Given the different exposures that a primary and secondary residence each have to risk, insurance companies typically won't cover both with a single policy. You should probably invest in a second home insurance policy to cover your vacation home in the event of a covered loss.
Cost-Effective Insurance Protection for Your Vacation Home:
Having a second home and keeping it up can be costly, but insurance doesn't have to add much to the total. These are some things for you to consider while looking for the right home and insurance policy:
Look for a safer spot: A house further inland, away from the coast, is less likely to be damaged by storm surges.
Make use of policy bundling: It's possible that you might lower your annual charges by insuring both your main and secondary homes with the same company.
Set up a security system: Insurers may be more willing to provide discounts to customers who install and maintain alarm systems that are centrally monitored and can detect fires and break-ins.
Shop around: If you own a second home, it's a good idea to shop around for insurance and see if you can find a cheaper rate every year before renewing your policy.
Renting Out Your Property: Renting your holiday property may raise your homeowners' insurance expenses and need extra coverage. In most cases, getting insurance through a service like Airbnb is a good idea if you plan on renting out your home. If you plan on renting out your second home to others, you should talk to your insurance agent about the specifics of your policy, since there are a number of unique dangers that might arise from doing so.
