Owning a second homeor holiday homecan be a smart choice. It can serve as a
weekend getaway, a rental property, or a calm escape. However, insuring a second
propertycan be a bit tricky compared to your main residence. You might keep it
empty for long periods, rent it out, or deal with risks related to its location. This guide
will cover the different types of home insuranceavailable for second
homes. We will also look at what coverage you might need and how to choose the right insurance provider.
Why Do You Need Second Home Insurance?
How Is Second Home Insurance Different from Standard Home Insurance?
Second home insuranceis different from regular home insurancefor a
primary residence. It is designed for homes that stay unoccupiedfor
long periodsor are rented out to tenants. Regular home insurance policiesmay not cover risks related to a holiday homeor an unoccupied
property.
Why Do Insurers
Charge More for Second Home Insurance?
Higher Risk of Burglary– A home that is empty for a long time is at greater risk of
theft or vandalism.
Increased Risk of Escape of Water– Unoccupied homes are more likely to have burst
pipes or leaks that go unnoticed.
Potential for Accidental Damage– If the home is rented out, tenants might not take
care of it like an owner would.
Weather-Related Damage– Coastal or rural homes can be more impacted by storms,
subsidence, or landslips.
What Are the
Different Types of Insurance for a Second Home?
Second Home Buildings Insurance
This text discusses the physical structure of your second home. It includes
permanent fixtures, walls, roofs, and foundations. These elements help protect against
damage from:
Fire, floods, and storms
Issues from ground sinking and landslips
Escape of water from pipes
Burglary or vandalism
Second Home Contents Insurance
It keeps your personal
possessionssafe. This covers appliances, fittings, and belongings that are in your second property.
Theft or damage from break-ins
Accidental damage cover for expensive furniture or electronics
Optional extras like home emergency cover
Unoccupied Property Insurance
If your second home is empty for more than 30 days in a row, many home insurance policiesmay not
cover it. Unoccupied property insurance can provide protection for your home when it is unoccupied.
Landlord Insurance for Second
Homes
If you rent out your second home, regular home insurance may not be enough. Landlord insurance gives you
extra protection for:
Loss of rent coverif people cannot move into the property.
Public liability insuranceif a tenant or guest is injured.
Legal costs related to issues with tenants.
Short-Term Let Insurance
If you rent your second homefor short-term letssuch as Airbnb or holiday
rentals, consider getting special insurance. This insurance should protect important things that you may
need.
Accidental damage caused by guests
Damage caused by pets
A legal requirement for public liability if someone gets hurt
How to Choose the Right
Insurance for Your Second Home
What Level of Cover Do You Need?
When you choose an insurance policy, consider these factors:
The value of your home and how much it costs to rebuild it
The value of your belongings inside the house
Whether you need separate policies for your buildings and contents
Whether you need a joint policy that covers several properties
What Are the Optional Extras?
Many second home policies offer optional extras, such as:
Accidental damage cover– This helps you with issues like wine spills on carpets or
broken appliances.
Legal costs– This covers problems you might have with tenants or repair workers.
Home emergency cover– This provides fast help for urgent repairs.
Does Location
Affect the Cost of Second Home Insurance?
Yes. Properties that might flood, are in rural areas, or are near the coast could need special
insurance cover. Be sure to check with your insurance providerif you
require extra coverage.
Can You Save Money on
Second Home Insurance?
To reduce the cost of second home insurance, consider:
Improve safetywith alarms, CCTV, and smart locks.
Cover multiple propertieswith the same insurer.
Choose a higher excessto lower your premiums.
Get a specialist insurerthat offers special policies for second homes.
Correct as of 24 February 2025
FAQs About Insuring
a Second Home or Holiday Property
Do I Need Separate Insurance for My Second Home?
Regular home insurance policies usually do not cover a second property. That’s why it is smart to
get a specialized second home insurance policy.
How Long Can My Second Home
Be Unoccupied Without Affecting Insurance?
Most insurance companies allow up to 30 consecutive daysof having your property
empty without needing unoccupied property insurance. Check your
insurance policyfor details.
Can I Get One Policy for Both My Main
Home and Second Home?
Some insurance companies offer joint policies for multiple properties. This can be a cheaper
choice for people.
Does Second Home Insurance Cover Short-Term
Rentals?
Not all the time. If you rent out your second home for short stays, you may need specific home
insurance or landlord insurance for holiday homes.
What Happens If I Don’t Have Second Home Insurance?
Without second home insurance, you may have to pay for repairs yourself. This could happen if
there’s a burglary, subsidence, or accidental damage. If you rent out your second home, you
could also face costs for any damages caused by your tenants.
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