Secondary Home Insurance

If you own a seasonal or secondary home, it is important to consider the risks and insurance costs that come with it.

Cost to Insure a Seasonal or Secondary  Home:

To insure a seasonal or secondary home an  independent home insurance policy needs to be purchased for the seasonal residence. The premium will be priced based on the same factors as any other home – the replacement cost value, occupancy, the deductible you choose and other applicable risks .

Ways to Lower Your Seasonal/Secondary Home Insurance Premium:

There are ways you can save on the insurance premium of your seasonal or secondary home. Improvements made to the home can help you save on your premium. For example, policyholders get a discount for homes with a central alarm system. Making a home more secure mitigates the risk of something happening to it and reduces the likelihood of the policyholder needing to filing a claim. Remaining claim-free is very important to keeping the cost of your home insurance premium down.

In addition to the discounts a primary residence would receive, a home insurance policy for a vacation home may qualify a policyholder for a bundling discount.

Additional Coverages:

In addition to a home insurance policy for your secondary residence, you should consider whether you need flood and earthquake insurance coverage for it. Flood and earthquake damage are not covered by standard home insurance policies but might pose a serious risk to our vacation home, depending on where it is located.