Serviced accommodation insurance sits between a holiday let policy and a commercial one. The property is let by the night or the week, furnished and serviced, often to contractors and corporate guests rather than holidaymakers, and neither a standard landlord policy nor a domestic home policy contemplates any of that.
What the cover has to contemplate
Frequent changeovers and guests with no tenancy. Public liability at a limit corporate bookers will accept. Employers liability for cleaners and changeover staff. Contents cover for furnishings, linen and equipment supplied by the owner. Loss of income after an insured event rather than loss of rent. Accidental damage by guests as standard.
What corporate bookings add
Companies booking accommodation for staff frequently require evidence of public liability at a stated minimum and sometimes employers liability, before they will place a booking. Having the certificate ready is a commercial advantage as well as an insurance requirement, and it is worth checking the limit against what the largest likely booker asks for.
Where owners get caught
Insuring the property as a second home or as a standard buy to let. Both misdescribe it. Also relying on a booking platform's damage protection, which is not insurance, carries its own conditions and answers nothing about the building, the income or a guest's injury claim.
Questions people ask about serviced accommodation insurance
Is serviced accommodation a holiday let?
Commercially similar and often insured on the same kind of policy, though the guests are frequently contractors and corporate bookings rather than holidaymakers.
Do I need employers liability?
If cleaners or changeover staff work for you, yes, and it is compulsory with a daily penalty for not holding it.
What limit will corporate bookers want?
Many specify a minimum public liability figure before placing a booking. Check what your largest likely booker requires before setting the limit.