Factors to consider when insuring a secondary home.
Getting insurance for a property that serves as a vacation home (not your main residence) can feel confusing, so here are a few basic guidelines and points to consider.
The difference between secondary and seasonal homes.
The precise definition of a seasonal and secondary home can vary from insurer to insurer, so be sure to ask us about it. Generally, there are two different types of vacation homes. A secondary home is one that you only stay in for short periods of time. A seasonal home is one where you may have a longer stay but only at particular times of year.
What makes it unique from your home insurance policy?
The general principles of vacation home insurance are the same as homeowners insurance. However, there are two differences. One is that a vacation home is more likely to be unattended for extended periods, increasing the risk of burglary as well as both the risk of and potential damage from fires or flooding.
Lower coverage limits overall.
On the other hand, coverage limits will often be lower at a seasonal or secondary home, simply because you likely keep fewer and less valuable possessions in a vacation property, particularly when it’s unattended.
Because of these two factors, it’s well worth taking the time to find a vacation home insurance policy that provides you with the specific coverage you need at a fair price. We’ll help guide the way.
