Find Insurance for a Second Home, Vacation Home, or Seasonal Dwelling in New England
Adding a Second Home Insurance New England can get tricky. Premier Shield has expert homeowners insurance agents to help you with your second property and finding the right policy type (HO3, HO5, HO6, or DP3)
New England Second Home, Vacation Home, or Seasonal Dwelling insurance can get complicated if you don’t have an expert home insurance agent.
Having your home on the proper form could mean the difference between getting a payout and being left with no money from the insurance company.
If you’re already a homeowner and you’re looking to purchase another home, the type of home insurance policy you will need will depend on its usage.
Homeowners Insurance for a Second Home-
When you are in the process of purchasing a second home or insurance on a secondary dwelling, it’s going to come down to “how you use it”, “how many months per year it’s occupied”, “is it AirBNB”, “condo rented to others”, “vacation home”, “seasonal home” or “seasonal home rentals”.
Second Home is a Primary Residence
If you’re moving into a primary residence, you’ll need to purchase either an “HO3 or HO5“. What’s the difference between an HO3 and an HO5 homeowners’ insurance policy?
An HO3 policy only covers your personal property on a Named Peril’s basis whereas an HO5 policy provides coverage on an Open Peril basis. In addition, HO3 policies do not include Replacement Cost Coverage on your personal property by default (however this can usually be purchased as an add-on to an HO3).
If you’re going to continue to use your first home as your primary residence and the 2nd home is a rental property, you will want to have a DP-3 Landlord policy to make sure you have proper coverage. The most common landlord and rental property insurance policy types are the DP1, DP2, and DP3.
The DP1 is a very basic landlord insurance policy, providing the most basic of coverage. They are rare policies as most agencies, agents, and customers opt for the DP3 form.
Second Home is a Seasonal Dwelling
Chances are if you’re buying a second home you may have found it slightly more difficult to find a company to insure your dwelling.
Homes that are unoccupied pose greater risks to insurance companies (because you’re not there to check for fire, water damage, vandalism, animal property damage, etc).
Secondary Home Insurance Quotes Massachusetts, Connecticut, Maine, New Hampshire, and Rhode Island
If you’re buying a second home in New England the expert home insurance agents at Premier Shield can help you find a good home insurance company with a competitive rate.
We’ve written homes all over New England and throughout the US and we’ve seen some of the most complex home insurance situations. We’ve been able to help many homeowners who have had a difficult time finding a policy for their homes.