What Home Insurance Do I Need for a Second Home?

The things to consider when insuring your vacation home are whether you will leave it vacant, someone will stay there when you are not there, and if you will rent it out. Most vacation homes require separate home insurance and flood insurance.

Insuring a Vacant Home

This is something that not everything knows about. There is a possibility that a regular home insurance policy will not cover a vacant home. Ask your agent at GTW Insurance serving NE Arkansas to check your policy language.

There is a difference between a vacant home and a home that is unoccupied. Usually, a home that still has furniture in it, is not considered vacant. Sometimes, there is a time limit of a certain number of consecutive days that a home is allowed to be vacant before home insurance coverage is lost. There are special insurance policies specifically designed for either a vacant or unoccupied home. Ask your agent to help you find the appropriate coverage for your circumstances.

Using a House Sitter

It may be a good idea to use a house sitter instead of taking the risk of leaving a home unoccupied. Be aware that employing someone creates a commercial relationship and this affects insurance coverage. Depending on how many people you employ you may want to get worker’s compensation insurance to cover them if they get injured while on the job. Arkansas’ law requires worker’s compensation insurance if you hire three or more workers. Discuss this with your insurance agent.

Renting Out Your Vacation Home

When you rent out your vacation home, this changes the use of the home to a commercial use. For this purpose, you need special rental home insurance and other types of commercial insurance coverage.

Contact your agent at GTW Insurance serving NE Arkansas by calling 800-501-2066 or by using the convenient online form to get an insurance quote.