Holiday Home insurance UK & Abroad
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The holiday home insurance policy is there to help provide peace of mind for a hard working family who has invested in a special place to get away from their daily routine. With this type of financial protection in place leaving the holiday home unoccupied for a month or more can be nearly worry free.
What is holiday home insurance?
This type of cover is specifically designed to protect a home that is not used as a primary residence. Since holiday homes are left unoccupied for periods of time they are considered higher risk than a standard home that is a primary residence.
Just like a standard homeowners policy, the holiday home insurance policy is broken down into two primary categories.
To help reduce the risk associated with holiday home insurance valuable items that are mobile or easily moved should be removed from the home when the place will be unoccupied for any lengthy period of time. These items can include TVs, stereos, countertop microwaves and like items.
Why won’t a standard homeowners policy be valid for my holiday home?
In most standard home insurance policies a statement by the owner must be made declaring it their primary residence. Also included in most standard home policies is that any damage that occurs when the home is unoccupied for more than 30 consecutive days will not be covered.
Can I rent out my holiday home and still be covered by this type of insurance policy?
Yes, letting out your holiday home can occur, but this should be declared when taking out the holiday home insurance policy. The reason for the declaration is so the insurance agent knows you will be letting out your place and can assign the appropriate level of risk to the policy. Homes that are rented to others are considered higher risk because most renters do not care for another person’s property as they would their own. If you intend to let out your holiday home, your brokers must be informed, unless you opted for that option when initially taking out your holiday home policy. The policy will be then changed to buy to let insurance UK.
How can I reduce my risk with a holiday home insurance policy?
Reducing risk is possible by properly preparing the holiday home for being unoccupied for a period of time.
It would also be beneficial if a neighbour or local property manager would periodically check on your holiday home. This makes it possible to know about damage to your home from a storm without being there. By letting them know when you will not be in your holiday home, they will know if there are intruders and can call the police if there is activity there.
Are there any optional add-ons available for holiday home insurance?
Yes, if you need more than what is available in a standard policy then several options can be added to the policy.
Accidental cover is the most common add-on. This will cover damages from sources not already covered including the rare occurrence of someone driving their car into your home. Yes, it does occur. This is also protection when your holiday home is rent to a third party. The damage they do to your home or its contents will then be covered.
Public liability cover is protection if there is a claim of injury or damage being blamed on you or your property is involved.
By having the right level of holiday home insurance you need will contribute to giving you peace of mind when you are in your primary residence and so you can enjoy your home away from home for years into the future.