subject: Holiday Home Contents Insurance [print this page] Holiday home contents insurance your questions answered
Why do I need to insure the contents of my holiday home?
Your Holiday Home will be a valuable asset financially and emotionally, therefore you need to protect yourself from a potential loss. Events that may lead to a claim include fire, burglary, flooding, damage by tenants, burst pipes, subsidence or storm.
How much should I insure my holiday home contents for?
You should insure your contents for their replacement value. The best way to get an accurate figure is to move from room to room adding up all the contents, not forgetting halls, stairs, corridors and outbuildings. Remember that carpets, curtains and white goods such as washing machines should be included within the figure for contents. However, fitted kitchens and bathroom suites are normally insured as part of the building.
What other insurance do I need for my holiday home?
As well as insuring you contents you may wish to insure against lost rent, for example if you are unable to rent your home during peak season following damage to the property this insurance will continue to pay your lost rental income. If you own the property you should insure the building, outbuildings, pool, tennis court, fences, etc. If you do insure the building then make sure you insure for the rebuild cost of the property not its market price.
What are the common pitfalls of holiday home contents insurance?
Many insurance policies will have requirements that should be complied with, common examples include:
Regular recorded inspections of the property.
Water turned off and systems drained if unoccupied for long periods during the winter.
Key operated window locks fitted and in use
Compliance with legal regulations such as fire protection, gas safety, number of residents, etc.
Holiday Home Contents Insurance comes in a wide variety of formats and with vast differences in quality. For reassurance that you are getting the right kind of policy for your holiday home and for explanations of the restrictions then speak to an independent insurance broker who specialises in holiday home insurance.
by: Duncan Sutcliffe
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