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Holiday home insurance
Holiday Home Insurance:
What Do You Need to Know?

If you own a holiday home or cottage, then you will need to take specific measures to protect your investment with some form of holiday home insurance. It doesn’t matter whether you simply plan on using the home for yourself and your family or whether you will be letting it out to other people—chances are that you will need specialist holiday home insurance in place to cover yourself, the property, and its contents. So, what do you need to know about this kind of insurance coverage?

Dos and Don’ts of Insuring a Holiday Home

  • Do look at specialist holiday home insurance policies: They have been specially designed to give you the right kinds of coverage.

  • Don’t just take out a standard home insurance policy: Even if nobody will use the holiday home but you, if you do not tell an insurer the truth about the property, then you could invalidate a claim.

  • Do make sure to take out building and contents coverage: Even if the contents of your holiday home are not worth much, you still don’t want to have to pay to replace them.

  • Don’t forget about your legal position: You need holiday home insurance coverage for public liability which will cover your legal costs, especially if you are leasing the property to other people.

  • Do think about accidental damage: If you will be leasing the property to other people, then do take out accidental damage coverage on your holiday home insurance policy. This will give you protection if they break or damage something.

  • Don’t forget about your employees: If you pay an individual to manage the property when you are not there or a cleaner or gardener, then you have responsibilities to them if they have an accident on your property. You may well need to look at taking out employers’ liability insurance.

  • Do look at rent coverage: If you will be leasing your holiday home regularly and will be relying on the income, then look at holiday home insurance coverage that protects you for loss of rent. So, for example, if a fire damages the property to such an extent that you have to cancel bookings, then you’ll be able to claim for the income loss.

  • Don’t forget to read the terms: Make sure to read through the terms of your holiday home insurance policy to make sure that there are no hidden costs or clauses that could cause you problems later. For example, some policies will only give you coverage if the property is inhabited for a certain proportion of the time and some policies will insist on imposing certain conditions when the property is unoccupied such as draining the central heating and having someone check the property on a regular basis.  

Although holiday home insurance works in much the same way as standard home insurance, there will be different conditions and features on offer. Terms will vary from insurer to insurer so it is worthwhile shopping around to find a holiday home insurance policy that suits you both in terms of the conditions and coverage it gives as well as the premium costs it involves.

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