Is There Any Insurance For Your Vacation Home?

Buying a vacation home can be financially challenging. Nonetheless, are you ready to protect your new investment? Owning a vacation home can be among your most important financial goals in life. But aside from that, you still want the best coverage to secure this asset. But the question is, can you purchase insurance for it? 
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This article will walk you through the technicalities of buying insurance or knowing your insurance coverage for your vacation home. Keep on reading!

What Is Vacation Home Insurance?
With vacation homes, you can take a break from work and relax at your place. This secondary home of yours is considered a higher risk since it’s not occupied all year-round. So you need to purchase insurance for it called vacation home insurance. This type of insurance covers a home you own even though you don’t live in it. 

What Does It Cover?
A vacation home insurance policy may not cover the same things that a typical homeowners policy would cover. Below are incidents that the insurance may cover;

• Fire and smoke
• Vandalism
• Theft
• Explosion

The liability coverage can also be included in the vacation home insurance. For example, if one of your guests gets injured on the property, the coverage will help pay for your guest’s medical costs. 

What Are The Things To Consider?
Vacation home insurance can be expensive compared to traditional homeowner’s insurance. There are factors to consider which will affect your premium;

A. Property’s Location
If the second home is located where natural disasters happen, the insurance may be quite expensive. Examples are earthquake and landslide-prone areas. Even tsunami and forest fire areas may cost a lot. 

B. Type of Property
Vacation homes located in the woods may be cheaper compared to a vacation house by the beach. The risk is higher for bigger properties as well. Adding more properties within the second home, like a barn, may also add to the price.

C. Property’s Condition
Your property’s condition matters. A well-maintained vacation house will be more costly to insure than an old cabin, for example.

Conclusion
Yes, you can insure your vacation home! Vacation home insurance is the best choice. The coverage you put in won’t go to waste, and you don’t have to worry if you leave the property unattended. On your next visit, you’ll be more comfortable staying knowing your asset is protected.

At Robert Nichols Insurance Group, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about what our policies cover and the services we offer by calling our agency at (561) 406-6153. Get your free quote today by CLICKING HERE.