Secondary Home Insurance

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Secondary Home Insurance in New Hampshire

What is secondary home insurance?

Primary homeowners insurance policies typically don't cover vacation homes. Thus, residents who have a winter or summer place in New Hampshire often need a secondary home insurance policy.

Secondary home insurance is tailor-made for insuring non-primary residences. Many of its coverages are similar to those found in standard homeowners policies, but others are modified.

Who in New Hampshire should purchase a secondary home policy?

Anyone who has a second (or third) place in New Hampshire should probably have a secondary home policy for their place. This is usually the best way to insure a vacation home. For instance, residents with places such as the following might need a policy:

White Mountains ski chalets
Lakes Region summer cottages
Hampton or Portsmouth beach houses
Lodges throughout the state
Other kinds of non-primary homes

So long as the secondary residence is in New Hampshire, a policy normally must be purchased through an insurer that operates in the state. Out-of-state residents usually need a New Hampshire policy for any property in the Granite State. An insurance agent who's knowledgeable in secondary home policies can help both in-state and out-of-state residents secure coverage.

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Coverages to Consider

Physical Damage Coverage
Secondary Structures Coverage
Personal Property Coverage

Liability Coverage
Vacant & Unoccupied Coverage

What coverages are available through vacation home insurance?

Most vacation home insurance policies provide certain coverages that are similar to those found in a primary homeowners policy. For example, vacation home policies typically have:

Physical Damage Coverage: Usually covers the primary dwelling on the property
Secondary Structures Coverage: Usually covers outlying structures on the property
Personal Property Coverage: Usually covers personal belongings on the property
Liability Coverage: Usually covers accidents occurring on the property.
Vacant & Unoccupied Coverage: Usually covers residences when they're unused

Vacant and unoccupied coverage is often available through primary homeowners policies, but isn't frequently purchased within these policies. It's much more common for secondary homes during the offseason, as a policy might not cover a place that's unused for months unless this coverage is included.

Whether and how much liability coverage is needed depends on the personal liability coverage included within a resident's primary homeowners insurance policy. A knowledgeable insurance agent can review a homeowners policy to see what liability coverage should be purchased within a vacation home policy.

What is high-value home insurance?

For some second properties, high-value home insurance may be appropriate. High-value home policies are available for both primary and secondary residences, and they typically add to the protections that a standard policy has. For instance, a high-value home policy might feature higher limits and/or extra protections.

Again, a knowledgeable agent can help determine whether a high-value home insurance policy is appropriate for a vacation home.

Does vacation home insurance include coverage for floods?

Protecting against flooding and similar risks is important when properties are near water, and even for some non-waterfront properties. In some cases, flood insurance may be required for properties in high-risk areas.

Flood insurance isn't included in all vacation home insurance policies, but it's readily available outside of these policies. A few specialized vacation home policies might include the coverage.

Should secondary home owners consider other types of insurance?

While vacation home insurance offers essential protections, these safeguards usually only apply to the property itself. The policy generally won't cover property or liability risks not associated with a vacation home. As a result, owners of vacation homes indeed normally need additional policies. In addition to a homeowners policy for a primary residence, the following insurance policies may be appropriate:

Boat Insurance: May cover boats and personal watercraft
ATV Insurance: May cover golf carts, four-wheelers and other small vehicles
Snowmobile Insurance: May cover snowmobiles
Umbrella Insurance: May provide extra liability coverage for various risks

How can vacation homeowners obtain secondary home insurance?

For assistance insuring a vacation home in New Hampshire, contact Portsmouth Atlantic Insurance. Our independent insurance agents can help you assess coverage needs and find a secondary home insurance policy that effectively covers your property.