Do I need holiday home insurance?

If your holiday home is mortgaged, then you may be required to take out home insurance on your holiday home. But even if it's not a mortgage requirement, holiday home insurance is a smart way to protect your investment and provide peace of mind. Because you're not always at your holiday home, they could be more likely to be broken into, so it's also a good way to protect yourself from burglary. In lots of cases too, holiday homes are in rural areas where bushfires , storms and other dangerous weather events are more common. If something major was to occur, holiday home insurance can ensure you're looked after financially if you have to repair or rebuild.

Do I need contents insurance for a holiday home?

If you leave furniture, TVs, appliances, jewellery, artwork or any other valuables at your holiday home, then you need to consider contents insurance. Consider how hard you've worked to pay for these items and how much it would put a dent in your finances if you were forced to pay to replace them all. You leave yourself open to burglary every time you leave the house, so contents insurance is a smart way to cover yourself should someone break in. Contents insurance can also help out if you haven't visited for a while and a storm or weather event does damage to your property, causing damage to some of your belongings.

What add-ons should I consider?

While you are usually covered for things like weather damage, burglaries and legal liability, accidental damage isn't always automatically included and could be worth it, especially if you have any expensive items. Also, remember that holiday homes left unoccupied for more than a specific length of time - often around 90 consecutive days - usually won't be covered anymore. To avoid this, let your insurer know and they might be able to cover you for an additional cost.

What insurance do I need if I rent out my holiday home?

As already stated, if you rent out your place, the insurance you need depends on how long your guests stay for. Longer than 90 days. For this, you'll need a type of landlord insurance. For short stays like Airbnb. You'll need a type of holiday let insurance like ShareCover .

How can I save money on a holiday home insurance policy?

There are a few useful ways to help reduce your holiday home insurance premiums. Pay annually. Paying annually is a common but sure way to pay less for your insurance. Combine your home and contents. Some insurers give you combined cover at a reduced rate than if you bought them separately. Home security. A big reason that holiday home insurance can cost a lot is that the home isn't permanently occupied, leaving you more open to theft. To make your home safer, and potentially lower your premiums, add alarm systems, locks and security lighting. Maintenance and repairs. Just like your home, keeping your holiday home in good condition reduces the chances of you having to make a claim.

Will I be covered if someone steals or vandalises my holiday home?

Yes. So long as you have home and contents insurance, you should be covered if someone steals from or vandalises your holiday home.

What's the difference between a normal home insurance policy and holiday home insurance?

A normal home insurance policy won't cover you if you're making an income from the property, and your policy may also be voided if it's unoccupied for an extended period of time. This is why you need to choose the right policy for your holiday home.

Can I sublet my home if I go on holidays?

It's a pretty common thing to sublet your place (especially if you're renting) if you go on holidays for a few weeks. While subletting could help you pay the rent on your place, it's often not permitted by your landlord since subletting tenants aren't usually covered by their insurance. Your landlord can't physically stop you from subletting, but it will probably go against your lease agreement.