Call Us (561) 994-0880 ☰ ˟
(561) 994-0880 info@parkassociates.com
Park & Associates
Client Portal  Request a Quote
  • HOME
  • ABOUT US
    • About Us
    • Employee Directory
    • Location Map
    • Privacy Policy
    • Testimonials
    • Giving BackImage of right arrow
      • Mission Trip to Haiti
  • CUSTOMER SERVICE
    • Client Portal
    • File a Claim
    • Request Declaration and Coverages
    • Request ID Card for Auto Policy
    • Request Proof of Insurance
  • MAKE A PAYMENT
  • RESOURCES
    • View our Blog
    • Insurance Glossary
    • Newsletter Archive
    • Refer a Friend
    • Request A Quote
    • Proof Of Insurance
  • CONTACT
    • Contact Us
    • Join Our Newsletter
    • Join Our TeamImage of right arrow
      • Join Our Team
Association Insurance Icon Business Insurance Commercial Real Estate Insurance Icon Association Insurance
Preschool Insurance Icon Preschool Insurance
Contractor Insurance Icon Contractor Insurance
Homeowners & Car Insurance Icon Automobile Insurance Flood & Umbrella Insurance Icon Homeowners Insurance 
Home > Blog > How To Insure Your Second
FRIDAY, NOVEMBER 2, 2018

How To Insure Your Second Home

Vacation House

Each home you own is valuable. As a result, each property should have home insurance for it. Buying a second home can be a fantastic investment, especially if it is for a vacation home. But, each property has its own risks and needs homeowners insurance coverage based on how you use it.

Finding the right insurance policy for a second home takes several steps. Consider the following.

Key Factors That Determine What Insurance You Need

Your second home needs comprehensive insurance. This includes liability, structure, and contents protection. But, second homes also have a few concerns to think about, such as:

  • Location. Is the second home in an earthquake or flood-prone area? This may require supplemental coverage to a basic home insurance plan.
  • Type of property. Condos and townhomes require different insurance than full residential properties.
  • Amenities. A pool, for example, may require more coverage to minimize its higher liability risks.

Here are some other items to consider.

Do You Plan To Rent The Property?

Some people purchase a second home to use as an investment property. Renters pose a different risk to homeowners than others. As a result, you need a custom policy designed for renters. In this case, the investment policy needs to cover the structure of the home. If you own the contents of the property, this, too, should be in the plan. Rental property is a higher risk because you do not see or enter it daily. However, home insurance for these homes tends to be affordable.

Ensure that renters also carry their own renters insurance. This can help them to safeguard their liabilities and property within the space.

Do You Plan To Leave The Home Unoccupied?

Another factor to consider is how often you will be at the home. Some insurance companies ask when someone will use it. For example, do you plan to use it each weekend? If so, there is less risk present than if you used it just once every few months. Your agent sees an unoccupied home as a risk. There is no one there to monitor its condition. It also poses a security risk.

The good news is home insurance can be easy to obtain. Your Park & Associates agent will work with you to determine the value of the property. If you have a loan, the agent will ensure you have enough coverage to meet the loan's requirements. Do you own a cabin in the woods? Perhaps it is a condo on the beach. In all cases, property insurance minimizes financial loss should something happen. You need a policy customized for your home based on the way you use it.

Posted 11:00 AM

Tags: home insurance, park and associates
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017

  • park and associates(28)
  • coverage(14)
  • business insurance(12)
  • insurance(11)
  • home insurance(9)
  • protection(7)
  • auto insurance(5)
  • car insurance(5)
  • commercial property insurance(3)
  • community association(2)
  • epli(2)
  • park & associates(2)
  • cyber liability insurance(2)
  • workers compensation insurance(2)
  • condo association insurance(2)
  • building ordinance & law coverage insurance association(2)
  • general liability insurance(2)
  • renters insurance(2)
  • homeowners association insurance responsibilities(2)
  • 2020 covid-19 insurance high premium cyber attacks and insurance(1)
  • insurance rates high; florida; homeowners rates(1)
  • how to calculate business income property insurance(1)
  • hurricane tips florida storm(1)
  • workers compensation(1)
  • property owners insurance coverage needed building ordinance or law(1)
  • personally identifiable information(1)
  • environmental impairment liability insurance pollution(1)
  • employeer liability(1)
  • valentines day(1)
  • texting(1)
  • reading(1)
  • crime coverage(1)
  • financial(1)
  • how insurance companies determine your premium for your home property(1)
  • holiday season hazards fire cooking christmas lights(1)
  • business income property insurance(1)
  • sole proprietor(1)
  • employee accident(1)
  • jewelry(1)
  • commercial auto insurance(1)
  • extortion ransomware association cyber liability insurance(1)
  • swimming pool(1)
  • insurance disclosure information risk exposures(1)
  • bop(1)
  • risks(1)
  • kitchen home fire and insurance coverage(1)
  • small business(1)
  • ho3 and h06 insurance coverage difference(1)
  • cyber insurance(1)
  • cyber attacks insurance(1)

View Mobile Version
Park & Associates
Quick Links
Home Our Products Customer Service Make A Payment Report a Claim
About Us Refer A Friend Our Carriers Blog Contact Us
Location
5255 N Federal Hwy.
Suite 200
Boca Raton, Fl 33487

Phone: (561) 994-0880
Fax: (561) 994-1740
Email Us

TrustedChoice
Facebook Twitter
Licensed In The Following States: Florida
Please Read Our Privacy Policy
Copyright © 2009-2019 Park & Associates, Inc.
All Rights Reserved.


Powered by Insurance Website Builder