Holiday home is considered a second home because it is where you stay for vacations or when there’s a special event. Having such home is nice because there is a place that you can go to when you want to take some time out from busy everyday life and just relax and spend quality time with the family. More often than not, people purchase this kind of property as investment but there are also others who buy this to lease to tenants. It could be said that, the property can also be used for business purposes.
In any case, just like any other properties, you must also protect this home by getting the right kind of holiday home insurance. In the past, these policies are not easy to find but because things have changed over the years, there are now so many insurance companies that offer various holiday home plans. There are 2 types of holiday homes and they each require different policies:
1. Private holiday homes
If your holiday home is used for just personal functions like a vacation, and only you, your family, and friends are able to come here, then your property is private. You can avail of this type of insurance with coverage intended for private holiday homes.
The majority of insurance companies demand that the house to be insured must not remain vacant for over 40 days and 40 nights. If not, you will be obliged to inform your provider who will modify your insurance plan.
2. Leased holiday homes
As its name implies, this holiday home is being leased to tenants. In this situation, the insurance can protect your property even when you are not around. By knowing that your home is safe, you can have a peace of mind, right?
On the other hand, to further feel secured and take full advantage of your holiday home insurance, ask a neighbor or someone to check your home once in a while, just to make sure everything is well. Also, install alarm systems for full safety measures.
Holiday home insurance is essential –Why?
Insurance is definitely needed for holiday homes due to a variety of reasons. For one, this type of home is usually built in distant places or isolated area. On top of this, when a property is always deserted for a long time, it become very susceptible to harmful elements like burglary.
Natural disasters can also strike the property, without the owner’s knowledge. Leaks from pipes and gas lines which can lead to severe damage to the home are other possibilities that can happen without being noticed for a long time. With the plan, any of these incidents can be covered by insurance and you will not incur any loss as the insurer will pay everything for you.
Really, for peace of mind and guaranteed security, purchasing a holiday home policy is the best move. You cannot live being worried at all times; always having thoughts of the home being damaged since no one is there to regularly take care of it. Routinely checking out the place can be very inconvenient due to distance, schedules, and other things. Thus, the insurance is the solution.
On the whole, whether you are visiting your holiday home or renting it out to somebody, acquiring the suitable insurance is very crucial. The insurance will make you feel assured when planning to visit your holiday home. If anything goes a miss, there’s something that can get you and your property covered. Your insurer will help you all the way. Alternatively, if you are leasing it, your tenants and your home are protected in the same way.