Even though you don’t live there year-round, it is a smart idea to have good coverage on your vacation property.
For the most part, insurance coverage for a holiday home works the same as the coverage on your primary residence. There are, however, a few key differences in the type of coverage you can select for a second home based on how often and for what purpose you use the property.
Some things you will want to consider when deciding which coverage is right for you include:
1. Do you only use the property during the summer months?
2. Do you make regular weekend visits?
3. Do you rent to other occupants throughout the year?
Keep in Mind:
1. In contrast to the comprehensive policy on most primary residences, insurance coverage for a holiday home typically includes Named Perils coverage instead of All Risk coverage. This limited coverage only insures … Read More