Your part-time residence needs full-time coverage
Oct 14, 2014 03:30PM
● By Dia
Summer is winding down, and many schools are back in session. If you own a second home, you may be getting ready to close it up for the season. Perhaps you’ve decided to rent it out to generate additional income. In any event, your part-time residence should have full-time insurance coverage.
The difference between a primary and vacation home
Many insurers look at seasonal or vacation homes differently than a primary residence. Seasonal homes are often unoccupied for extended periods of time, which can make them a target for thieves or vandals, which can result in a greater risk of damage and loss. This may make your second home more difficult to insure. That’s where I can help. Farmers covers a range of homes, including seasonal/secondary, as well as properties in rural areas, and homes that other carriers reject due to age, condition, value or other considerations. In certain states, Farmers doesn’t even require that your primary residence be insured with us to insure your seasonal or secondary home.
Are you a landlord?
A growing number of homeowners are becoming landlords, whether they relocate for a job, are waiting for market values to increase further before selling or purchase a second home as an investment to rent. Whatever the situation, the type of insurance you need is not the same as your primary residence.
Your property changes classification when you rent it — it becomes a place of business — and typically its insurance requirements change. Your standard homeowners policy may no longer offer appropriate coverage: you would need a landlord insurance policy to help protect you if anyone is hurt on the property.
Farmers offers property, liability and important optional coverages that let you customize your policy. You can choose from flexible payment plans and pay online, by mail or Electronic Funds Transfer (EFT). Learn all you can about insurance because the more you know the better you can prepare for the future. Start now: let’s get together so you can be sure you have the coverage you want on your second home.
Coverage varies by state and may not be available in all states.
The Kevin Hendricks Agency of Farmers Insurance is a group of experts who focus on you, and help you select the best insurance for your individual needs. Whatever your situation may be, we will create a custom solution for your complete protection.
We're authorities on insurance, and will assist you in determining what fits your needs best. We'll quote any type of insurance you need — large or small, we can handle it for you.
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