YorGuest Ltd has a long-standing relationship with Pikl Insurance. Pikl are an award winning, specialist broker that provides insurance for short-term letting.
According to research conducted by Pikl, many standard home insurance policies may not cover letting out your property to paying guests on a short-term basis, meaning your policy could be invalidated if this hasn’t been disclosed to your insurer. Even if your insurer doesn’t cancel your policy, key aspects of cover in relation to claims caused by your guests are often excluded. This could potentially leave you exposed for claims such as:
- Theft by a guest if you let them into your home
- Public Liability insurance for any guest injuries or damages to another property
- Accidental or malicious damage caused by a guest
- Legal cover to pursue or defend a claim
This is where Pikl can help, their insurance products have been specifically designed to cover this potential gap in cover for property owners.
What products can I get from Pikl?
Pikl Host Insurance Top-Up – Designed to work alongside your existing home insurance policy and provides cover specifically for guest-related incidents. Various options available dependent upon how much short-letting you are planning to do.
Pikl ‘All In One’ – Pikl work with a panel of Top UK Insurers to provide your standard home buildings and contents insurance plus Host insurance cover for any guest-related incidents – So both your home and hosting are covered under one policy with one renewal date.
What does Pikl’s Host Insurance Cover?
Pikl Property Host Insurance covers many types of holiday properties from houses, flats and bungalows that are rented out as entire properties. If the worst happens when a guest stays at your property, Pikl can cover you for things you may not be covered for elsewhere including:
- Public Liability cover up to £2 million per event for guest accidents involving bodily injury.
- Legal Expenses cover up to £50,000 to defend or pursue legal claims against guests.
- Sums insured of up to £1m for Buildings and £75,000 for Contents for guest related damage to your property.
- Accidental and Malicious Damage cover up to £80,000 for Buildings and £40,00 for Contents if caused by a guest.
- Theft or attempted theft cover up to £20,000 for both Buildings and Contents if caused by a guest.
- Alternative accommodation for you or your guest if your property is being fixed as the result of a guest related claim.
- Fire and escape of water damage caused by a guest.
- Loss of keys and replacement locks cover if renting out your entire property.
What are the benefits?
- Repairing property damage, yourself or replacing items can be time consuming and expensive if your insurer won’t cover you. Having specific insurance for hosting guests can save you from incurring serious out of pocket expenses and save you a lot of stress.
- Alternative accommodation for you or your guests could be vitally important if your property was damaged. You can have somewhere to live if needed and having a place for guests to stay means you don’t need to lose income when a claim occurs.
- Serious injury claims can cost millions of pounds in lifetime care and damages. If this happens to your guest, having public liability insurance can save you from incurring significant costs and legal hassle.
Who underwrites the insurance?
The insurance is underwritten by First Underwriting on behalf of Accredited Insurance (Europe) Limited – UK Branch for all sections except Legal Expenses which is provided by ARAG plc and is underwritten by AmTrust Europe Limited.
First Underwriting Limited is registered in England & Wales, Company Number 07857938 and is authorised and Regulated by the Financial Conduct Authority under Firms Registration Number (FRN) 624585.
AmTrust Europe Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
What to do next?
Click here to obtain a quotation in just a few minutes. Alternatively, you can call the Pikl team on 0800 254 5171 quoting YorGuest.
Please make sure you carefully read all of the insurance documents you are provided with, so that you understand what cover the policy provides, including any exclusions and limitations.