Landlord Insurance For Holiday Rental

Many owners of holiday homes have discovered that they can capitalise on the time their holiday property is unoccupied by renting it out to holidaymakers to reduce the risk associated with leaving a property vacant and produce a valuable source of income.

However, homeowners will usually be advised to acquire special landlord insurance for holiday rentals to minimise any potential risks to the property.

To find the right landlord insurance for your holiday rental, see below for our selection of places you will be able to get quotes on a range of types of landlord insurance:

Landlord Insurance for Holiday Rental

It is important to remember that although your holiday home may be covered by a standard home insurance policy, letting the property out to tenants may render the initial policy invalid. In these circumstances, finding appropriate landlord insurance for holiday rental policy is essential for homeowners who wish to protect their property.

Like most other forms of landlord insurance, holiday rental policies will usually contain important measures that are designed to protect the interests of homeowners, including:

• Landlord contents insurance – intended to protect the home owner’s property, such as furniture, appliances, and upholstery. What is covered will vary from policy to policy, however. You may also need to decide between indemnity or ‘New for old’ coverage.
• Landlords building insurance – intended to cover the cost of repairing any structural damage to the property. It may include coverage for the permanent fixtures such as bathtubs. You might want to make sure that a building insurance policy would cover the cost of clearing the land and rebuilding the property if an insured event destroyed it.
• Public liability for landlord’s insurance – This type of insurance policy would provide cover in the event of a holidaymaker staying on your property making a personal injury claim against you; it could help to cover your legal costs and if you were found to be at fault pay for the claimant’s compensation award and legal costs. If your property has certain amenities, such as a swimming pool, you may want to ensure that your policy covers incidents arising from its use.

Several insurance companies specialise in providing landlord insurance for holiday homeowners. It is a good idea to shop around to find the best possible landlord insurance quote for your needs.