Regardless of whether your vacation property is a home on the lake or a cabin in the mountains, it is great to have an intimate location to getaway from the city for the summer and winter. However, because a second property is a significant investment, you need to make sure it is thoroughly protected. You can do this with seasonal homeowner's insurance. Here are a few reasons why this type of property coverage is to important.
It Can Help to Protect Against Natural Disasters
Weather is by far one of the most unpredictable things in the world, and similar to your primary home, your vacation property is vulnerable to damage that can be caused by rain, wind, hail, snow, and ice. To help protect your second property against the elements and natural threats, seasonal homeowner's insurance will pay for roof repairs, interior home repairs, and exterior home repairs.
It Can Help Replace Stolen Belongings
This insurance coverage can also protect your property in the end that vandalism or theft occurs. Since you are not always present at your vacation home, there is a chance that vandalism and theft can occur. In fact, it is more likely to occur. In the event that items are stolen for your vacation home, your policy will likely replace those items that are stolen. Some of these belongings may include furniture, appliances, and television. As a general rule, the replacement value of the belongings will be determined by the value of the piece at the time it was stolen, but this will depend on the terms of your individual insurance plan.
It Can Offer Bodily Injury Protection
It is not uncommon for you to have ATVs, boats, jet skis, etc. at vacation homes. However, in the event that an injury is sustained while partaking in activities on these pieces of recreational equipment, there are certain home insurance policies that will not provide adequate coverage. With seasonal homeowner's insurance in place, protection can be expanded beyond those standard limits. This additional coverage can help with covering medical expenses for any guests on the property, although it will not cover the policyholders themselves.
If you vacation property or are considering invested in a second property, it is in your best interest to consider purchasing a seasonal homeowner's insurance policy. For more information on how this type of insurance can benefit you, reach out to a homeowner's insurance agent near you.
Share16 July 2020
I still remember the first time I had to chose an insurance policy; I was 17 years old and had just saved up enough money to afford my very first car. I was so excited to begin driving, but overwhelmed with all of the different auto insurance options. My father helped me chose a full-coverage policy that would cover the cost of my car if it were to become damaged in an accident. When I inevitably caused a small fender-bender as a new driver, my insurance company paid for my car repairs, so it sure was the best policy for me! Now that I am older and have learned a lot about home insurance and other types of insurance, I thought I would make a blog to help others who need insurance advice, like what my dad gave me. I hope I can help you make wise insurance decisions!