Holiday homes can be a great investment as they provide an easy option for a holiday 365 days of the year. Many people think that holiday homes are easy to insure as they aren’t lived in as much. They are however considered very risky by insurers. A holiday home can be vacant for long periods of time which creates further issues. Theft is often more likely in an unoccupied house and visitors to a holiday home do not take as much care as the owners.
Therefore you will need an insurance cover specifically for second homes or holiday homes. A normal landlord insurance policy will not cover you and would not pay out in the event of a claim.
Most holiday homes cover all risks from a standard policy but include periods where the home is vacant or family and friends are in the premises.
Cover for second homes or holiday homes can vary depending on the insurer. It is important from our point of view to know exactly the cover that you need.
The policy would include accidental damage by anyone occupying the property.
Some insurers will include a 24-hour emergency helpline if you need help in a domestic emergency such as a burst pipe.
If the property is uninhabitable after a flood or fire it is comforting to know that the insurer will cover your loss of income. Most insurers, however, will only look to cover the loss of pre-booked income. They cannot recover income if there were no bookings lost.
Insurers will cover the cost of placing your guests in alternative accommodation if the property is uninhabitable due to unforeseen circumstances.
A holiday home is more vulnerable than your own home. Mainly due to the risk of multiple vacant periods. It is not a standard risk so you should speak to us regarding what cover you need.
Request a call back if you would like a quote for your second home or holiday home.
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