The holidays are over and the New Year has begun. People are busy working on their New Year’s resolutions as they revise their budget, increase their regular savings, take their credit cards out of their wallets and stop spending money. So if the holidays are over why do you need holiday home insurance? Well the answer is simple, holiday home insurance is not insurance that protects your assets and your home while you are away during the holidays. Holiday home insurance is home insurance protection for your second home, your vacation home or your holiday home.
What is holiday home insurance?
If you live in the city but love to get away to your country cottage on the weekends then you need holiday home insurance. If you live in the cold Northern states and you keep a second home down south in the warmer climate then you need holiday home insurance. This type of insurance is very similar to your regular home owner’s insurance except that it is coverage for your second home also known as your holiday home.
Home insurance is very similar to regular home owner’s insurance or tenants insurance. It covers the cost of your personal assets and the structure of your home in case of an emergency or unforeseen event such as a fire or flooding.
Why you need to purchase holiday home insurance
Holiday home insurance is a good idea to have on your second home because you just never know what can happen, especially since you do not spend the majority of your time at your second home.
Holiday home insurance covers your home both inside and out as well as its surroundings such as your garage and swimming pool. My uncle has a secondary home in Florida and he always offers family members to stay there as often as possible because he wants to make sure that everything is ok. He offers his secondary home so that people can visit and make sure the plumbing is working and that the home has not been broken in to.
Just in case family members can’t visit my uncle’s secondary home he keeps holiday home insurance to protect his asset and his personal belongings while he is not there.
How can you purchase holiday home insurance?
Most insurance companies offer holiday home insurance for their clients. When you are shopping around for insurance on your secondary home be sure to ask about deductibles, the cost of insurance premiums as well as the total coverage that is included. The price of your holiday home insurance premiums will depend on the location of your secondary home, the year of its construction as well as the type of heating and plumbing system that you have installed.
Contact your licensed insurance advisor to get a quote for home insurance on your secondary home. You will most likely receive a discount on your insurance premium if you have your regular home and auto insurance policies with the same company.
You purchased your second home for you and your family to enjoy, so it’s a smart idea to protect it as much as possible.
Photo by phillie casablanca