Tampa Homeowners Insurance on a Vacation Home

September 29, 2020

Are you looking for a second home to escape the winter snow or to spend the summer with your family? A vacation home is very appealing and a great investment. It is important to protect your home whether it is your primary residence or your second and/or vacation home. We are here to help you understand what Tampa homeowner’s insurance works best for your vacation home.

Can I Use My Current Homeowner’s Insurance On My Vacation Home?

The short answer is yes. Insurers have the ability to extend liability coverage through umbrella policies to a second home. Meaning, if someone is injured at your vacation home and you are liable, then your primary homeowner’s insurance policy will compensate for medical and legal expenses. There are exclusions to Tampa homeowner’s insurance which includes water damage, mold damage, intentional or preventable loss, defamation of character, and more.

What If I Want To Have Separate Coverage For My Vacation Home?

You most definitely can choose to have separate coverage for your second home. Separate Tampa homeowner’s insurance provides structural and content protection. There is the option of bundling your primary homeowner’s insurance with your secondary homeowner’s insurance. Doing so provides a budget-friendly form of insuring both of your homes with peace of mind.

What Are The Risks?

Coverage for a second home consists of different terms of cost and coverage levels due to the increased risk of a vacation home. For instance, a beachfront home in Florida or a lakefront cabin carries a greater risk of flooding and hurricane damage. Tampa homeowner’s insurance provides standard protection on vacation homes such as theft and lightning damage. However, valuable contents such as fine jewelry are not included since a vacation home is not a full-time residence. 

What Are My Options?

Additional insurance can be purchased based on your wants and needs. For example, Tampa homeowner’s insurance does not always include flood insurance. Therefore, flood insurance can be purchased as a supplement to your standard personal property insurance. Coverage limits can also be increased in order to cover additional structures such as a boathouse on your vacation property. Umbrella coverage provides an additional layer of coverage for liability such as injuries.

Tampas Homeowner’s Insurance with HH Insurance

By having insurance in place on your second home, you can have some peace of mind knowing your home is protected whether you are there or not. Contact us to know whether your second home or vacation home is adequately insured!