What's in this article?
- Top holiday home claims 2017-2019
- How to avoid holiday home claims
- Related products
- Related Articles
Here at Towergate, we’ve looked at the top 10 most common holiday home claims in 2017 to 2019, how long they take to fix, and the average cost of putting things right.
The most common claim and top spot on our list is taken up by escape of water (leaks) - with the average claim taking 90 days to fix, and costing a whopping £7,596.23. Next comes storm damage, taking 72 days and costing £3,907.26, with accidental damage coming in at number 3, taking 43 days and £1, 305.03 to repair.
The most expensive claims are for impact (for instance if a car crashed into your holiday home), number 7 on the list, and fire, in at number 5, costing an average of £10,080.34 and £8,142.03 respectively. Meanwhile, it’s impact and malicious damage that take the longest time to fix – an average of 148 days and 133 days – a sizeable chunk of your year.
Holiday homes face different risks to your everyday property. Because you’re not in residence full time, damage can get worse while the property is unoccupied, making things more expensive to fix. It’s also not just the cost of repairs you have to think about – it’s things like lost income on holiday lets if people can’t stay in your property.
There is good news though – if you’re insured properly with a policy designed for your holiday home and how you use it, these costs don’t have to come out of your own pocket. Hopefully looking at our top ten risks will make your next year’s premium feel a little less of a nuisance and a bit more of a worthwhile investment.
