Vacation & Secondary Property Insurance

Vacations and Secondary homes provide a wonderful respite for clients who can afford them. They also face much higher insurance risks than primary residences because the homeowners don't reside there full time. Properties that are vacant for weeks or months at a time face exposures to theft, vandalism, and easily overlooked damage like leaks, making the homeowners policies that cover them more expensive than standard policies. 

vacation cabin

How to Lower the Cost of Vacation Home Coverage

Because secondary home coverage can be expensive due to higher risks of it being vacant, there are things homeowners can do to lower these costs.

  • Policy Bundles: Some insurers may lower the cost of a clients second home if they bundle the coverage with their primary residence.
  • Price Shopping: Independent agents should get several quotes for homeowners from several different carriers to see price differentials. Also agents should re-quote the homeowner at renewal to make sure they are still getting the best deal.
  • Alarm Systems: Alarm systems are seen as valuable editions to secondary and vacation homes since the home is not monitored by the homeowners presence 24/7. This can deter burglary and theft, making the risk exposure less prominent to the insurer.