Is Your Luxury Home Properly Insured This Holiday Season?

The holiday season is a time for travel, entertaining, and extended time away from home. For owners of luxury properties, it’s also one of the highest-risk periods of the year — yet it’s often when insurance cover is least reviewed.

Standard home insurance policies frequently fall short when it comes to high-value homes, bespoke finishes, and lifestyle risks that become more pronounced over the holidays. Ensuring you have the right cover in place before you lock the door or host a house full of guests can make all the difference.

Why the Holiday Period Increases Risk for Luxury Homes

Luxury homes face unique exposures that intensify during the holiday season, including:

• Extended vacancies while owners travel domestically or overseas

• Increased entertaining, with higher foot traffic and liability risk

• Valuable contents on display, including art, jewellery, wine collections, and designer furnishings

• Seasonal hazards, such as storms, bushfires, power outages, and plumbing failures

Many claims arise not from dramatic events, but from small issues that go unnoticed while a property is unoccupied — burst pipes, electrical faults, or security breaches that escalate due to delayed response.

Vacancy Clauses: A Common (and Costly) Oversight

One of the most common gaps we see in home insurance policies relates to unoccupancy or vacancy clauses.

Many standard insurers restrict or reduce cover if a home is left unoccupied for more than a specified period — often as little as 30 to 60 days. For luxury homeowners travelling for extended holidays, this can result in:

• Denied or reduced claims

• Limited cover for malicious damage or theft

• Exclusions for water damage or accidental loss

Specialist insurers understand that luxury homes are frequently unoccupied and structure policies accordingly — but only if this is addressed upfront.

Rebuilding Costs: Are You Properly Insured?

Luxury homes are rarely straightforward to rebuild. Custom architecture, imported materials, stonework, timber, smart-home technology, and bespoke finishes can significantly increase reconstruction costs.

During peak holiday periods, labour shortages and material delays can further inflate rebuild expenses. If your sum insured hasn’t been reviewed recently, there’s a real risk of underinsurance, even if property values haven’t changed.

A professional rebuild cost assessment — not just a market valuation — is essential.

High-Value Contents Need Specialist Attention

Luxury homes often contain items that exceed standard policy limits, such as:

• Fine art and antiques

• Jewellery and watches

• Designer furniture and lighting

• Wine collections

• Collectibles and memorabilia

Without proper specification and valuation, these items may be subject to sub-limits or exclusions, leaving you exposed at claim time — particularly during holiday entertaining or travel.

Liability Risks Increase Over the Holidays

Hosting family, friends, staff, or events at your home increases the likelihood of personal liability claims. Slips, falls, or property damage can result in significant legal and financial consequences.

High-net-worth insurance programs often include elevated liability limits and broader protections, which are critical for luxury homeowners — especially during social seasons.

A Simple Holiday Insurance Checklist

Before the holiday season begins, consider the following:

• Have you advised your insurer if the home will be unoccupied?

• Are your rebuild and contents sums insured up to date?

• Are valuable items correctly listed and valued?

• Does your policy allow for extended travel without penalty?

• Is your liability cover sufficient for your lifestyle?

Peace of Mind Starts with the Right Advice

Luxury home insurance is not one-size-fits-all — and the holiday season is not the time to discover gaps in cover.

At Luxsure Insurance, we specialise in protecting high-value homes and the lifestyles that come with them. Our tailored approach ensures your cover reflects how you actually live, not just what’s written in a standard policy.

Before you head away or host this holiday season, a simple review could save you significant stress later.

Enjoy the holidays — knowing your home is properly protected.