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    What You Need To Know About Insuring Your Vacation Home Along The Shore

    insuranceIf you are ready to purchase a vacation home along the shore this fall, then you are in luck as now is the perfect time to do so. Prime vacation season may be over, but there are plenty of homes for sale at great prices.  Before you take the leap into vacation home ownership there are many things you need to take into consideration.   Insurance on your vacation home is one of those things.

    Insurance on your vacation home will not be the same as your current homeowners insurance policy. Here are a few things you need to know when it comes to insuring your Jersey Shore vacation home.

    Residence Status

    After you purchase a vacation home along the shore no matter if you are able to visit every weekend, or once a quarter you want to make sure your insurance fully covers your home. The average homeowners insurance policy covers your primary residence. A vacation home is considered a temporary residence, and you will need a policy that takes that into account. Your insurance policy needs to cover your residence year round, even if you are not visiting year round.

    Rental Coverage

    Many vacation homeowners choose to rent out their homes to visitors. If you are considering taking on renters then your homeowners insurance policy needs to account for that.  Your insurance policy will need to account for those who will be staying in your home when you are not there. Don’t expect your policy to cover damage done to your home as a result of visitors, but adding additional coverage to ensure that others who may be injured while at your home are covered is something you will want to do.  Consider increasing or adding to your policy additional liability, bodily injury and medical payment insurance to help reduce your personal risk when letting others stay or visit your vacation home.


    Prior to purchasing a second home carefully consider all the costs involved, that includes insurance costs.  Planning ahead for these costs will provide you with a better picture of what comes with owning a second home, leaving you better prepared. Take into consideration the age of the home and amenities the home offers that will impact the cost of your homeowners insurance policy.

    Purchasing a second home is a large investment, but a rewarding one that comes with a risk. Before jumping into owning a vacation home due your research and know all the costs involved.

    If you are looking to buy a vacation home along the Jersey Shore we’d love to hear how we can help you reach your real estate goals. The Ferzoco Group are experts in real estate from Ocean City to Cape May.

    Our job is to make your tomorrow better than today. Contact us today via email or give us a call at 609-264-6762

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