Holiday homes in the UK call for a special type of property insurance.
The product in question is appropriately enough called UK holiday home insurance and is specially tailored to suit your use of the property as a second home.
Why such a specialist form of UK holiday home insurance is necessary is described in some detail in our article posted on the 5th of May 2018 explaining why you may need the cover.
So, if this is the insurance you are looking for, how do you go about obtaining the most suitable cover?
Rely on the experts
According to a story in the Telegraph newspaper last summer, as many as one in ten Britons own a second or holiday home – that’s an estimated 3.4 million people.
Not only are there numerous holiday homes dotted around the country, however, but there are many different types of property fitting that purpose – and some may be used solely as the owner’s holiday home, also used to accommodate short-term tenants during holiday seasons, or even left empty and held as a longer-term investment.
UK holiday home insurance, therefore, needs to be tailored to suit each one of these different types of holiday home and the uses to which the property is put. The insurance needs to recognise whether it is a second home for the exclusive use of the owner, a holiday home that is also occasionally let to tenants, or a property that stands empty for most of the time.
Matching your particular needs and circumstances to the appropriate UK holiday home insurance, therefore, may call for the experience and expertise of a specialist broker – such as ourselves here at Cover4LetProperty.
Just as the British Association of Insurance Brokers (BIBA) points out, our role as an independent broker means that we put your interests first and foremost, looking for the most suitable insurance cover at a competitive rate, to ensure that you receive good value for money.
Keep every angle covered
With a UK holiday home, finding the appropriate insurance means ensuring that you keep every angle covered:
The building and its contents
- central to that cover, of course, is protection of the building and its contents against such major and potentially disastrous risks as fire, storm damage, flooding, escape of water, impacts, vandalism and theft;
- it means anticipating a worst-case scenario in which the whole property is destroyed and needs to be rebuilt, with the total building sum insured equivalent to that cost;
- it also means the provision of cover during those times when your holiday home may be let to paying tenants;
- there are different risks when the property is occupied by tenants rather than yourself – not least your liability as a landlord in the event of one of them being injured or having their own property damaged and claiming against you for compensation;
- your UK holiday home insurance needs to indemnify you against those liabilities as a landlord;
Unoccupied property insurance
- holiday homes in the UK are likely to spend significant periods of time when they are unoccupied – either by you or by short-term tenants;
- recognising the special risks associated with an empty property, UK holiday home insurance also covers such periods.
Whatever kind of holiday home you own in the UK and however you intend to make use of it, therefore, a specialist provider of this distinctive insurance product is well-placed to help you find the most suitable cover.
Further reading: Guide to UK Holiday Homes