important to consider the risks
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.
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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
save on the 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.