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Whether you buy a lake house for year-round living or summer getaways, it will most certainly become a haven for rest and leisure for your family. To keep this tranquil haven, you'll need to purchase a homeowner's insurance coverage to help you manage risks and costs if the unthinkable happens.
Some homeowner's insurance policies cover two residences, while others do not. Some insurers may refuse to cover particular properties or provide the appropriate coverage.
We recommend speaking with your homeowners' insurance agent to determine whether your current policy will cover your second property. If not, they may be able to offer you a discount on a second policy for that home if you combine the two policies.
Having a second policy for your second property is usually a good idea. Separate insurance allows you to tailor your coverage to better meet your needs because your vacation home will have hazards that your permanent house does not.
Important Items To Keep In Mind
- You may need coverage for a dock.
- Include unattached buildings in your policy.
- Consider umbrella coverage.
- Consider flood insurance.
- Insure semi-permanent water structures like swim rafts, water trampolines, and boat lifts
- Insure all watercraft and vehicles