We are new to AirBnB and just setting up. Any advice on Home Insurance as the quotes we are getting seem very high compared to what we are used to. We only have a small self contained annex that we are letting but the quotes seem to add more than £300 to charge and most invalidate our accidental damage, even within our portion of our home that guests can’t access. It seems to take and hour each time to work through each insurance company to get a quote so it’s getting painful. Any top tips on who to go through in UK?
You could give Towergate a try, they do a lot of LTR and STR policies.
My Airbnb is a separate building in our grounds. Our house insurer is Ecclesiastical (because our house is pre-1400 and that’s the only company we could find to cover such an old property). When we asked about doing holiday lets, they said the existing insurance would cover it.
Ecclesiastical mainly does churches and stuff and I suspect they’re more trusting than other companies. But it might be worth trying them?
Oh, and welcome and good luck!
Welcome to the Wonderful World of Airbnb,and more importantly this forum!
I have just moved to Adrian Flux from Towergate, who @JohnF mentions. Although they are lovely to deal with, they are brokers, and I had a bad experience with them a year ago when we suffered storm damage to an old chimney stack.
Despite being able to prove that the stack was damaged in wind gusts of 55 mph, with local weather station reports, the loss adjuster claimed the stack was poorly maintained. I was able to disprove this, with a report and relevant certificate from the firm who installed a flue for a wood burner a year earlier, who would clearly not have done so if the stack was in poor condition.
Towergate said they would fight my corner, nor would I be penalised for making an unsuccessful claim if that’s what it came to. Then they went quiet.
I lost the claim, and my premium quote went up more than £300 for this year. Adrian Flux came in at about the same as last year with Towergate, despite the hit of having (failed) to make a claim last year. Their satisfactory quote covered both buildings and contents.
I’m not sure if I trust any of them any more, but I wish I’d know of Ecclesiastical though. I feel for the people who are suffering such dreadful flood/storm damage at the moment.
We also have an annexe we use for STR. We are insured through Midas Underwriting and have just renewed in December. Their policies are very good in my opinion but are only available through a broker (who was able to get the premiums held at renewal). We were previously with Now 4 Cover but their premiums were high and were set to increase drastically, with no haggling entertained. Before going with a broker I did obtain quotes from Towergate and a couple of others. Overall, Midas was the best option for us.