Time to think about Holiday Home Insurance
Once you have purchased your holiday home, it is time to think about holiday home insurance. Insuring your holiday home is vital for your peace of mind and to ensure that you don’t end up paying out large sums of money. However, there are some points to consider when you’re buying holiday home insurance, including whether you will be letting it out or not.
It may be wise to look for a specialist insurer who offers policies specifically for holiday homes. This is particularly important if it is going to be a holiday rental for some of the time and you need cover for accidental damage by guests, or injury to a guest in the home. The key is to make decisions in advance and then take all the details to the insurer.
Holiday home insurance & letting the property
You will need to decide if you are going to go for short-term or long-term rentals. For example, if you just get a standard home insurance policy and you decide to let the property, you may invalidate the terms of the insurance if you let it out for short-term rentals.
If you decide to use the property for long-term rentals then it is worth looking at a specialist Landlord insurance policy. This type of insurance not only covers you for damage, it also protects you against loss of rent.
An unoccupied property
If you are not living in your holiday home for several months of the year, it is important to ask the insurer about this. The reason being that some insurers have a maximum time limit on the amount of time a property can be left empty and still qualify for cover. You may have to shop around a bit to get exactly the period of time you want, but it is better to be covered than hope for the best.
Finally, when you are choosing the policy, don’t forget to take into account all the property’s features, such as a swimming pool, and all the potential liability risks, which are most relevant if it is also used as a rental. Always make sure that the policy covers everything you need and if you have any queries about a policy, ask the insurer if they can alter it to fit your requirements.
Once you have holiday home insurance, you can really kick back and enjoy knowing your holiday home is protected come what may.