Legislate has partnered with Pikl Insurance Services, an award winning, specialist broker that arranges both Short-term Letting insurance and traditional Home / Landlord insurance.
According to research conducted by Pikl, many standard home insurance policies may not provide cover if the property is let out to paying guests on a short-term basis, meaning the policy could be invalidated if this hasn’t been disclosed to the insurer. Even if the insurer doesn’t cancel the policy, key aspects of cover in relation to claims caused by the guests are often excluded. This could potentially leave the property owner exposed for claims such as:
- Theft by a guest
- 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, as their flagship insurance product has been specifically designed to cover this potential gap in cover for property owners.
What products can I get from Pikl?
Home Insurance – if you need to protect your main residence, or a second property you use as an occasional holiday home, against incidents and damages which have not been caused by short-term guests, then Pikl can help via their panel of top UK insurers, through the provision of standard Home insurance policies which protect the Buildings and/or Contents.
Landlord Insurance – if you are planning to have long-term AST tenants in a property you own, then Pikl can help via their panel of top UK insurers, through the provision of Landlord’s insurance to protect the Buildings and/or the Landlord’s Contents.
Pikl Host Insurance Top-Up – Designed to work alongside an existing Home / Landlord insurance policy, this product provides cover specifically for incidents related to having short-term guests in the property. Various options are available dependent upon how much short-term letting you are planning to undertake each year.
Pikl ‘All In One’ – as Pikl work with a panel of top UK Insurers, they can also provide a policy which offer both the standard Home / Landlord buildings and contents insurance covers, combined with Host insurance protection to cover any damages caused by short-term paying guests. This means that both the home and hosting are covered under one policy with one renewal date.
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What does Pikl’s Host Insurance Cover?
Pikl Property Host Insurance covers many types of short-let 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?
Home / Landlord insurance will be underwritten by one of Pikl’s panel of insurers, which includes Axa, LV, and Prestige.
The Host 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?
Visit Pikl to obtain a quotation in just a few minutes. Alternatively, you can call the Pikl team on 0800 254 5171 quoting Legislate Technologies Limited.
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.
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