Vacation home insurance could end up being more expensive than your regular homeowners insurance, depending on the type of coverage you need.
There are a number of factors that influence your premium costs related to the home, including:
Location—Vacation or second homes in areas that are prone to flooding, hurricanes, or other natural disaster-related events may come with higher premium costs.
A home that’s located in an area that experiences earthquakes, forest fires, or mudslides could also be more expensive to insure.
Condition and Age—Aside from location, insurance companies also look closely at the age and overall condition of the home when determining premiums.
An older home that’s been neglected in terms of maintenance or upkeep will typically cost more to insure than a newer home or one that’s been well maintained.
