When insuring a short-term-let / holiday let insurance may be higher. This is due to the constant change of occupants; property can become damaged or even stolen.

In addition, if the wrong people decide to rent out your property for a week, then you could face problems. Many places operate a policy of no large groups of young people as one example.

If you are letting out your home on s short-term-let basis, then we recommend you get all 3 types of insurance here…

1. Home Insurance £150-£200 per year
2. Host Insurance £200-£250 per year
3. Unoccupied Home Insurance £300-£350 per year

This is a total cost of £650 – £800 per year

However, if you own an apartment on leasehold then you will already have building insurance and should be ok with just content/host insurance.

Home Insurance

This will be standard insurance for any property, but you will still need it even if you have Host insurance.

There are different levels of home insurance and can cover against many things…

• Structural issues
• Flooding
• Fire
• Weather related damage
• Content / theft of items in house

As you are not living in the property and can’t act quick in case there are issues always try to spend a little more if you are letting your property out be it long or short term let.

You can expect to pay £150-£200 per year.

Host insurance

Host insurance is specific for landlords looking to let out their property on an Airbnb type model. It doesn’t just cover for damage of the property but can also cover for injury of guests.

• Guest Fire damage
• Water damage from a guest
• damage both accidental or malicious caused by guest
• Third-party property damage caused by guests

What this will not cover is generic wear and tear damage or small broken items that should be covered by deposits from the guests.

It will also exclude everything that should be covered by standard home insurance.

Expect to pay £200-£250 per year for this

Unoccupied Home Insurance

If you have a holiday property there is a fair chance it can be empty for weeks at a time. A standard Home Insurance will only cover your property for up to 60 days if it is unoccupied. If anything happens after this then you are not covered.

It will cover the same sort of things that your home insurance covers.

• Guest Fire damage
• Water damage from a guest
• damage both accidental or malicious caused by guest
• Third-party property damage caused by guests

This insurance is more expensive than other types of home insurance. The reason being is firstly the property is more attractive to burglars. Secondly if something does start to go wrong, for example flooding, gas leak etc… then there is a chance you will not catch it as early as you would if you were occupying it.

Expect to pay £300-£350 per year for Unoccupied Home Insurance