Holiday Let Insurance is essentially contents insurance with extra cover for properties with the unique requirements for short lets. These include cover for longer, unoccupied periods and liability insurance for guests.
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Having liability cover as part of the policy will protect against claims by paying guests against injury sustained while in the property. This cover has a typical limit of £2-£5 million which provides legal cover against claims and is a critical part of the policy.
Some other areas covered by the policy include accidental damage or theft by guests and a loss of income due to the property being unavailable for let. Pay special attention to usage of swimming pools or hot tubs and equipment such as cycles and surfboards to ensure injury to a guest whilst using non-standard equipment is covered by the insurance policy.
The holiday home insurance policy will be specifically designed to cover normal exclusions of a domestic policy, such as cover even if the property is unattended for longer periods of time, which can lead to the increased risk of burst pipes in the winter or burglary. It is advisable to check the policy for any conditions under which the policy becomes invalid, for example if regular inspections or checks are required.
Buildings insurance will cover repair to the actual structure of the property and is more standard in it’s cover, akin to a standard residential policy.
