What to consider when purchasing vacation home insurance

Vacation home insurance

vacation home insuranceThough it’s obvious that when you purchase a home, you will also want to cover it with homeowners’ insurance, many people feel uncertain when it comes to deciding on the coverage required for their vacation homes.

Insuring your summer or vacation home or cottage is extremely important, not only for when you are present, but especially because it is empty for a significant amount of the time. By purchasing adequate coverage, you’ll know that your secondary home and possessions will be covered even when you aren’t there.

Before you purchase your coverage, you should first understand why you are buying the coverage. This will help you to make more effective decisions regarding what types of protection you require. For example, vacation homes are notorious for incidents of theft and burglary because the fact that they are often unattended makes them an easy target for these thieves.

This added protection can help to make sure that whether or not you’re there, you will have the payments you need. After all, if it’s clear that you need coverage for your primary home, then you should know that the secondary one needs it for many of the same reasons – to keep your investment safe!

Beyond theft and burglary, a policy on a secondary home will also give you coverage in the case of storm damage, lightning, and fire. However, unless you purchase an additional policy specific to flood (other than from burst pipes), forest fires, earthquakes, and winter storm damage will not be covered; as is the case with your primary home insurance.

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