Just like the process of finding that perfect location for your getaways, finding the perfect vacation home insurance can be an art form. In fact, there are plenty of factors that impact your premium costs that most are not aware of! That’s why our insurance experts are here to share some insights that will help you save like the savviest of homeowners!

The Facts About Vacation Home Insurance

Contrary to what you may think, insurers don’t just pull arbitrary numbers out of thin air when quoting a price on your vacation home insurance. In fact, there are quite a few determining factors that can either make or break the bank. Knowing these factors won’t only help you shop the insurance market smarter, but you may avoid pricier premiums by shopping the real estate market smarter! Here are some factors we will cover:


Location Matters

The tropics are beautiful – except when storm season presents a costly premiums!


Materials Matter

You paid more for the locale, not the house – but you’ll make up for it in higher premiums!


Age Matters

You love the old world charm of your home in Charleston – but your insurer may not!


Amenities Matter

The sunset from your new infinity pool is epic – it may lead to an epic premium, too!

Vacation Home Insurance: 4 Cost Factors to Know

1. Location

Believe it or not, providers don’t just look at your home when determining your premium – they look at surrounding homes! If your neighbors have filed a high number of claims, your insurance premiums will probably be higher. This is most often found in areas prone to extreme weather events, like tropical storms or hurricanes. Furthermore, the local topography of your vacation home will factor in. Locations that are hot spots for earthquakes, wildfires, and flooding will usually warrant higher insurance premiums.

2. Building Materials

Now that we’ve saved you from a location liability, we have the next hurdle to clear. Having chosen the perfect location for our vacation getaways, you plan on building your own custom home away from home. But, before you start vetting contractors, don’t overlook your building materials. While it may be tempting to opt for cheaper materials here and there, it could cost you later on your insurance premiums. Well-built walls and roofs will go a long way in keeping your insurance premiums lower.

3. The Age of Your House

If you choose not to build, but to buy that beautiful Georgian on Kings Street in Charleston, age will inevitably be a factor. While you may find that old world charm captivating, your insurers just see dollar signs and claims! If you do purchase an older home, you may consider making some updates to the electrical wiring and plumbing, to help mitigate any age-related price increase.

4. Amenities

Once you’re settled into your vacation home, few things are more relaxing than taking a swim or a soak in your pool or hot tub. However, taking in that perfect sunset from your new infinity pool overlooking the ocean may be soured by the hike in your insurance premiums. Typically, amenities, such as pools or hot tubs, are usually regarded as an added liability, meaning a higher premium.

Get the Best Vacation Home Insurance

Here at Lifetime, we live by the philosophy of work hard and play hard! We understand how important it can be to make the time to get away, and your vacation home is an integral part of that. That’s why we work with you to help you shop the market and find the right coverage to help you rest easy! If you’re ready to see what our insuranc experts can do for you, give us a call at (972) 771-2622 or visit our website! 

lifetime insurance services

Save on Vacation Home Insurance

The insurance pros at Lifetime can build you the perfect plan to cover all your future getaways!