Insurance for Weekend Homes

I am in the process of buying a weekend home. Is it true that a second home cannot be insured for theft? Is it also true it cannot be covered for water damage?

 

Answer:

A home is a home. A second home can be insured for everything that your primary residence can be insured for. However, an insurance company may have special requirements in order to give you certain types of coverage, given that your home is not always "occupied". For instance, you may have to install a security system in a home that is not being used as your primary residence, in order to get some kinds of coverage.

 

I would recommend speaking with a couple of local mortgage brokers or insurance agents about your unique situation.

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