Burst pipes – 3000 claims in one day

Finally, after weeks of freezing temperatures the mercury is beginning to rise, but be aware, as the thaw begins frozen pipes often burst.

Most insurers are experiencing large volumes of claims following the big freeze. In fact, whilst discussing a holiday home burst pipe claim, our loss adjusters commented that one insurer received 3,000 claims on Friday.

Have you checked your holiday home?

Due to second homes being left empty for long periods, the damage caused by burst pipes can go undiscovered for days, even weeks. During this time hundreds of gallons of water can cause widespread destruction, costing thousands.

As frozen water pipes begin to thaw they often burst, so it is… read the rest of “Burst pipes - 3000 claims in one day” >>

Advice & resources for letting a holiday home

Whether you already own holiday let or are thinking of investing a holiday home, most people have ongoing concerns about how to run a holiday let or what is the best way to get more bookings…

Thankfully, there are some excellent resources available that give advice on marketing, renting and maintaining a holiday let.

From downloadable rental agreements to inventory checklists and tips on taking photos – the advice is endless.

So get yourself a drink, a comfy chair and take a few hours to soak up all the advice from these resources.

Here are some of the best holiday letting advice sites:

Recap of holiday home news: 12 January 2010

It’s time once again for our holiday home news round up, here’s what’s been happening: 10 tips for buy-to-let success, non-disclosure insurance law may be changed, is it wise to invest in a holiday cottage? National Trust demands extra payment for cottage holidays and the Holiday Cottages Group promotes self catering holidays.

10 buy to let tips

After two decades investing in 700 buy to let properties, the former maths teachers Fergus and Judith Wilson are selling up.

Their strategy was simple: the rent covered their outgoings and capital values rose, then they would re-mortgage and reinvest. But is there more to… read the rest of “Recap of holiday home news: 12 January 2010” >>

Cancelling a holiday due to the weather

The artic weather conditions across the UK caused travel chaos over the festive break and the snow looks set to continue into January, with suggestions it could be the worst winter for 100 years.

Unfortunately, many holidaymakers had to cancel their Christmas and New Year cottage holidays due to the extreme UK weather conditions. But who is liable for the financial loss – the cottage owner or holidaymaker?

As a holiday home owner it’s advisable that you prevent any financial loss due to cancelled bookings, especially during peak weeks, which could be let ten fold. Your booking terms should clearly state your cancellation policy.

Common practice is cancellation more than 6 or 8 weeks then the deposit will… read the rest of “Cancelling a holiday due to the weather” >>

Is your holiday home insured during the big freeze?

Yet again, heavy snow and sub-zero temperatures are causing chaos across the UK, Spain, France and Europe. As temperatures plummet, holiday homes and cottages are particularly vulnerable to water damage caused by burst pipes – especially those which are left empty.

The cold snap last winter resulted in a sharp increase in holiday home insurance claims for water damage, which not only caused significant damage but also emotional trauma. According to AXA, there was a 60% rise in claims last winter compared to the previous year and the average burst pipe claim was £15,000.

With Britain facing one of the coldest winters in 100 years, water damage claims from burst pipes are expected to increase yet again this winter.

Why cheap holiday home insurance is pointless

It seems everyone is trying to cut costs when it comes to insurance. However, for the sake of saving a few pounds off their premiums, homeowners could find themselves seriously out of pocket if something untoward happens… by not having adequate insurance.

I have found a cheaper quote, can you match it? is a question insurers face on a daily basis. But you should ask yourself – why is the quote cheaper?

Is the cover the same? If the cheaper quote includes an array of exclusions and limitations then this is likely to be reflected in the price. As with third party motor insurance, for complete peace of mind you need fully comprehensive cover.

Saving a few pounds is no use if that saving is achieved by… read the rest of “Why cheap holiday home insurance is pointless” >>

How to cut second home insurance costs

While scaling back your insurance may seem a good way of saving a few pounds on your premium, buying cheap holiday home insurance based on price alone is false economy if you are reducing cover.

There are legitimate ways of reducing your insurance premium without cutting cover. Here are our tips…

Increase your excess
Most policies include an excess charge, which is the amount the insurer deducts from a claim. If you opt to pay a higher excess (e.g. £100 or £200 rather than the standard £50) this can significantly reduce the cost of second home insurance.

You should bear in mind that you will have to pay more when you do… read the rest of “How to cut second home insurance costs” >>