Getting Your Getaway The Protection It Deserves
If you are one of the lucky people who get to take a vacation regularly, you may have secured a vacation condo or home so you can have a home away from home. This extra property can make your time away that much more relaxing since you get all of the comforts of home, but it can also bring a small amount of stress since you have to carry—and pay for—insurance coverage on your second property.
To help bring down the cost of insuring your vacation home or condo, look at these areas.
- Peril Coverage: The ideal policy for your primary residence will have all-peril coverage that will protect your home no matter what comes, but named-peril coverage is more affordable and can protect your second residence from foreseeable dangers.
- Replacement Cost: In your primary residence, you have likely secured replacement cost coverage, which will pay to fully reimburse you for damaged or stolen property. Actual cash value will factor depreciation into your reimbursement, but because you likely do not keep a full wardrobe, valuable jewelry, and pricey technology in your vacation property this coverage could be sufficient. Actual cash value coverage is generally more affordable.
- Deductible: If you are looking for another way to shave down your premiums on the coverage for your second residence, turn to your deductible. Since you spend less time there, the odds of you needing your policy are reduced. Consequently, you might want to consider increasing your deductible, which will bring your premium down.
Would an expert team guiding you towards the right coverage for your properties help give you peace of mind? Contact Udell Family Insurance in Westlake Village for all of your homeowners and condo insurance needs in California.