Damage Deposits
You may take a damage deposit from your guests. Does this damage deposit reflect the excess on your self catering policy?
The self catering insurance will include accidental damage and malicious damage by your holidaymaker (if you are not a client of J L Morris (Insurance Brokers) Limited check with your insurer) subject to an excess of, typically, £100.00 or £250.00.
To keep matters straightforward, the excess and the damage deposit should be for the same amount. It is not the intention that you take the holidaymaker’s damage deposit AND claim from your insurers!
If your holidaymaker causes damage you should be prepared to provide the holidaymaker’s contact details as, understandably, the insurers, once they have paid your claim, may want to recover their costs form the ‘guilty’ party.
Any loss of income arising from holidaymaker damage – perhaps you cannot accept the next booking as you are sourcing / installing replacement items – will be covered by your self catering policy. If you are not a client of ours, you know what to do!
For advice on self-catering insurance, contact: