UK Holiday Home Insurance. If you are looking for a no obligation quotation for UK holiday home insurance, ring us on the telephone number above or submit your request by clicking on the quote button. The insurance policy can help protect most types of holiday properties including barn conversions, holiday villas, holiday cottages, static caravans and timber chalets. In addition, the insurance policy also covers home owners who wish to leave their holiday property empty or unoccupied, or because of tenancy void periods between lettings.
The huge growth in demand for UK holiday homes in popular hot-spots such as Cornwall and Devon is changing the demographics of UK coastal towns and villages. Despite a fluctuating property market in South West, property prices remain stubbornly high. Consequently, there has been such a surge in second home ownership in the United Kingdom, as many properties that were once used as residential dwellings are now classed as ‘holiday homes’ by local councils and insurance companies. When the usage of the UK home changes, you must inform your insurer. They may wish to change the terms and conditions of your existing insurance policy or even insist you take out a completely new UK holiday home insurance policy instead.
In the UK, mortgage companies require that adequate buildings insurance is put in place, prior to any mortgage application being accepted. So if you are considering buying a UK holiday home, you will need to know what the rebuilding cost is. Our policy automatically provides cover for up to one million pounds for the building sum insured.
Perhaps you have just converted an old barn or turned an old cottage into a holiday let or into a bed and breakfast establishment. If so, you will need to clarify what your intentions are with your current insurance company. Firstly, as most UK holiday homes are left empty a lot of the time, there is an increased risk of burglary, squatters, water damage from burst pipes, vandalism and maintenance issues going unchecked. These additional risks are substantially reduced in a traditional residential dwelling that is occupied. This is the main reason that the annual premiums on UK holiday home insurance policies are generally higher. There are of course other factors that can increase the price of an insurance policy. For example, many UK holiday homes are generally located in very desirable postcodes. As a result, price may go up if that postcode happens to be in a floodplain or has a history of a high number of insurance claims.
The financial cost of some risks can be devastating. Most basic buildings cover pays for the loss of, or damage to your UK holiday building caused by fire, theft, storm, flooding, explosion, lightning, earthquake, fire, smoke, riot or vandalism (plus many more). If you are generally a risk averse person, it is usually possible to purchase additional covers upon request. But here the knowledge and wisdom of a traditional insurance broker is invaluable. For example, many UK holiday homes are are also thatched properties. This makes securing insurance even more tricky, as many providers do not like insuring buildings where the roof can easily catch fire. So, a broker can help to explain and interpret a range of endorsements and exclusions within the policy. Policies will specifically exclude certain types of events or risks. In the context of thatched property for example, the insurer may insist that certain maintenance and repairs are undertaken by the house holder, to minimise the potential risk of fire.
As a UK holiday home owner, you naturally want the confidence reassurance that any insurance claim you submit in the future will be paid out. This sounds like an obvious statement to make, yet many disputes arise between policyholders and insurance companies regarding an ongoing claim. So it is worth investing the time reading the policy wording and seeking qualified professional insurance advice, before comparing any policy. For example, check the excess limits on buildings and contents before any claim can be made. Some insurance companies may allow you to adjust your excess limits in order to influence the premium. This can be a risky strategy, if you are unsure of the likelihood of an event actually occurring. For example, if you are planning to buy a picturesque riverside holiday home, (that has had a history of flooding in the past), speak to an insurance company to see whether you could actually obtain buildings cover at all! Some insurers look more favourably on policyholders who are prepared to invest money in practical flood prevention measures.
As most landlords on uk holiday home lettings will furnish the property, the contents covers of the insurance policy are quite important. Unfortunately, many accidental breakages occur within rented holiday homes, leading to insurance claims. Therefore, pay particular attention to what is covered and under what circumstances. For example, nicely furnished UK holiday homes may include a TV and satellite system, white goods, good quality furniture and gardening accessories. So compare your inventory list against the policy to see which items are covered and specifically excluded. Many single article limits on valuable items (such as jewellery), may be capped. Note also that optional holiday home insurance cover, is usually only available when the property is occupied by the owner (unless otherwise specified). Lastly, contents insurance cover does not usually include the costs associated with maintenance issues. So, as a landlord makes sure you know which optional extras you might need (such as repairing boilers, unblocking drains or fixing a central heating system)
If you are planning to rent a UK holiday home, you will almost certainly need to make sure you have some form of public liability insurance included within your policy. The purpose of this section of the policy is to indemnify you against sums for which you may become legally liable, should a tenant or third party become injured or harmed within your property. Public liability insurance is a complex area, with strict limits on the levels of indemnity and clearly defined exclusions.