Many people in the UK have a second home or property used for holidays and breaks away from it all. As a home in its own right, many think standard home insurance is enough to protect their second property, but this often isn’t the case. Holiday homes require unique holiday home insurance cover, as there are caveats to second homes which differ from your main property.
Standard home insurance usually excludes properties which are empty for 30 days a year or more. In the case of holiday homes this is almost always true which is why specialist holiday home insurance is necessary.
Holiday Home Insurance Cover
Holiday home insurance should provide the same protection as regular home insurance. Buildings cover will protect you against the cost of repairs and rebuilding should it be damaged due to fire, storm, flooding and/or related subsidence. Holiday home insurance policies may also include:
- Emergency helpline and travel cover
- Personal possessions cover
- Contents cover
This is the case both abroad and in the UK. Be aware costs of premiums will vary dependent on the location of your holiday home.
It is important to look closely at policies as holiday home insurance often have exclusions. These include exclusions for properties which are on long-term let, have solar panels and those which have watercraft or boats within the boundaries of the home.
Holiday Letting Insurance
Things change for your holiday home if you let it out when not using it yourself. If you’re planning on letting your property then you’ll need further elements to your holiday home insurance. These include covers such as public liability protection, protection against loss of rent and accidental damage cover. You may also want additions such as alternative accommodation cover should an emergency situation occur and employer’s liability insurance if you employ people to work at the property such as cleaners, concierge or similar.
At Just Quote Me we work with many different property owners. We recognise holiday home insurance can be confusing for homeowners and we’re only too happy to help. Get in touch today to discuss your circumstances and cover options.
The high footfall in the average B&B makes them relatively risky businesses to run. Guests come in and out all the time, cooking and cleaning is a constant process, so as a B&B owner, you have to be aware of risk. Quality and comprehensive B&B insurance is designed specifically to cover your business against risk. What level of cover do you need and what elements should you policy incorporate? We’ll look at that in more depth below.
Insuring your Great British Bed and Breakfast
The Bed and Breakfast is a British tradition and has provided a steady income for many for years. It is possible to get B&B insurance for both licensed and unlicensed premises although the requirements are a little different. Importantly though, do you know what types of cover should be incorporated in your B&B insurance? B&B owners should definitely consider:
Public Liability Insurance
This protects you and your business against compensation claims made by members of the public. Claims are usually for injury or damage to property which the claimant blames on your business. It would cover your business if a guest were to trip over for example.
Business Buildings and Contents Insurance
Even if your B&B is also your home, you should update your buildings and contents insurance to reflect its business status. It will protect your business should there be a burglary, fire or flood.
Employers’ Liability Insurance
All businesses which employ staff must have employers’ liability insurance. It is likely your B&B employs at least some staff members, so this type of insurance is compulsory. It protects you and your business against compensation claims made by employees and former employees. Not having employers’ liability insurance in place can result in large fines.
B&B owners may also want to consider more specialist insurance cover such as business interruption cover and you can discuss your individual needs when you contact Just Quote Me. Our professional insurance specialists can talk through your options with you.
Just Quote Me can provide you with a range of B&B insurance quotes, allowing you to decide which is best for your needs. Contact us today to find out more.