19-09-2007
Biba advises specialist insurance for second homes
Specialist insurance is needed for holiday homes that are not used frequently, according to the British Insurance Brokers' Association (Biba).
The insurance organisation's technical service manager, Graeme Trudgill, explained that unoccupied properties require special insurance.
Specialist cover for a holiday home takes into account factors such as that these properties are likely to have less contents than a primary residence.
Mr Trudgill added that property owners are also likely to benefit from policies that are better priced than traditional insurance policies for a second home.
"If you were to just take out a normal insurance policy for a second home in the UK, then you are not going to have the right cover there because it's going to be unoccupied for a long period," he said.
The Biba spokesperson explained that if a property is left empty for an extended period, for example 30 days, then things such as theft are not covered under typical second home policies.
Holiday homes make up around 0.5 per cent of the UK's housing stock, according to figures from the Office for National Statistics.