Holiday Home Insurance
Holiday Home Insurance for UK holiday homes and European holiday homes in Spain, France, Portugal, Italy, Greece, Republic of Ireland, Cyprus, Bulgaria and many other countries worldwide, insure your second home with a UK insurance company and deal with a UK claims department.
You might have a second home in the UK or a holiday home abroad which you stay in with your family or rent out to others, your need insurance if you let out your holiday home which includes liability insurance so that your renters can get compensation from your insurance for any accidents that are deemed your fault.
For example, someone renting out your holiday home may trip and fall in the shower, if an investigation reveals that you should have had a non-slip flooring then you will be liable for their injuries, with holiday home insurance in place itís the insurance company that will pay out and not you.
Renting Out Your Holiday Home
If your renting out your holiday home, then you can also include rental income insurance so that if the people you are letting your holiday home too cancel and you are unable to get another rental for the same period for example then youíre be able to claim the lost income on your insurance.
With European holiday homes youíre have very different laws than you might be used to in the UK, the insurance you need must meet local legal requirements and the laws around your responsibilities as a home owner and a landlord (Landlord Insurance) will be different than in the UK, even if youíre not renting out your property your still have to deal with different legal practices and itís very easy to accidentally find yourself liable for something, for example your property has a fire and causes damage to a neighbouring property, just what should you do, this might be compounded by not speaking the local language.
With a UK based insurance company youíre have your insurance policy in English which means you can read the policy yourself and see what your covered for without the need for a translator, when you have a neighbour or someone local wanting to make a claim against you, you can simply pass the claimants details to your UK insurance company and they will deal with the claim for you, contacting the individual concerned and communicating with them in the local language.
Legal Cover As Part Of Your Holiday Home Insurance
If you also take out legal cover as part of your holiday home insurance, then any claims against you that end up in a local court where the court proceedings will be in the local language and you wonít necessarily understand what is being said, so your local solicitor paid for by your insurance can handle the case for you and any local language legal documentation that needs to be produced.
With claims handled in the UK you wonít have to fly overseas to deal with an insurance claim like you would with other insurance companies who advertise that they have local language partners in country, but thatís not all that you need, you need your contact to be in the same country as you, in the UK making it easy to phone your claims advisor who themselves will be liaising with an in country legal team so you donít have too.
With your holiday home insurance you want accidental damage, buildings cover and contents cover, the accidental damage will insure you and your tenants against damage to your property for example you or the tenant slip in the shower and break the shower tray causing flooding, with accidental damage insurance as part of your holiday home insurance policy your be able to claim on your insurance for the cost of any local plumbers, plasterers and other trades to repair and make good your shower and any other damage caused by the accident.
Your Tenants Might Not Treat Your Holiday Home With The Same Care Or Respect That You Do
Without insurance, you would be responsible for these repairs yourself, whilst you might think youíre a careful person and unlikely to cause damage, can you say the same for your tenants who might not treat your holiday home with the same care or respect that you do.
With building insurance youíre insuring your holiday home (or second home) for protection against structural damage to your home caused by for example fire, flood or vandalism, so for example if a car crashed into the side of your Spanish villa and caused damage to your villa you would be able to claim the cost of making the building safe and making good any damage to the property, if the property was unsafe and had to be demolished and rebuilt then the insurance company would pay for this.
Contents cover will insure your furniture and appliances and anything else you may have placed in the house, if it is not attached to the house then it is contents insurance, if it is attached to the house then it is fixtures and fittings which is normally part of the buildings insurance policy, with contents insurance you would be able to claim for example for a sofa that got ruined because a burst water pipe (Plumbing and Drainage Insurance) ruined the sofa or if there is a fire, the contents of the home that was lost due to the fire would be replaced by your contents insurance, on the online quote form you can specify how much contents insurance you want, if you have more valuable contents like a very expensive kitchen and appliances you might want more contents insurance, with increased content value comes a higher monthly premium so itís a fine balance between insuring your belongings and having an affordable monthly premiums.
Owners Liability Insurance
Owners liability insurance is included as part of a holiday home insurance policy and insures the owner of the holiday home against claims made against them by members of the public and tenants, for example if your gas boiler exploded (Gas Boiler Insurance) and caused injury to residents, neighbours or passers-by then they could make a claim for injury or damage to their property and even death, with liability insurance you would be insured for any claims up to the limit of liability of the policy.
If you have an unoccupied property (Unoccupied Property Insurance), where your holiday home is not being lived in all the time and you have no tenants who you are letting the property then it will be unoccupied potentially for months at a time, the risk to an empty property is that vandals or thieves might realise the property is empty and steal or damage your property.
Additionally, empty properties are more likely to have fires or floods because with no one living in the house to smell a gas leak and quickly report it before a fire starts or see a water leak and quickly get a plumber these problems are likely to get worse until serious damage results and the problem is noticed by neighbours for example when a ceiling collapse due to a constant water leak from the property above, or when you visit several months later.
Buildings Left Empty Have A Higher Insurance Risk
Because of the almost neglect status of a building that is left empty the insurance risk is higher, so you will pay a higher premium for properties that are left unoccupied if you donít make regular visits to your property, you can get cheaper insurance if your unoccupied property is not in an isolated area or if your apartment is part of a managed building where even though you are not there someone is keeping an eye on the building.
When your using a holiday home insurance specialist, itís an easy claim process, your contacting a UK claims line and speaking to UK staff even if your property is in Europe or worldwide, dealing with local in country insurance agents or UK based insurers that sub contract to local insurers makes it very difficult to make a claim as your dealing with several insurance companies both in country and UK based making any claim far more complicated and longer to process.
With second home insurance or holiday home insurance your protecting your property in case something goes wrong, if youíre not always staying in the property then itís unoccupied with increased risk of damage because you wonít be around to see when problems occur to your home, if your letting your holiday home out then you need to be aware that you need commercial insurance specifically for landlords, so you canít just use a home owners holiday home insurance policy as you are making money by letting the property which requires that you have insurance to protect you against claims of liability, if faulty appliances caused someone you let the house out to, to be electrocuted (Electrical Appliance Insurance) for example then you need a landlord policy that would pay out to the third party.
Holiday Let Insurance
Holiday let insurance might be needed for just the UK (for a UK based property) or a property abroad, you canít take out UK insurance for a property abroad, the insurance policy needs to specifically cover a holiday let abroad as the risks are higher and your premiums will be higher especially if your letting the property out to holidaymakers.
Holiday let insurance companies offering a 24-hour emergency helpline thatís based in the UK make it easy for you to get help as soon as a problem occurs, when a pipe bursts or an angry local is claiming your leaking pipe caused damage to their home youíre be able to speak to an advisor who can handle the case for you, dealing with local authorities for you if need.
Over 50 YouíRe Get Cheaper Holiday Home Insurance
If your over 50 youíre get cheaper holiday home insurance because you are unlikely to be using the house for wild parties, causing damage and having unruly guests at the property, whilst that is a gross exaggeration you can see that insurance for a young person may well lead to increased insurance claims whilst an older person statistically makes less claims on their foreign home insurance.
With holiday home insurance, your insured even if you have not let out your empty property, thatís classed as unoccupied insurance, if the house is empty because a let has fallen through due to bad weather or strikes at the airport (a common enough occurrence for some parts of Europe) then youíre be able to claim for loss of letting income from your insurance company.
Itís not just holiday homes abroad that need insurance but cottages and lets in the UK too, if your leaving your property unoccupied you will need insurance to cover the increase risk of damage and if you have a mortgage on your second property whether at home or abroad then your need insurance as itís a requirement of the mortgage company because if the property is damaged the the mortgage company as the ultimate owner of the property is at risk of losing money if the home owner cannot afford to get the property repaired.
If you ever rent your property out to someone else and not just for family use then your need letting insurance, you can get a quote for short term home insurance or a full year so itís easy to take out insurance when you know your letting out your home for commercial reasons and then have a standard family policy when youíre not renting out the property, of course if you let the property often then it would be cheaper to have a letting policy that will cover you through the whole year, on the quote form state that you want the insurance for both family use and commercial lettings to get both types of insurance for both types of use.
There is a difference between short and long term lets where long term letting requires that on the quotation you specify that the property will be used for long term lets rather than short term, the reason being is that a long term let to the same people will give you a cheaper monthly premium then short term lets to lots of different people, as the more people the higher the risk of damage or a claim on your insurance and one long term let means youíre more likely to have someone who cares for the property as they are living there for longer.