A Quick Guide to Holiday Let Insurance

We know how important your property is to you, which is why it’s essential to make sure you have the correct holiday let insurance in place.

Knowing what insurance to have can be confusing & not having the right cover can leave you with a large bill if things do go wrong. To avoid unwanted charges & nasty surprises, take a look through our quick guide to holiday let insurance to ensure you have everything covered.

What insurance do I need?

Holiday Home Insurance

Regular home insurance or buy-to-let insurance does not cover you for holiday letting. Holiday let insurance is specifically designed for properties that are let out on a short term basis to paying guests. It’s not a legal requirement, but without this cover you’re vulnerable to costs such as accidental damage to the property or its contents.

Some mortgage providers may also require you to have certain insurance policies in place for a holiday let, so it’s better to be safe than sorry & make sure you’re covered.

Contents Insurance

In a holiday let, it’s not just your building you need to protect. Contents insurance will cover damage to your belongings in the event of a fire, natural disaster, theft or damage caused by guests. Contents insurance can be purchased as a standalone policy or can form part of your holiday let insurance.

Public & Employers Liability Insurance

Public liability insurance is essential in your holiday let. Without it, you may be liable for any accidents that occur within your property. It’s essential you choose an appropriate level of cover, especially if your property poses higher risks (for example steep staircases or low ceilings).

Where public liability is not required by law, employers liability is a legal requirement if you employ even just one person. This includes gardeners, cleaners & maintenance workers . If you employ anyone to help manage your property you must have employers liability insurance to protect yourself against any accident claims.

Am I covered if my property is empty?

Your holiday let is most vulnerable when left empty for long periods of time. During winter you may experience leaks or burst pipes which can go unnoticed in an empty property. For this reason, it’s important to check with your insurance provider if there are any restrictions on how long your property can remain empty without invalidating your policy.

What is Loss of Rent cover?

Loss of rent cover provides protection in the event that your property becomes uninhabitable for a long period of time, for example as a result of a fire or flood. In these circumstances, future bookings will likely have to be cancelled meaning loss of income for yourself. If you rely on this income, loss of rent cover is something worth looking into, to help make up for any money lost.

How much does holiday let insurance cost?

The cost of holiday let insurance depends on which types of cover you choose to take out & what level of cover you opt for. Other factors also affect price, for example contents insurance is calculated depending on the value of items inside your property.

Lakelovers and the Sykes Family work closely with Pikl Insurance and Gallagher Insurance to offer our owners top quality cover that’s tailored to suit holiday homes.

Choose your ideal holiday insurance today!