Insurance Considerations for Vacation Homes and Second Properties

Owning a vacation home in New England can be a dream come true, whether it’s a cozy lakeside cottage in Vermont or a coastal getaway in Massachusetts. But while second homes offer relaxation and family memories, they also bring unique insurance considerations that differ from your primary residence.

Dowd Snapshot: Key Takeaways

• Second home insurance protects properties you don’t occupy year-round.
• Seasonal home insurance addresses risks during long vacancy periods.
• Rental use may require specialized coverage to protect against guest liability and income loss.
• Regional risks in New England, such as snow, wind, and flooding, should inform your policy.

Understanding Second Home Insurance

Second home insurance is specifically designed for properties you don’t occupy year-round. Standard homeowners policies may not fully cover seasonal homes, especially if they are unoccupied for long periods.

Coverage typically includes protection against:

• Fire, wind or water damage
• Theft or vandalism
• Liability for accidents on the property

Seasonal Home Insurance and Vacant Periods

Many New England vacation homes are unoccupied for months at a time. Seasonal home insurance accounts for these gaps in occupancy, ensuring your property remains protected even when you’re not there.

Policies may vary in coverage limits for items like water damage from frozen pipes, storm damage or mold.

If you’re preparing your home for travel, check out our Pre-Travel Home Checklist to help reduce risks before you leave.

Renting Your Vacation Property

If you rent out your vacation home, either short-term or long-term, your insurance needs change.

Standard policies may not cover rental activities, so it’s crucial to explore specialized coverage for:

• Short-term rentals via platforms like Airbnb or VRBO
• Liability protection for guests
• Loss of rental income due to covered damages

Risk Factors Unique to New England

New England weather can be unpredictable, with heavy snow, ice storms and coastal flooding. Second home or vacation home insurance should address these regional risks, including:

• Winter storm and snow load coverage
• Windstorm protection for coastal homes
• Flood insurance for waterfront properties

Protect your second home the right way. Contact our experts to discuss your specific situation and find the coverage that fits your vacation property.