What to Consider When Insuring Your Vacation Home
Do you have a vacation home that you make the most of when the summer arrives? Whether it’s a beach house or cabin in the mountains, just like any residence, your property will need to have the right homeowners insurance. Because such a property may not be lived in for three quarters of the year, it still deserves reliable and adequate coverage. A vacation home’s needs are very different, so it pays to understand how to protect it properly.
Second homes present more of an insurance risk than your primary residence – the fact that you don’t physically occupy your second home as frequently puts it in more danger for theft, vandalism, and easily undetected damage, such as a burst water pipe. If you already have a homeowners policy, it’s a good idea to find out whether your policy can cover a second home. If it does, then you may not need to purchase a new policy for your vacation home or investment property.
The amount of coverage your second home should have will depend on a few things. Firstly, if you are going to be renting it out, you may need a more comprehensive insurance policy that will cover the cost of replacing the entire home if the worst happens. It’s also a good idea to ensure that you have enough personal liability coverage. Finally, you may need to supplement your insurance for coverage for events like hurricanes, floods, and earthquakes.
Need help finding the right insurance? Talk to the experts at Nahai Insurance Services to get started on your vacation home policy!