard risks that come with homes under construction.
The majority of the time, holiday home insurance policies will include cover against accidental damage, as well as malicious damage and theft. If you rent out your home to paying guests, don’t forget to purchase public liability and legal cover as well. These come in handy in case one of your guests makes a claim against you. Remember that holiday home insurance can cover everything including the building and its contents.
We can arrange cover for all of your Holiday Homes, including buildings and contents, from our carefully selected insurers, chosen for their knowledge in holiday home insurance and properties abroad.
*All features and benefits are subject to eligbility and underwriting criteria.
To view the full FAQs for Holiday Home Insurance please click here.