If you are lucky enough to have a second home, you are probably endlessly grateful to have a bolthole away from your usual abode. Whether it’s weekends in the countryside, or an apartment in the city, a second property offers something of an oasis, helping you create balance between different areas of your life.
Of course, having a second home means making sure it is covered by the right insurance. However, it can be confusing: do you need home insurance? Should you expect to pay even when you’re not there and, if the property is unattended, is it covered by your policy?
In this article, we’ll look at some of the most commonly asked questions about second home insurance, as well as some tips to keep your premium down.
Can you get home insurance for a second home?
Yes, you can get home insurance for a second home. In fact, many people with second homes take out separate policies to cover their properties. This is because, as the name suggests, home insurance is designed to cover your primary residence in the event of damage or theft.
However, most insurers will be happy to provide cover for a second home – it just might come at a higher price than for your main property. It’s important to remember that, if you do have two policies, you’ll need to make sure both are up-to-date and that you are fully covered should anything happen.
What counts as a second home in the UK?
There is no definitive answer to this question, as the definition of a second home can vary from insurer to insurer. However, most insurers would consider a second home to be any property that you don’t live in full-time. This could be a cottage in the country, an apartment in the city or even a holiday home abroad.
It’s important to remember that your main residence will always be covered by your home insurance policy, regardless of whether you have a second property or not.
Do I need to pay premiums when I’m not there?
This depends on your policy and, again, can vary from insurer to insurer. Typically, policies for second homes will require you to pay premiums even when you’re not there. The reasoning for this is that, if something were to happen to the property while you’re not there, you would still need to be covered.
However, some insurers do offer a “holiday let” option, which allows you to pay lower premiums when the property is unoccupied. This is because the insurer knows that there is a higher chance of damage or theft occurring when the property is empty. If this is an option that you are interested in, be sure to check with your insurer before taking out a policy.
What will unoccupied property insurance cover?
Unoccupied property insurance is designed to cover properties that are unoccupied for a period of time. This could be because the owner is on holiday, because the property is being rented out or, as is often the case with second homes, because the owner doesn’t live there full-time.
The coverage that you receive will depend on your policy and, again, can vary from insurer to insurer. However, most policies will include protection against damage caused by fire, theft or flooding. It’s also worth noting that many policies will include liability cover in case someone is injured while on your property.
Can I insure a property I own but don’t live in?
Yes, you can insure a property you own but don’t live in. This is known as an ‘unoccupied property’ and, as the name suggests, is usually covered by specialist policies.
It’s important to remember that, if your property is unoccupied, you will need to take extra steps to make sure it is secure. Again, this will depend on your policy and insurer. However, most insurers would recommend that you take some basic steps to secure your property when you’re not there. This could include installing a burglar alarm, keeping the property heated during winter months or even hiring a security guard.
It’s also important to remember to keep your insurance policy up-to-date, especially if your second home is only used for short periods of time. This way, you’ll know that you are always fully covered in the event of an accident or theft.
Is my second home covered by my home insurance policy?
This depends on your policy and can vary from insurer to insurer. Typically, home insurance policies will not cover properties that are not occupied full-time by the policyholder. However, some insurers may be happy to provide cover for a second home, providing you pay a higher premium.
It’s important to remember that, even if your second home is not covered by your main policy, your main residence will always be protected.
If you want to try and keep the cost of your policy down, there are a few things you can do:
- Shop around: as with any insurance policy, it’s important to compare different providers and find the best deal for you.
- Increase your excess: by increasing your excess, you can bring down your premiums significantly. However, it’s important to remember that you will need to pay this amount in the event of a claim.
- Don’t over-insure: while it’s important to make sure your property is fully covered, you don’t need to insure it for more than it’s worth.
- Review your policy regularly: as your circumstances change, so too will your insurance needs. Make sure to review your policy regularly to ensure you are still fully covered.
As you can see, there are a number of things to consider when insuring a second home. By following these tips, you can find the right policy for you and keep your premiums down.
What does home insurance cover for a second home?
Home insurance for a second home typically covers the same things as for a main residence, such as damage or theft. However, it’s important to remember that your second home will not be covered by your main policy – you’ll need to take out separate cover.
Additionally, if your second home is unoccupied, you will need to take extra steps to make sure it is secure. This could include installing a burglar alarm or keeping the property heated during winter months.
As well as these questions, there are a few other things to keep in mind when insuring a second home:
- Make sure both of your policies are up-to-date – if something happens, you don’t want to be left without coverage
- Be aware that premiums for second homes can be more expensive than for a main residence
- Remember that your second home will not be covered by your main policy
By following these tips, you can make sure you are fully protected when insuring your second home.
What can invalidate house insurance?
There are a number of things that can invalidate your house insurance policy. These include:
- Failing to disclose any material facts when taking out the policy
- Making a claim for a loss that is not covered by your policy
- Making a fraudulent claim
- Not keeping your property in good repair, as outlined in your insurance policy
If you are unsure whether something will invalidate your policy, it’s always best to speak to your insurer beforehand. This way, you can be sure that you are fully protected in the event of an emergency.
Your second home insurance will be invalidated if you do not take the necessary security precautions. This includes installing a burglar alarm and keeping the property heated during winter months.
What exclusions should you be aware of when looking at second home insurance?
When taking out insurance for a second home, it’s important to be aware of the exclusions that apply. This means knowing what is and isn’t covered by your policy.
Some of the most common exclusions include:
- Loss or damage caused by natural disasters such as floods or earthquakes
- Damage caused by war or terrorism
- Accidental damage, such as a broken window
- Property that is not occupied full-time by the policyholder
If you are unsure whether something is covered, it’s always best to speak to your insurer. By doing so, you can be sure that you are fully protected in the event of an emergency.
How can I find the right quote for my second home insurance?
When looking for insurance for your second home, it’s important to find a policy that suits your needs. This means securing a policy with the right level of cover at a price you can afford.
You can get quotes from a number of different insurers, and it’s always worth comparing prices. You can also use an online comparison tool to find the best deal.
It’s important to remember that premiums for second homes can be more expensive than for a main residence, so make sure you are aware of this before you buy any cover.
If you want to take the legwork out of comparing quotes, choose QuoteSearcher. Just one simple form puts you in touch with our panel of specialist insurance brokers. With their knowledge and experience providing second home insurance, they’ll be in the best position to design a bespoke policy at a competitive price.