Holiday let insurance is a specialist type of protection. If you have a second home in the UK which you also use for holiday lets, then the traditional residential home insurance or buy to let insurance will not be appropriate. This is because, as with mortgages, this is specialist circumstances which require specialist cover.
The differences may include:
- your holiday let property will have periods of un-occupancy that may be more frequent than with a buy to let property that has longer term tenants
- it is more obvious to a burglar that a property is being used for holiday purposes
- a holiday property is usually furnished to a high standard which again makes it more attractive to burglars
- being furnished to a high standard means there is more for holiday makers to damage
- a second home is more likely to left empty for long periods, meaning there is a greater chance of a burst pipe or a water leak going unnoticed
- you are likely to employ the services of people such as pool cleaners, domestic cleaners and letting agents who will visit your property – you need to ensure that you have adequate employers liability style insurance to cover these types of visitors