The process of finding insurance for vacation homes can be a complicated process. Insurers seldom jump at the chance to insure these “risky” investments. So, why are vacation homes so difficult and expensive to insure?
Many vacation homes are located in areas which are particularly at risk for what is known as, “acts of God,” such as hurricanes, wind, and flood damage.
Other vacation homes, if not rented, are left vacant for long periods of time. This could result in a greater risk from thieves and vandals. At the same time, vacation homes, which are rented when the owners aren’t using them, also present problems of theft and vandalism, plus liability claims.
So how do you get the protection you need for your vacation home? In this case, it’s even more important to compare insurance options. Vacation homes will cost more to insure than your average similarly constructed house because of the risks.
However, like other insurance products, companies have different ways of measuring risk proportionate to premium. Talk with your insurance agent, Brazelton Insurance Group may be able to suggest options you wouldn’t have thought of and suggest how to reduce risks.