Not your usual holiday let situation ...Insurance advice.

[Kgreen]

Hi there,

I am setting up a holiday cottage business at the moment, however - the property in question I actually do not own, it belongs to my mother in law. I am funding a full renovation and paying her 'rent' to use the property which will be solely for holiday makers, available all year round. I will run myself (no agencies).

I know this isn't the normal set up, so I am worried about insurance being a problem. Does anyone have any advice on how I can make sure we are appropriately covered?

Thank you.

K

[Cymraes]

Speak to one of the specialist holiday let insurers - there are plenty of threads here on LMH.

I use Intasure myself but you'll find plenty of recommendations. Then you'll need to contact them and see what they say.

[Mas Nialgue]

You have no insurable interest in the building which should be insured in the name of your mother in law as she is the owner.

You should however insure the tenants improvements (renovation costs) along with the contents in your name, as you have paid for these.

Suggest you contact a specialist broker who will give you full advice and find the best deal available.

[Kgreen]

Brilliant, thanks guys - I'll do that!

K

[JanB]

You will need to get proper holiday tenant cover and they can be reluctant when you don't own the property. The cover needs to be specifically for holday rentals and include public liability.

We used Schofields on a property we did not own but rented from the owner and then ran as a holiday let.

Good luck with the new venture!