Vacation/Seasonal Home, Camp Cottage

Buying a vacation, seasonal home, camp, cottage or rental property can be exciting, but confusing. Whether you are traveling from one city to another for work where you need a second residence, or you finally saved up that last dollar for that prized vacation home by the lake, or you want some extra income and are planning on buying up some property to rent out to tenants, you need insurance for any losses. 

Generally speaking these types of second home dwellings will be like insuring your own personal living dwelling, or primary residence and it will come with customizable coverages to meet specific needs. 

Some Coverage Options-

- Some primary homeowners policies will cover your vacation/ 2nd dwelling

- There are specific limiting factors to consider when it comes to risk and cost that you can take to cut down on

- If you are renting your vacation home this comes with its own set of specialized coverages to consider

- Coverages depend on the cottage, camp, vacation or 2nd home usage

-Multi-properties under 1 policy

   - Blanket insurance-

Especially useful when owning more than one rental property!

-Renting 

If your 2nd home is a vacation home possibly consider renting it out when not using it, especially if in a highly desirable location. Keep in mind rentals call for expanded insurance coverages. 

If you are considering a landlord policy keep in mind these come with a little higher price tag as you now have others living within your dwellings posing a higher risk. The higher risk coverages include-

     - loss of income claims from loss of use

     - structural damage coverage

     - tenant liability coverage

    - more extensive homeowner insurance coverages

    - note- landlord/ rental dwelling policies cover YOU/ NOT the Tenants- they may need to get rental insurance.

- Potential Costs & Risks when seeking a second home have a lot to do with the location of the dwelling. Such as is the neighborhood safe, is the home on a mountain prone to avalanches or are you on the ocean. All these could make or break your insurance premium costs.

-You must consider your amenities as well such as-

   - pools

   - pets

   - hot tubs

   - trampolines

All these contingencies could potentially cause a rise in your insurance premiums. When shopping around for your second homes insurance be sure to consider the Hurst Hofer Agency Inc. where we work with the top notch insurance providers to get you the best coverages at great rates. 

We will help you consider all the risks you face within your environment along with what type of second home you are choosing. We here at the Hurst Hofer Agency Inc know how to help you manage your risk to keep your costs low to get you into your vacation home of your dreams. Call us today for a free quote at 315-457-3580!

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