The Nuts & Bolts of Dwelling Insurance
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To insure rental, vacation, investment or seasonal homes. Dwelling insurance is a variation of homeowners policy that provides very basic coverage for additional dwellings at low costs.
What Makes Dwelling Insurance Different?
Designed to protect secondary homes against physical damage caused by fire and inclement weather
Usually insures the dwelling plus any other structures on the property, such as garages or sheds
Covers landlords against loss of rental income when property is damaged and must be repaired
Insures any of the landlord’s personal property used by tenants, such as furniture or appliances
Usually offers no liability protection for damage or injury to others (unlike other homeowner’s insurance policies)
This type of homeowner insurance plan provides minimal coverage at a much lower costs than traditional home insurance.
Why buy it?
Home insurance isn’t cheap. But for those who acquire investment or rental property insurance for personal possessions is not necessary. They just need insurance to cover the dwelling.
You don’t need normal homeowners insurance policy for two or more residences a year. Why is this? This because such high levels of coverage aren’t simply need most of the time.
Sometimes, this basic coverage also makes sense for homes that are older, lower in value or have minor cosmetic damage. Since a home’s value depends largely on the condition of the house itself–and insurance premiums reflect this value–homes that cost less or need repairs don’t need as much home insurance.
Don’t take chances with that vacation or investment home. Get a Free Home Insurance Quote today!