How to insure holiday homes renovations with Renovation Underwriting
You might not have ever thought about it, but holiday homes undergo renovations too - and our Geo colleagues at Renovation Underwriting are well placed to insure project works in a holiday home property.
You might not have ever thought about it, but holiday homes undergo renovations too - and our Geo colleagues at Renovation Underwriting are well placed to insure project works in a holiday home property.
If you know of a client looking to renovate a holiday home, here's what to keep in mind:
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Insurance for holiday homes undergoing renovation could be classed as either commercial or residential
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Whether owned by a private client or property developer, Renovation Underwriting can underwrite both (their underwriters just rate it accordingly)
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If the intention is for the home to be let out to the public once works are finished then it will fall under the ‘Renovation Asset’ product
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If the property is set to be a second home type of holiday home that the client would themselves visit (and perhaps extend to include their own family members visiting), then it would likely be insured under the ‘Renovation Master’ product
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Although please note that holiday homes that are mobile homes/static caravans (or similar) would be a decline for the Renovation Underwriting schemes.