For short stays with SearchandStay, your best option is probably to go with a holiday let insurer. There aren't currently many providers on the market, but one to look at is Share Cover.
If you plan on renting out your place for longer than 90 days, you'll need to look for a policy like landlord insurance.
You can compare various home insurance choices before selecting an option that works for you.
What's covered under these policies?
These types of insurance are a little like extensions for your standard home and contents cover. With it, you can be covered against:
- Malicious and accidental damage caused by tenants and their guests
- Theft by tenants and their guests
- Loss of rental income if a tenant defaults on payment
- Loss of rental income if your property is left uninhabitable following damage
- Loss of rental income if something happens to the tenant so that they are unable to pay
- Changing keys and locks if a tenant doesn't return the keys
- Loss of rental income if your property is left inaccessible and unrentable for reasons beyond your control
- Legal expenses incurred while taking certain actions against tenants
- Legal liability, such as if guests slip and fall, die, or otherwise hold you legally liable for their injury, death or property damage
- Damage to property contents that have been provided for guest use
What may not be included in these insurance policies
There are a few exclusions with landlord or Holiday let insurance cover:
- Water damage caused by creating an opening made to renovate or extend the property
- Poor housekeeping habits of your tenants
- Standard wear and tear, rust or mould
- Damage because of insects or vermin
- Repairs made by the tenant that you permitted
- Under landlord insurance you won't be covered for Airbnb or Stayz
- You won’t get cover if you are only renting out a room while living at the property