Why holiday home insurance?
Could you afford to rebuild your holiday home if it was destroyed, for example, by a fire? If you answer no and even if you own your second home outright, you should have the property insured just as you would any home. Given that a holiday home is often left unoccupied for long periods, there is a greater chance of a burst pipe or a water leak, and break-ins are also more likely if a house is unoccupied. Having holiday home insurance in place to protect your second home is important however additional requirements/restrictions may apply for the following cover: escape of water, stealing or attempted stealing, vandals or malicious damage and storm or flood. This is due to the fact that these properties are unoccupied for long periods of time.
Cost of cover
Before you take out holiday home insurance you’ll need to know the rebuild cost of your investment property. Our Rebuilding Calculator uses information from the Society of Chartered Surveyors in Ireland to calculate the rebuild cost of a property. If the holiday home is in an apartment building, the building insurance should be covered by the annual management fees. However, always ask for a copy of the policy to see if it is adequate. It might be necessary to take out an additional coverage to protect your contents. To get a quote, call us in Wexford on 1890 400 300 or 053 915 7775.