Schofields Holiday Home Insurance Tips & Advice Blog

Schofields Holiday Home Insurance Tips & Advice Blog http://blog.schofields.ltd.uk Wed, 10 Mar 2010 12:28:04 +0000 http://backend.userland.com/rss092 en French home insurance claims for storm damage storm Xynthia which caused damage estimated at €1bn in France, holiday home owners in the areas recognised as natural disaster zones have been given an extension to submit insurance claims with their French insurer. The deadline is March 31.

In France, normally a five-day limit applies to general storm damage claims - extended to 10 days to declare flood damage to the insurer if the government decrees a state of catastrophe naturelle (natural disaster). When choosing holiday home insurance in France, owners are often confused whether they should insure with a French based company, or a UK based French insurer. Stringent claims timescales for submitting claims to French insurers are yet another read the rest of “French home insurance claims for storm damage” >>

]]> http://blog.schofields.ltd.uk/1250/french-home-insurance-claims/ The UK second home market holiday cottage in the country is at an all time high according to research from Knight Frank. There are now 245,384 registered second homes in the UK. 6212 more second homes were bought last year, an increase of 2.6 per cent on 2008 when the recession and credit crunch saw growth falter. Why the growth? The number of second homes has reached a record high due to a combination of renewed confidence in the economy, low-cost borrowing, weak returns on cash investments and a weak pound - which makes buying a property in the UK a more attractive option than Europe. Where are the UK second home hotspots? read the rest of “The UK second home market” >>

]]> http://blog.schofields.ltd.uk/1242/uk-second-home-market/ Storms batter holiday homes in Europe The bulk of the casualties and damage was in France, hitting the Vendee and Charente-Maritime regions in southwestern France the hardest. Fierce rain and 150mph winds caused rivers to burst their banks and sea walls to collapse, flooding properties and leaving up to a million homes without power. The deadliest storm in a decade. Prime Minister François Fillon has declared a state of catastrophe naturelle and a ministerial decree to this effect should be published within 48 hours. Claims experts at Schofields holiday homes read the rest of “Storms batter holiday homes in Europe” >>

]]> http://blog.schofields.ltd.uk/1235/storms-batter-holiday-homes-in-europe/ Holiday let insurance to cover damage by guests One thing is for sure - holiday home owners take a huge risk every time they let their homes to a ‘stranger’. With a constant turnover of holidaymakers staying at holiday homes, owners have a continuous fear that guests will cause damage. How can owners protect against damage from holidaymakers? Security or damage deposits are one way, however there are often challenges when proving who is responsible and what happens when the damage is extensive? For complete peace of mind property owners need holiday let insurance, which includes damage by guests read the rest of “Holiday let insurance to cover damage by guests” >>

]]> http://blog.schofields.ltd.uk/1212/holiday-letting-insurance-or-damage-deposit/ Flood & storm insurance for property abroad mudslides and floods that swept the Portuguese holiday island of Madeira, holiday home owners are urged to check their property insurance abroad covers flood and storm damage. Winds in excess of 70mph, hours of torrential rain, streams of water and mud swept through the capital Funchal, destroying homes, cars and felling trees. Adverse weather has also battered other parts of Europe this winter, with parts of Spain and France also being flooded.

Many owners of overseas property who lock up and leave their homes over winter are often unaware of the extent of the extreme weather that pounds properties in Europe, as they only visit when the sun is shining. Although these owners read the rest of “Flood & storm insurance for property abroad” >>

]]> http://blog.schofields.ltd.uk/1203/flood-storm-insurance-overseas/ Recap of holiday home news: 19 February 2010 Claims flood in for insurers - business.scotsman.com It's been a bad winter for insurers. The Association of British Insurers (ABI) estimates claims caused by November’s flooding in Cumbria will reach £206 million. In addition to the floods, the UK insurance industry has received almost 16,000 home insurance claims relating to water damage caused by the coldest winter in decades. Sainsbury's Finance estimate that claims were worth £35 million read the rest of “Recap of holiday home news: 19 February 2010” >>

]]> http://blog.schofields.ltd.uk/1183/holiday-home-news-19210/ Carbon monoxide: stay safe at your holiday home Carbon monoxide (CO) is a colourless, odourless, tasteless and highly poisonous gas that can kill quickly without warning. Early symptoms include: headaches, dizziness, nausea, vomiting, tiredness and drowsiness. CO poisoning can be caused by incorrectly installed, poorly maintained or poorly ventilated cooking and heating appliances. Those who rent holiday accommodation such as cottages, lodges, apartments and villas, should understand their obligations with regards to carbon monoxide safety. In the UK, holiday let read the rest of “Carbon monoxide: stay safe at your holiday home” >>

]]> http://blog.schofields.ltd.uk/1165/holiday-home-carbon-monoxide-advice/ Would you let your holiday rental to the Griswolds? Hotel Hell Vacation” ad during the Super Bowl, which featured the Griswolds from the “National Lampoon’s Vacation” movies, and HomeAway's plans to use them in their campaign – “rent a house for half the cost of a hotel”

Would you rent your holiday home to the clumsy and accident prone Grizwolds - Clark, Ellen, Audrey, Rusty and cousin Eddie? Our feedback from clients over the years is that many of you have rented to families just like the Griswolds. Here are some of the outcomes from those rentals:

Guests tripping down stairs, slipping by the pool and falling off bikes – all resulting in injuries

Holidaymakers who

read the rest of “Would you let your holiday rental to the Griswolds?” >>

]]> http://blog.schofields.ltd.uk/1142/holiday-rental-damage/ HomeAway Griswolds Super Bowl ad holiday rental over a hotel - “why settle for hotel room when you can rent a whole house for half the cost” According to HomeAway, only 10% of people who go on holiday choose holiday rentals, so there is massive potential. With prices for a read the rest of “HomeAway Griswolds Super Bowl ad” >>

]]> http://blog.schofields.ltd.uk/1129/homeaway-griswolds-super-bowl-ad/ How to sue deceptive holiday rental owners Then be warned, you could be sued. A new type of insurance has been launched by Insure and Go which covers "holiday disputes” and enables holidaymakers to pursue a breach of contract claim with property owners. In past instances where holidaymakers have had disputes with holiday let owners and requested compensation, whether any refund is given has been up to the owner. Often, complaints have been unsuccessful, leaving holidaymakers with the option of expensive legal fees by pursuing the dispute in the small claims court. Holidaymakers will read the rest of “How to sue deceptive holiday rental owners” >>

]]> http://blog.schofields.ltd.uk/1112/holiday-rental-disputes/ Recap of holiday home news: 2 February 2010 It’s time once again for our holiday home news round up, here’s what’s been happening: Expats protest in Spain, the best countries to live in, council tax on second homes could double and the overseas property review of the decade. The overseas property market in the noughties

What's happened in the overseas property market in the last 10 years? which countries were the biggest winners and losers? Ten years ago a Dubai sea view flat cost about £40,000, an apartment on Spain's Costa del Sol was £75,000 making them attractive investments, especially with the low cost airlines making them easily accessible to read the rest of “Recap of holiday home news: 2 February 2010” >>

]]> http://blog.schofields.ltd.uk/1099/holiday-home-news-2210/ How to cancel French home insurance Insurance in France automatically renews, so if you are thinking of changing to a UK insurer because of the premium, limitations in cover or simply because you want the policy in English - ensure you cancel your French policy first. If you don’t follow the correct cancellation procedure you will be liable to pay the years premium, even if you have a new policy read the rest of “How to cancel French home insurance ” >>

]]> http://blog.schofields.ltd.uk/1077/cancelling-french-insurance/ Dealing with boiler breakdowns at your cottage Boiler breakdowns and heating failures are not covered under a holiday let insurance policy. It is the holiday home owners responsibility to maintain heating systems. For peace of mind one solution is to take out separate ‘home emergency’ insurance policy, which covers boiler breakdowns. The type of policy that utility companies offer. The other alternative is to have the boiler serviced annually and have someone on hand for emergency breakdowns read the rest of “Dealing with boiler breakdowns at your cottage” >>

]]> http://blog.schofields.ltd.uk/1072/boiler-breakdown/ Burst pipes – 3000 claims in one day 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” >>

]]> http://blog.schofields.ltd.uk/1058/my-pipes-are-frozen/ 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: read the rest of “Advice & resources for letting a holiday home” >>

]]> http://blog.schofields.ltd.uk/1036/how-to-holiday-let/ 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” >>

]]> http://blog.schofields.ltd.uk/1024/holiday-home-news-12110/ Cancelling a holiday due to the weather 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” >>

]]> http://blog.schofields.ltd.uk/1014/holiday-cancellation-insurance-weather/ Is your holiday home insured during the big freeze? read the rest of “Is your holiday home insured during the big freeze?” >>

]]> http://blog.schofields.ltd.uk/1000/burst-pipe-insurance/ Why cheap holiday home insurance is pointless read the rest of “Why cheap holiday home insurance is pointless” >>

]]> http://blog.schofields.ltd.uk/967/cheap-holiday-home-insurance/ 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” >>

]]> http://blog.schofields.ltd.uk/986/reduce-insurance-premium/ Google property search: are holiday rentals next? holiday homes to Google Maps? How does Google property search work? It is expected to be similar to the real estate service Google launched in Australia, which allows users to view real estate listings on Google Maps by selecting "Real Estate" from the "More" menu at the top right of a Google Map. Users can then refine their search using the options in the left hand panel and also view properties for rent. Google Maps also recently added Place Pages for each listing. Clicking the “more info” link read the rest of “Google property search: are holiday rentals next?” >>

]]> http://blog.schofields.ltd.uk/954/google-property-search/ Donate your spare weeks to charity Jane Palliser runs Homes with Heart a unique organisation that helps families suffering from a life-limiting illness have a holiday. From the website Homes with Heart is a unique organization which lets holiday home owners donate spare weeks in their property to families who desperately need a break – young families where either a child or parent is terminally ill or has a life-limiting disease. The onus is on healthcare professionals to refer a family whom they have known read the rest of “Donate your spare weeks to charity” >>

]]> http://blog.schofields.ltd.uk/941/holiday-home-charity/ Recap of holiday home news: 1 December 2009 It’s time once again for our holiday home news round up, here’s what’s been happening: Spanish tax refund for Britons - dailymail.co.uk If you sold a holiday home in Spain in the past 12 years (from 1997 onwards) then you could be owed on average £13,500 by the Spanish tax authority. The European Court of Justice has opened the door to this huge tax rebate for non-residents of Spain, by ruling that the tax regime was 'unlawful and discriminatory'. While locals paid just 15 per cent in capital gains tax (CGT) on their profits when they sold, Britons and other non-residents were charged a hefty 35 per cent read the rest of “Recap of holiday home news: 1 December 2009” >>

]]> http://blog.schofields.ltd.uk/929/holiday-home-news-11209/ How to check if a home is at risk of flooding second homes in Cumbria were flooded, we continue our flood advice posts. According to the Environment Agency, one in six homes in England are at risk of flooding. And with climate change, the risk of homes flooding through rising sea levels, rainstorms and overflowing drains is expected to increase. Even if a property is situated away from a river or the sea, it could still be susceptible to surface water flooding. flooded house

Combined with the complexity of trying to get insurance for a holiday home in a flood risk area and the effect this will have on the property value, it is essential that you research if a read the rest of “How to check if a home is at risk of flooding” >>

]]> http://blog.schofields.ltd.uk/914/is-my-home-in-a-flood-risk-area/ What to do if your holiday home is flooded how to prepare for a flood and the subsequent floods in Cumbria, here is some advice on what to do during a flood and the steps to take if your holiday home is flooded. Always put your safety before property and be prepared to act quickly. Unfortunately, floods are becoming more frequent and more severe, so be prepared. sandbag flood protection

What to do during a flood

Listen to and act on the advice of the emergency services
Use your flood kit and put your flood plan into practice (as discussed last week)
Put flood protection equipment in place such as sandbags

read the rest of “What to do if your holiday home is flooded” >>

]]> http://blog.schofields.ltd.uk/894/what-to-do-during-a-flood/ Holiday Homes at Risk of Flooding second home hot-spots of Cumbria, North Wales and Scotland to be prepared for flooding. The Met Office has issued severe weather warnings - with up to 50mm of rain expected to fall on already saturated ground, there is a risk that holiday homes will be damaged by flooding. Parts of the UK are also expected to be battered by gale force winds of up to 70mph, which is strong enough to cause damage to holiday homes by falling trees, branches and roof tiles being blown off. Be vigilant to any signs of damage to your holiday home, alert your insurer should the worst happen and read the rest of “Holiday Homes at Risk of Flooding” >>

]]> http://blog.schofields.ltd.uk/878/flood-warnings/ Recap of holiday home news: 17 November 2009 holiday home news round up. Here’s what’s been happening:

Unoccupied holiday homes in Wales targeted by arsonists - dailypost.co.uk Police in North Wales are investigating arson attacks on two unoccupied holiday homes which appear to be connected. Fire crews were sent to the houses in Ty Croes and a few miles away at Pencarnisiog. Police said there was nothing to suggest that the fires were related to any Welsh extremism. Nearly 30 years ago there were a wave of arson attacks against English-owned holiday homes in North and mid Wales, in response to houses bought as second homes pushing up property prices beyond read the rest of “Recap of holiday home news: 17 November 2009” >>

]]> http://blog.schofields.ltd.uk/865/holiday-home-news-171109/ Changing to Long Term Holiday Lets in Winter holiday homes insurance can accommodate owners who wish to change to long term holiday lets. All you have to do is notify us and we will change cover to our let property insurance. The cover is the same, except we exclude read the rest of “Changing to Long Term Holiday Lets in Winter” >>

]]> http://blog.schofields.ltd.uk/854/winter-cottage-rentals/ 5 Insurance Risks When Holiday Letting holiday let insurance policy should cover these risks so owners don’t have to lose out financially. But be aware, some don’t, especially foreign policies. Ensure you are protected against these 5 holiday letting risks that could eliminate your holiday letting profits. 1) Damage by guests

The constant turnover of holidaymakers staying at your holiday home means that wear and tear is to be expected. What will inevitably happen is that a read the rest of “5 Insurance Risks When Holiday Letting” >>

]]> http://blog.schofields.ltd.uk/832/holiday-letting-risks/ Holiday Cottage Emptied by Guests holiday cottage.

The holidaymaker deliberately scammed the holiday let owner, as they booked with a stolen credit card under a false name (worryingly via a holiday cottage letting agency). Once the fraudster had the keys to the cottage, they emptied it of valuables. Are you covered for theft by guests? Although this type of fraud is rare, it highlights read the rest of “Holiday Cottage Emptied by Guests” >>

]]> http://blog.schofields.ltd.uk/823/holiday-cottage-theft/

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