Just as you would take protection for your main residence then so should you give thought to taking out holiday home insurance. However insuring you holiday home is very different from the type of cover you buy on your main property as there are many different factors that need to be considered with a holiday home or holiday let. For example, the property could be left unattended for more than a month at a time.

Considerations

When buying holiday home insurance, you would have to make sure that you have a realistic sum insured. One of the factors which should be given some thought is the rebuilding costs of the property. This is essential as unlike your own home, you have no control over what the people do within the property. They could, for example, smoke, and be careless. If your holiday home was damaged by fire, then the cost of rebuilding and removing the rubble would come to hundreds of thousands of pounds.

You also need to ensure that other items such as outbuildings and, if you have one, a swimming pool, are covered.

Index linked cover

When looking for insurance check to see if the cover is index linked. This means that inflation would be taken into account. Another point to consider is that if you make improvements to the holiday home, you do then need to let your insurer know so that you policy can be adjusted accordingly.

Contents insurance

You would also need to come to an estimate as to the contents of the holiday home. This means going around the property and calculating all the items within it. Do not forget to count items such as pots and pans and cutlery. Even the smallest of items should be included as they can soon add up if you had to replace them.

Rental income cover

When comparing the cost of insurance for your holiday home check to see if the insurance policy would pay out for loss of rental if the property should be damaged and become uninhabitable for a while. You could lose an enormous sum just in letting costs if you were unable to let it out while rebuilding or repairs were taking place.

Accidental damage cover

Other things to look for in your holiday home insurance include accidental damage to either the contents in the holiday home or the building itself. Some insurers will provide this cover. It can make sense to take photographic evidence of the goods, including serial numbers where available, so that in the event of claim, you have everything you need to hand.

Also check for any exclusions and limits on certain items as all insurance providers offer different terms. Liability cover could also be included in your insurance. This would pay out in case any of the guests are hurt while staying in your property. Always read the small print that comes with the policy to ensure that you know exactly what the cover entails so there are no nasty surprises if you have to make a claim.



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