Second home or holiday home insurance is a type of insurance that covers a property that you own but do not use as your primary residence. This insurance is specifically designed to protect homes that are used for holiday lets, rental properties, or simply as a secondary place of residence.
Do I need second home Contents Insurance?
Contents insurance typically covers a wide range of personal belongings, including furniture, electronics, appliances, clothing, jewellery, artwork, and other valuables. It provides financial protection in case these items are damaged or lost due to events such as fire, flood, theft, vandalism, or natural disasters listed in your policy.
Your insurance policy will have cover limits that specify the maximum amount the insurance company will pay for different categories of belongings. Make sure to review these limits and assess whether they adequately cover the value of your possessions.
Do I need second home Buildings Insurance?
You will also need to protect your property with Buildings Insurance. As you have for your main residence, this type of insurance coverage specifically focuses on protecting the physical structure of your second home against insured risks. The insured amount should reflect the estimated rebuilding cost of the property, not its market value.
Rebuilding costs consider factors like construction materials, labour, and any additional expenses associated with restoring the property to its original state. The best way to calculate the correct rebuild cost is to use a surveyor and at Lansdown, we have partnered with Rebuild Cost Assessment to help you with this. Find out more about this service here.
How to get insurance on a second home
It can be difficult to know where to get second home insurance quotes from, but the team at Lansdown can help. Lansdown specialises in helping you secure comprehensive second home insurance tailored to your unique needs. So, if you’re looking for the best second home insurance quote, please speak to Lansdown today at 01242 524498 or email firstname.lastname@example.org.
Lansdown Insurance Brokers are specialists in Home Insurance and High Net Worth Insurance. We are able to provide flexible policies to suit individual client needs and provide advice on what cover is needed.
Lansdown is part of the Benefact Group, a charity-owned, international family of financial services companies that gives all available profits to charity and good causes.