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Insurance for Holiday Lets.

Holiday letting is a special class of insurance. It is designed to protect the owner of the property against property damage (including accidental damage), damage to or theft of contents and furniture, loss of rent, public liability, employers liability and legal expenses.

It is not uncommon for owners of holiday lets to use home owner insurance to protect their properties. However this is typically inappropriate and may lead to repudiated, reduced or delayed claims payments.

Owners of holiday lets should consider a number of risks when buying insurance including:

Damage or theft of property or contents by tenants.
Alternative accommodation for tenants if the property becomes unfit for occupation.
Travel expenses if the landlord wishes to oversee the repairs and manage the expectations of the tenant.
Risk of injury to the tenant by features common in a holiday property including swimming pools, hot tubs, gym equipment, BBQs and chimineas.
Risk of tenants not securing the property properly.
Risk of damage by pets.
Risk of burglary when vacant.
Risk of injury to someone you may have directly employed to look after the property.
Making sure that tenants are aware they need to arrange cover for damage to their own possessions.
Loss of income as a consequence of property damage being so severe it is shut to guests for a length of time.
Emergency boiler repair.

It is critical that holiday let property owners have suitable insurance in place specially designed for holiday lets. Particularly in today's social media world you will need to be sure that if something does go wrong and your guests' holiday is badly affected, your insurer will react swiftly and decisively to fix and pay for any damage, make alternative accommodation available for guests if required, and protect the reputation of your holiday let as a nice place to stay.

By purchasing a holiday let insurance policy through a broker, you will be properly protected against insurable risks.

Heads of cover typically include:

Buildings
Contents
Rental income
Terrorism
Public and products liability

A good policy will typically cover property and contents damage caused by:

Fire
Lightning
Earthquake
Explosion
Aircraft
Flood
Windstorms
Hail
Acts of terrorism
Riots or civil commotions
Theft (including by tenants)
Malicious damage (including by tenants)
Impact damage
Subsidence
Accidental damage or loss (including by tenants)

The following optional covers may also available as policy extensions or additional policies:

Employers’ liability
Legal expenses
Boiler breakdown
Emergency callout