Last Updated on March 15, 2012 by Mark Lavington
If you are using a mortgage to finance your purchase make sure your mortgage provider is aware of your intention to holiday let the property.
Likewise check with the freeholder / managing agent that the buildings insurance policy for the apartment block includes property owners liability for the shared areas and that holiday letting is an acceptable use of the apartments by the insurer.
At this point it is also wise to check if the buildings insurance extends to cover fixtures and fittings within the apartment such as fitted bathrooms, kitchens, and fitted bedroom furniture and wooden flooring and if so is accidental damage included? In our experience the buildings insurance for many blocks of flats and apartment blocks does not extend to cover the fixtures and fittings within the apartment and certainly not in the event of accidental damage.
Now that you have established the above, how can Boshers help?
We can provide you with a Holiday Home Insurance Contents Policy for your apartment to include cover for:
- Your general contents
- Fitted kitchens, bathrooms, bedrooms and flooring
- Property owners liability insurance for commercial holiday letting
It is important that you insure for the correct replacement value, remember in the event of a claim your contents will be replaced on a new for old basis, therefore your sum insured must be sufficient to replace everything at the recommended retail price. Likewise with fitted kitchens, bathrooms and bedroom furniture you must insure for like for like replacement including the cost of installation and debris removal.
Follow this link for posts similar to `You, your holiday let apartment and your insurance‘ and other useful resources for holiday home owners
For further information on UK holiday home insurance visit the website page most relevant to you:
- Click here if you require holiday let insurance for your annexe
- Cick here if you own a single furnished holiday letting home, cottage or apartment
- Click here if you own a listed holiday home or cottage complex
- Click here if you own a holiday cottage complex
Thank you for reading `You, your holiday let apartment and your insurance‘.
Should you have any queries or require a holiday home insurance quotation for your commercially let second home or apartment call us on 01237 429444 or visit us at www.boshers.co.uk/holiday-home-insurance