Over the years, various members have found it beneficial to suggest to their clients that they take out holiday insurance to cover themselves for losses incurred due to cancelling accommodation that they have booked. This particularly applies to longer bookings and more for self/catering. There are several companies that offer this but one specifically that is known to us is called Rothwell & Towler. They will supply you with their leaflets and application forms which you can then send out with your own booking information. As a small incentive they offer you 20% of the premiums they collect, which they usually pay out at the end of the year and makes quite a nice little bonus.
With the new laws, there is only certain wording you can use when you make this offer and it is important that you do not recommend any particular company as you are not regulated under the Financial Services Act. Rothwells will give you examples of wording that you can insert into your terms and conditions, but here is an example:
We remind you that your accommodation booking is a legally binding contract. In the event of cancellation we are entitled to retain your deposit and ask for a further payment to compensate us for our loss. For your protection we suggest that you take advantage of holiday cancellation insurance.
If you are interested in pursuing this, please contact and mention that you are a member of the Tourism Association (we will not be gaining anything from this!):
Direct Line: 01404 548 661