Holiday let insurance is a specialised policy for property owners who rent out their homes temporarily to guests. It offers protection against the unique risks of frequent turnover that standard home insurance won't cover.

Standard home insurance won't cover you for commercial use of your property. Commercial use can be as major as letting a room, or as minor as letting your driveway. Both these things will make your standard home policy void.

It's also likely you won't be covered for theft where there was no forced entry. So if a guest swipes an ornament while staying at your property, you'll be left in the lurch.

Having dedicated cover can protect you against light-fingered guests - and lenders may also require this type of cover for mortgaged properties.

Holiday let insurance typically includes building insurance (for the structure), contents insurance (for furnishings), and public liability cover (for guest injuries).

Let's take a look at the type of things you're likely to see covered on your policy:

• Escape of water caused by a guest

• Fires caused by a guest

• Accidental damage caused by a guest

• Third-party property damage caused by a guest

• Malicious damage caused by a guest

• Third-party property damage caused by a guest

• Loss of rental income

Public liability insurance is an essential cover that protects against financial loss from trips, slips, or illnesses arising from your holiday property. For example, if a guest trips on a loose paving stone and breaks their arm.

It also covers your guest's property if it gets damaged due to negligence on your premises. For example if a pipe bursts and ruins someone's clothing.

This type of insurance is crucial, as it can protect against bankruptcy or financial strain if a guest files a successful claim against you.

Holiday let insurance is for properties rented out to paying guests, whereas holiday home insurance is for personal use. For example, as a second home.

The risks are different for each type of property, which is why it's important to have separate insurance policies.

Holiday let insurance includes public liability, which protects against claims from guests who get injured. It also acts as a safeguard against any guest-related damages. Holiday let insurance can also compensate for loss of earnings if the property becomes uninhabitable due to an insured event.

There are a number of factors that influence the cost of holiday let insurance:

• Property location: Different areas have different insurance costs, so the price could be higher or lower depending on where your holiday let is.

• Rebuild cost: This is the total amount of money needed to completely rebuild the property from the ground up.

• Security on the property: Increased security measures on the property could see your insurance price go down.

• Sum insured for contents: High-value contents will affect the sum insured for your contents.

Yes, you can get holiday let insurance that includes buildings and contents cover. You can buy these as separate policies or as a combined policy.

Buildings insurance safeguards the structure of your holiday home, including its walls, roof, and built-in fixtures. It protects against damages from perils like fire, storm, flood, and vandalism. Buildings insurance is typically required by mortgage lenders.

Contents insurance covers the furniture, the appliances, and other possessions in the holiday let. Say a TV gets smashed - contents insurance can help cover the cost of its replacement. You might want to consider high value contents insurance if you have expensive items in the holiday let.