What is the difference between standard home insurance and holiday home insurance?

Your holiday home insurance differs from your home insurance for your main residence, mainly because the chances are it will be unoccupied for potentially long periods of time. This increases the risk of burglary or damage to the property caused by the weather or issues such as a leak. If you are not there to keep an eye on it, then these issues could become costly. All insurers differ, so it’s vital to check the terms of your policy, which, for example, might allow the property to be unoccupied for up to 30 days before your cover is affected. To prevent this, you may decide to let your property to holidaymakers. This means you will need public liability insurance.

Types of cover to consider 

When it comes to insuring your holiday home, there are several types of coverage you should consider:

• Buildings insurance
  This covers your holiday home's structure, including walls, roof, floors, and fixtures, providing financial aid for damage from events such as fire, floods, storms, or subsidence.
  
  
• Contents insurance
  Contents insurance covers the belongings you keep inside your holiday home, such as furniture, appliances, electronics, and personal items. It protects against theft, damage, and loss.
  
  
• Public liability insurance
  This is important in case someone is injured, or their property is damaged while on your holiday home's premises. This coverage helps with legal expenses and compensation if you're found liable.
  
  
• Loss of rental income insurance
  If your holiday home becomes uninhabitable, this coverage can compensate you for the loss of rental income during the repair period.
  
  
• Home emergency cover
  This type of coverage provides financial support for emergency repairs, such as fixing a burst pipe or a broken window.
  
  
• Legal expenses insurance
  If you find yourself in a legal dispute related to your holiday home, this coverage can help with legal fees and related costs.

Things to do when insuring your holiday home 

•  Valuation 
  Find out the value of your home and its contents. It’s important to be honest and transparent with your insurer. The value of your contents will be covered up to a certain agreed-upon figure.
  
  
• A good broker
  Talk to your broker about your requirements and let them do the hard work of finding the right policy that best suits your needs.
  
  
• Decide on the level of cover 
  Make a clear decision, weighing up the cost of your premium against the potential significant expenses if you're not covered.. You may decide to opt for add-ons for extra protection.
  
  
• Get to know the terms of your policy 
  It’s vital that you know the terms of your policy. If you are ever in doubt or need clarification on the details of your policy, simply get in touch with your insurer.
  
  
• Communicate with your insurer 
  If there are any alterations to your property or if you think your property will be vacant for longer than the terms permitted in your policy. It's important to contact your insurer.
  
  
• Keep your receipts
  It’s important to keep your receipts or photographic evidence of your furniture or other contents. This will make the claims process smoother.
  
  
• Your annual review 
  Remember to review your policy annually before the renewal date.. Get in touch with your broker if you are looking for a better deal.