Life is full of unexpected events, and we all know how important insurance is to help protect us against the financial damage of life’s twists and turns. With that in mind, here are a few points to consider when thinking about insurance for your holiday home:
First of all, make sure your insurer knows that you are letting out your property, and not just visiting it yourself or letting friends stay there. This could mean you need a different type of insurance; you don’t want to risk finding out your insurance is invalid just as you need to make a claim.
If your holiday home is targeted by criminals, ensure you report the incident to the police and get a crime report number as soon as possible to avoid any issues when it comes to claiming on your policy.
For your own safety, and the safety of anyone who stays in your property, it is very important to get your gas appliances and flues checked annually by a CORGI registered engineer. This precaution could protect you from the potentially disastrous effects of a gas leak, and could save you making a big claim on your insurance.
To protect yourself from being held legally responsible for any injuries incurred by guests staying in your property, ensure you have public liability cover. You want a minimum indemnity limit of £3-5 million, and if you have a swimming pool ensure that injuries experienced there are covered too. Of course, as a responsible property owner, you will ensure your holiday home is kept in as safe a condition as possible, but it is important to prepare for any eventuality.
You should ensure your insurance includes cover for accidental damage and theft, to provide you with total peace of mind as you sit back and let your property earn you money.