Your holiday home is a place of respite from the world. However, getting insurance for you vacation getaway is not as straightforward as it seems.
Holiday home insurance is generally tougher to get because the home itself is only lived in for part of the year and may be poorly maintained. Plus, a guest who might cause damage to the home can become a complicated issue. While these are certainly reasons for getting holiday home insurance, they are also why it is more difficult to obtain.
However, there are a number of steps you can take in order to find the right holiday home insurance for your needs. Your efforts should start with examining the different holiday home insurance policies offered by different insurance companies. Also, if you have family or friends that use holiday home insurance, ask them about their policies, what they cover, and the expense.
Holiday Home Requirements
In obtaining holiday home insurance, you may have to meet certain requirements in order to get the policy you want. What follows are some of the potential requirements needed to obtain the insurance policy that best fits your needs.
Inspections: The insurer you choose may require frequent inspections of the home by a licensed agent or inspector, sometimes as often as once per week depending on the conditions of the policy.
Maintenance: Your holiday home may have to be maintained to a certain level in order to qualify for certain types of insurance. Each individual policy may have their types of requirements.
“In-Occupancy”: In addition, the insurer may require that the “in-occupancy” of the holiday home shall not last longer than a pre-set time period, which is usually four weeks over a calendar year. This can affect your ability to rent the home to guests when you are not in residence.
What to Look for in Holiday Home Policies
Getting the best holiday home coverage starts by examining different quotes from insurance companies, but there are certain factors you should be looking for when starting your search.
Theft & Forced Entry: The biggest risk to your holiday home is having thieves breaking in and stealing the items kept there. You may be able to lower the rates if you keep little of value in the home, apart from the furniture and necessary appliances.
Infrastructure: Does your holiday home have a swimming pool or perhaps a large deck, patio or even a storage building? You will want to check and see if the policy covers those areas as well.
Accidental Damage: One of the biggest issues in holiday home insurance is when something happens to a guest in your home. Look for policies that cover this important aspect of holiday home insurance. Also, any damage that might be caused by servants or employees should be covered as well.
Renting: If you rent your holiday home, you may have even more difficultly finding good insurance as the damage the occupants cause may not be covered.
You can find more information about holiday home insurance from Tower Gate Insurance, the professionals with years of experience in handling insurance for vacations homes.