Holiday Home Insurance is different to standard home insurance as it is designed to cover properties that are not in full time use and that are used by friends and family. The liability cover covers your liability to both third parties and your guests.

The rebuild sum insured should represent how much it would cost to rebuild your holiday let (including any outbuildings) as they currently stand from scratch.

Policy Powerhouse has taken away the worry of getting this amount right for the policyholder.

We use data from a variety of sources to estimate the rebuild cost of the property.

Rebuild costs don’t include the cost of land, so in most cases it will be less than the property’s market value.

Make sure the rebuild sum insured is enough to cover the cost of rebuilding your holiday let including outbuildings, swimming pools, hot tubs etc. The costs for debris removal and professional architect and engineers fees should also be included.

You may alter the rebuild sum insured up to £1,000,000. Failure to insure for the full reinstatement value could result in the claims settlement being reduced.

Contents should always be covered on a new for old basis. You should insure the contents for the amount it would cost if you were replacing them at today’s prices.

The Policy Powerhouse holiday let insurance automatically offers £10,000 of cover free of charge. You may select any amount up-to £100,000. Typically, the average value of possessions in a holiday let property is approximately £20,000.

• Pay annually It’s often cheaper to pay the premium annually rather than paying monthly. Most insurers will charge interest or an admin fee if you opt to pay monthly.
• Buy a combined policy Buying buildings and contents insurance together from the same insurer will save you money compared to buying each separately.
• Increase your voluntary excess Opting to pay a higher voluntary excess can lower your insurance premium.
• Don’t over-insure Overestimating the rebuild cost of your property and the value of your contents will increase your premium, so ensure the figures are accurate as possible.

Policy Powerhouse is an insurance broking business focused upon niche insurance sectors providing contingency and property insurance expertise.  The business operates as far as possible through its digital platform which is being created to provide exceptional customer engagement and seamless insurer reporting.  Policy Powerhouse Executives each have over 30 years specialist experience of the sector and the business is also supported by an Advisory Board who have extensive experience within related sectors such as Technology, Marketing, Advertising & Investor relations.  Policy Powerhouse Limited is authorised and regulated by the Financial Conduct Authority, FCA registration 946345 as an appointed representative of Innovative Risk Labs Ltd. Innovative Risk Labs Ltd is authorised and regulated by the FCA Registration 609155. You can check this by visiting Financial Services Register or by contacting the FCA on 0800 111 6768.