How to Save on Second Home Insurance

As you may have learned in our previous article that explains second home insurance, this article will give you tips on how to decrease the cost of your insurance.

So what can you do to save on second home insurance?

  • Choose a location with less risk — A home further from the beach won’t be as susceptible to storm surges, for instance.
  • Bundle your policies — If you insure your second home with the same insurer that provides coverage for your primary residence, you may be able to save on premiums.
  • Install an alarm system — A centrally monitored alarm system that detects both fire and break-ins can help lower the cost of insurance.
  • Shop around — Get at least three quotes for the coverage on your second home; review the policy costs before you renew each year to see if you can get a better rate.

What about renting out your second home?

So you’ve bought a vacation home for your family and friends but have realized you don’t go that often. Wouldn’t you rather make a profit off your beloved vacation home than let it just sit vacant and go to waste?

There are homeowners policies that’ll safeguard against your potential renters’ shenanigans. You can purchase Landlord insurance for this and it can protect against potential damages to the home from your tenants; there are many different hazards that the policy can cover. Depending on your provider, it will most likely cover you against damage to your property, a tenant being injured on your property, and the claims against you that accompany it.

Many providers will suggest purchasing additional liability coverage in case your tenants get hurt on your property. Keep in mind that every endorsement added to your policy will up your premium.

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Photo by Sebastian Staines on Unsplash

Let Uniamericainc.com help you with Vacation or Second Home insurance today!