Important Questions to Consider
When buying home insurance, our agency will inquire about your goal of that home. Do you plan to live there? Do you plan to rent it out? Is this a second home? Do you plan to live there only infrequently? All of these questions are important.
- For example, if you plan to use it as a second home, perhaps just for the weekends, the home may remain empty for some time. During that time, it is at a higher risk for damage. And, if there is damage to the home, you may not learn about it right away. Vacant homes – even if it is just for a portion of the week – are a bigger risk factor and might merit specialized coverage.
- Tell them that you plan to rent it. This changes your needs. You now need a home insurance policy for rental properties.
- Let our agency work with you to increase your liability risk coverage. With someone living there, your chance of having to file a claim for liability insurance is often higher.
- Work with our agency to ensure all requirements are in line for rental properties. The law may have very specific requirements for you in terms of what you need to insure.