Holiday Let Insurance

Whether your holiday rental is a listed building with historic features, or a modern masterpiece filled with state-of-the-art technology to keep your guests entertained, it’s important to protect the valuable assets that make your property unique with holiday let insurance.

Many standard household insurance policies have limitations and restrictive conditions making them unsuitable for short term, rental properties.

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Here are some important considerations:

Accurate Valuations
It is essential to obtain accurate valuations of your property and its contents. As the market changes and your assets increase in value you may find yourself underinsured, therefore in the event of a claim your pay-out would be less than the replacement cost. Insurers will carry out property appraisals, sometimes free of charge, or our brokers can recommend solutions.
Occupancy Limits
Occupancy Limits on your current policy may be much lower than the number of guests your property can accommodate, leaving you without cover if an incident occurs while your property is ‘over occupied’.
Unoccupancy Clause
You need an unoccupancy clause that’s fit for purpose, as many standard policies will only cover unoccupied properties for a short period of time. You may have bookings all year round, however it’s important to consider if you would still be covered in the event of cancellations. Holiday home insurance usually requires regular internal and external inspection of unoccupied or unfurnished properties. Inspections should be recorded in a log and it is the owner’s responsibility to ensure that the property is suitably secured according to insurer’s specific requirements. Our specialist brokers will be able to advise you on these terms and conditions.
Public Liability Insurance
It is essential to protect yourself from potentially costly personal injury claims as a result of any accident or injury impacting guests staying in your property. You should also ensure your policy has sufficient cover for Accidents to Domestic Employees, including maintenance staff who may only attend the property periodically.
Parties
If your property is being let for Hen and Stag parties, and other large get togethers such as weddings it’s crucial to ensure that your insurer is aware so you can be given the correct cover.
Listed Buildings
Listed properties often require specialist builders and craftsmen to sympathetically repair and restore the property, so it’s paramount your policy will cover these more costly repairs and the longer loss of income period whilst the work is being carried out.

What’s usually covered?*

Buildings

Building insurance will provide cover for your holiday home up to the limits shown on your policy schedule. Cover is provided for any holiday home for damage or destruction caused by an insured event such as fire, flood and theft. You may have the option to extend cover to include accidental damage to buildings.

Holiday home insurance can cover the private dwelling, outbuildings and garages listed at a specified address. It will protect the structure and should include the fixtures, fittings and built in appliances attached to the holiday home.

Underground services such as sewers, pipes, cables and drains which connect to public mains can usually be covered if accidental damage is included.

If the sums insured are adequate unique property features such as swimming pools, hot tubs, tennis courts, septic tanks, solar panels and water features can be protected. It is important to notify your broker of any unique features to ensure they are appropriately protected.

Any building works undertaken should be notified to your broker in good time before any works commence so we can arrange appropriate coverage.

Wear and tear on a building will not be covered and homeowners are required to maintain their properties to a good standard.
Loss of Rent or Income

Covers loss of income if you can’t let your home due to damage covered under your building insurance.
Holiday Home Contents

Cover can be provided for holiday let contents. This can include Accidental Damage to Electronic equipment such as televisions, audio equipment, gaming consoles, computers and other items. These will be covered up to the value listed on your policy schedule.

Replacement Locks should these need to be fitted in the event of theft or loss of keys.

Loss of Oil or Water.

Holiday Home removals should loss or damage occur to your contents whilst being removed.
Accidents to Domestic Employees

Protects homeowners should they become legally liable to pay damages for any bodily injury and damage to property of domestic employees.
Legal Liability to the Public

Protects homeowners should you become legally liable to pay damages for bodily injury or damage to property causes to the public.
Legal Expenses

Provides financial compensation to help holiday home owners cover the cost of legal advice and legal proceedings. Sections of cover may include action taken in relation to the sale or purchase of a property, personal injury, employment disputes.

*The terms and conditions of holiday home insurance policies vary. Limits of cover for each section of insurance will be shown in your policy schedule. The policy wording and schedule will specify the terms and conditions of the cover provided by a specific insurer, including any warranties and endorsements specific to the risk. You should read your policy wording and schedule carefully.

FAQs

Do you need public liability insurance for a holiday let?
While not a legal obligation, public liability insurance is a crucial safeguard for anyone letting out a holiday property. It helps protect you from potentially devastating financial consequences if something goes wrong.
We strongly recommended Public Liability insurance and it is often contractually required by holiday letting platforms or agencies. Many holiday let agents will specify a financial minimum for cover required.
Homeowners can protect themselves against any financial losses they could incur for legal costs and compensation if a guest is injured, falls ill or suffers damage due to a property owners negligence. Holiday lets that have specialist amenities such as hot tubs and water features can present an increased risk of injury making Public Liability insurance even more important.
How much does insurance cost for holiday letting?
The cost of holiday let insurance will vary depending on several factors:
1. Property Type & Size: Larger or more luxurious properties typically cost more to insure.
2. Location: Properties in high-risk flood zones or areas with historical subsidence may have higher premiums.
3. Frequency of Guests: More frequent bookings can increase risk, raising the cost.
4. Amenities: Extras like hot tubs, pools, or fireplaces may sometimes require additional cover.
5. Level of Cover: Comprehensive policies including accidental damage, and loss of rent will cost more than basic cover

GET A QUOTE

HOLIDAY LET Insurance

Here are some important considerations:

What’s usually covered?*

FAQs

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HOLIDAY LET Insurance

Here are some important considerations:

What’s usually covered?*

FAQs

Our other insurance products related to: Private Clients

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