HOLIDAY HOME INSURANCE
PROTECTS YOUR VALUABLE
ASSET AGAINST THEFT
Why insure your holiday home?
Your holiday home is a place to relax but it’s also a valuable asset — in some cases, it may be even more valuable than your permanent residence, so holiday home insurance is a must.
Therefore, regardless of whether your holiday home is a weatherboard shack on the beach, a ski lodge tucked into the mountains or a country home surrounded by sprawling hills, you need to ensure that your investment is properly covered, particularly if you are making your holiday home available for short term lets. This also includes both paying guests and making the house available to family and friends.
Eastern Equity Insurance Brokers provides comprehensive insurance cover for your holiday home so that you have peace of mind that you are covered for the building and its contents.
Get in touch with us to find out more about protecting your valuable holiday home asset.
What does holiday home insurance cover?
Holiday home insurance covers your property and the contents for many of the same things as a standard home insurance policy, e.g., theft, fire, flood storm damage, subsidence, etc.
A standard home insurance policy will not be sufficient for a property that is being let out on a commercial basis.
It is generally the case that cover for the buildings and contents will be combined in a single holiday let insurance policy, although it is also possible to arrange separate cover.
It is also possible for holiday home insurance to cover loss of rental income.
Loss of Rental Income Cover
Building insurance covers the structure of the property, including damage to fixtures and fittings such as the roof, walls, floors and ceilings, as well as damage to the kitchen and bathroom. Insurance should also provide cover for other structures on your property, such as garages and sheds.
The policy should also include cover for damage that is caused by tenants and pets.
However, general wear and tear to the property will usually not be covered as part of a holiday let insurance policy.
Contents insurance covers the furnishings in your holiday home, such as sofas, beds, curtains, blinds, carpets, other soft furnishings, electrical appliances, etc., against tenant damage, loss or theft. Appliance breakdown generally won’t be included.
Cover will also include protection against fire, flood, explosion, storm damage and rain damage.
However, it should be noted that most policies will not cover the possessions of paying guests.
Loss of Rental Income Cover
There can be circumstances that mean your holiday home is unable to be rented out, and so you suffer a loss of rental income as a result.
You can take out cover to protect you against loss of rental income as a result of issues such as the death of a tenant, failure to vacate by tenants, or circumstances arising that could mean there is no access to your property, or it becomes untenantable.