How to Properly Insure Your Vacation Home

vacation home - insuranceInsuring a seasonal vacation property can be much different than getting coverage for your primary residence and unfortunately, it also can tend to be more expensive. While it may be possible to extend your coverage on your current homeowner’s policy, it is more likely that you will need a new policy altogether.

Luckily, the insurance team at Cornerstone Preferred knows that all you want to do in your vacation house is sit back and relax, which is why we’re here to help! Let us take care of all the coverage for you so you don’t have to worry about anything.

What You Need to Know About Vacation Home Insurance

Increased Risk

Most vacation homes are more expensive to insure because they are deemed riskier. This may be due to several factors:

  • the location is on a beach/lake that is prone to flood and water damage or in a remote mountain area that gets frequent wildfires
  • nobody is living there for much of the year so the house is more prone to break-ins and theft
  • issues with the house such as water leaks, or pipe damage may go unnoticed and cause excessive damage when not taken care of quickly
  • amenities such as pools or hot tubs have additional insurance

Coverage

Coverage is usually limited to “named perils”, which means that it’s only covered against things that you specifically name in your policy, like smoke damage, explosions, theft, etc… If there is something on your policy that isn’t listed, then it probably won’t be covered. To get additional insurance coverage, you can add personal property coverage and a personal umbrella policy. Depending on the area, you may also wanted to purchase flood and/or earthquake insurance.

Rentals

Many people choose to rent out their vacation homes when they are not using it, which can result in additional coverage. This will depend mostly on how often and how long you choose to rent out the property. For example, a one time rental for a short period of time could qualify for an extension, while regular rentals may need a commercial business policy.

Talk to Our Insurance Agents about Vacation Home Insurance

The best thing you can do is talk to one of our agents about your situation and your goals for your vacation home. We will shop hundreds of different policies to select the right one for you and we do it at NO extra charge. Our agents get their commissions from insurance providers – there is no extra charge to you. In fact, we often can find you better deals than you can find online as we have access to special policies.

Get a quote with one of our insurance agents in Glendale and Santa Clarita today. You can do it online or by calling (888) 840-4020.

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