Insuring Your Seasonal, Vacation and/or Secondary Home
As with any home, vacation or second homes need to be insured. The risks are different, so the coverage may have different costs than primary home insurance. Before you invest in a vacation or second home, you should be aware of the cost to insure it.
Since you don’t spend as much time in a vacation home as in a primary residence, the danger of theft, vandalism, or damage such as fire or burst pipes are a greater risk. If you plan to rent out the vacation home, there may be cost.
Bogle Agency Insurance personal lines specialists are always ready to advise you
about the risks and costs involved with insuring your vacation or second home. We also represent the leading carriers, like for instance Chubb who specialize in these kinds of property risks.
Factors That Impact The Cost Of Vacation Home Insurance
LOCATION
Where the second home is located makes a difference in insurance cost. If it is in a flood, or earthquake-prone area you will need to consider coverage.
TYPE OF PROPERTY
Whether your vacation home is a stand-alone house or a condo or townhouse makes a difference. If the vacation home is a condo and is maintained by a homeowners’ association providing some security, your insurance cost may be lower. The age and kind of building materials used for the house may also be factors considered for your vacation home.
EXTRA AMENITIES
If your vacation home has a pool or maybe a hot tub there can be added risk. Additional liability
insurance may be something to consider.
How You Can Save Money on Second Home Insurance
You can be judicious and choose a location with lower risk – a little farther from the beach, for instance.
By insuring the vacation home with the same insurer that provides coverage on your primary residence may lower cost. This is known as “bundling” policies.
You can install an alarm system – one that detects both fire and break-ins and this might lower the cost.
Of course, we can also shop around for the best quote on your vacation home insurance.
Talk To An Insurance Expert
Bogle agents are available to give you sound advice on the best coverage and best prices for insuring your vacation home. Our aim is to make the insured have peace of mind about coverage, for the lowest cost. Call us today at (201) 939-5378, or come in for a consultation at 200 Stuyvesant Avenue, Lyndhurst, NJ.