Luxury Villa for rent and guest insurance
Villa owners are increasingly aware of the possible consequences of an accident in their luxury villa and are increasingly contracting insurance policies – both, insurance of the property as such and things in it, and liability insurance in case something happens to the guest during his stay in the luxury villa for rent. Guest insurance can be contracted by all persons, whether legal or natural, who are the holders of solutions for the provision of accommodation services in the household. Legal entities are obliged to have insurance, while natural persons are given the choice. However, due to the specifics of the market and the damage that occurs, most insurance companies have developed special packages that include all possible damages, from physical damage to damage to guest property or damage to your luxury villa.
Guest liability insurance
If an accident occurs to the guest during the stay in the holiday home and the owners liability for the accident is determined, the renter is obliged to pay compensation for the accident or damage to the guest's property. Consequently, there are several types of liability of the landlord: liability for the property of the guest, liability for injuries to the body or health of the guest, liability for permanent disability and liability for the death of the guest. If the insured risk occurs in the specified villa, the insurance is valid for the payment of the contracted damage. Accident insurance for guests mainly covers the risks of permanent disability or death of the guest as long as injuries or damage to property are not included in this insurance policy.
Insurance of real estate and / or things in it
As far as the insurance of the luxury villa for rent and the related property in it is concerned, it is a matter of damage to the luxury villa and / or things in it, whether it was made by the guest or due to a higher case. Property insurance enables the protection of the luxury villa from danger, that is, the protection of the villa owner from sudden and often high costs caused by an adverse event that usually results in large and expensive material damage. This type of insurance is one of the oldest types and is quite logical given the unexpected situations that can occur. This type of insurance includes insurance of things in the villa for rent such as furniture, appliances, clothing and footwear, money, jewelry, art, wall and floor coverings, blinds and glass on windows and doors, but also includes the construction part of the property. This includes all parts of the property such as tiles and parquet, installations such as elevators, boilers, air conditioners and solar panels and ancillary facilities such as swimming pools, fences, canopies, etc. When contracting this insurance should be careful because not all things and installations are included under insured items, so you need to pay close attention to what you actually want to be included and insured.
Damage to the holiday home by a guest or force majeure is not uncommon and our advice is to contract an insurance policy for both - liability to the guest and the villa itself - as this gives you security and solves the problem of unpredictable costs which can be very high. Also, these situations can create additional stress which can be, at least partially, reduced by knowing that you are insured!
Home Rent Agency always advises all its clients to insure their holiday homes. If you are also the owner of a villa in Croatia and you are engaged in renting, be sure to become part of the Home Rent agency's offer. You can find more useful tips on managing and renting villas in Croatia on our blog page Croatia in style.