It is very nice to have a vacation home to use during the summer months. Many North Carolinians own a beachfront property just for this purpose. They may have a cabin in the woods, a house on a lake, or a fishing cabin near a river. Insurance for a second home is different from the typical insurance for a home that serves as a permanent residence.
To Rent or Not to Rent
Some considerations of owning a second home are if the property will be vacant for part of the year, whether there is a caretaker on the property, a security service that checks the property, and whether it is rented out to others part of the time.
Renting a property to others, even if only part of the year, is considered commercial use of the property and therefore the insurance requirements are different than those for a home that is not rented out.
If a caretaker lives on the property this may trigger the need or desire to have worker’s compensation insurance to protect against the liability of any accidental injury or death while the caretaker is working.
The type of home insurance and other insurance that may be needed for a second home depends on these and other factors. Work with an agent at Don Allred Insurance serving Burlington NC and the nearby communities to make sure there is adequate protection in place to cover these issues.
Home insurance usually does not include flood insurance. North Carolina experiences plenty of flooding caused by hurricanes, storm surge, heavy rains, and rivers overflowing. It is a good idea to also have flood coverage for any second home in the state of North Carolina because climate change is increasing flood risk across the state.
Home Insurance Review
Call 800-280-2230 to speak with your agent at Don Allred Insurance in Burlington, NC to get a quote for a new home insurance policy and coverage for a second home or a review of an existing policy to make sure you have adequate protection.