Insurance for Your Holiday Rental Business
As the staycations in the UK continue to be a huge success, owning a holiday cottage is very rewarding and a worthy investment – but it is still important to protect this from risk. You’ll need holiday let insurance that keeps everything you rely on, covered.
Holiday let insurance is a specialist form of cover for your holiday home/cottage. This will cover multiple elements that average home insurance generally wouldn’t cover. It should include the following policies:
Holiday Let Building Insurance
Any property is a huge investment, so you’ll want to cover this asset. If it is subject to any damage, your building insurance can cover this.
The right buildings insurance policy will cover the main structure of your holiday cottage, including the walls, ceiling and roof. It will also cover permanent fixtures and fitting like the kitchen, bathroom suite and if you have a swimming pool – this too! This cover is in place in case of events such as flood, fire, freak storm or burst pipework.
This insurance is different to regular buildings insurance as it will cover properties that are unoccupied for more than 30 days, as they are at greater risk.
Holiday Let Contents Insurance
Furnishing your holiday cottage to a high standard is valuable for the business, but damage by guests can often be unavoidable. The best policies will cover this damage by guests, as well as covering possessions due to theft, water damage and fires.
The contents insurance is optional, but without this, you risk having to pay for expensive replacements out of your own pocket.
If you allow pets, you should also check if the damage they can cause will be covered by your insurance.
Public Liability Insurance for a Holiday Let
Public liability insurance is essential for a holiday lettings business. Without this cover, you can face very large legal costs if any of your guests suffer an injury at your holiday cottage.
Having public liability insurance in place means you are protecting yourself if a guest slips, falls, or has an accident. You will more so need this cover if you have hot tubs or swimming pools, as accidents are more likely to happen here.
Each holiday cottage may require different types of cover – so it is best to speak to an insurer who can tailor your holiday let insurance to suit you.
Our team at BIS Insurance can guide you through the process, and make finding the right insurance stress-free and efficient. Contact our team to begin your enquiry.
