Do You Own Your Own Holiday Cottage? Ensure It’s Protected with Landlord Insurance

If you own your own holiday cottage then you are very fortunate. You’ve got the opportunity for weekends away whenever you choose if it’s situated within easy travelling distance. You’ve got a ready-made holiday waiting for you each year and the opportunity of making a serious amount of money from it by renting it out.

 So, if you are new to the rental market what sort of things do you need to take into account before doing so? Well, obviously the property will need to be presented to a high standard if you want to be able to charge a decent amount for it, so it’s worth decorating it in fairly neutral colors to appeal to most clients.

Landlord Insurance

You’ll need to equip it with all the usual appliances and gadgets such as a decent size TV and DVD player, fridge freezer, cooker and microwave as the better equipped it is the more you will be able to charge. You’ll need to think about whether you will be providing the sheets and towels or if people will be required to bring their own.

You’ll need to employ someone to clean the property between clients if you aren’t able to do it yourself and you’ll need to find yourself some decent landlord insurance with an adequate amount of cover. Don’t be tempted to try and buy an ordinary household policy as the insured events won’t suit the needs of a rental property.

 Landlord buildings insurance is tailored towards different needs and will provide cover for things such as damage caused to the property by your tenants or damage caused by flooding or fire and most importantly, public liability.

Public liability insurance is a must as it will cover you in the event of your tenants injuring themselves on your property and deciding that it’s your fault; something that could cost you thousands of pounds to defend in court.

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