Press Releases

Is Your Vacation Home Properly Protected?

7bdcd88e2479487ad75d_vacation-home.jpg
7bdcd88e2479487ad75d_vacation-home.jpg

Vacation homes serve as sanctuaries from the daily stresses of life. The question is, are Americans properly protecting their fortresses of solitude? With the median vacation home costing approximately $200,000, these investments are significant.

If you own a vacation home, the following are a few things to take into consideration to properly protect it.

Property crime
If you’re like most vacation homeowners, your home-away-from-home is only used by your family during certain parts of the year. If you don't rent it out, that leaves lots of time where it's unoccupied - making it susceptible to theft. Although property crime - including burglary - fell from 2016 to 2017, it's still cause for concern. Burglary still accounts for 19.1% of the estimated 7.9 million property crimes reported in 2016.

Sign Up for E-News

Click here for tips on securing your home from burglary. Also, make sure your homeowners insurance policy is up to date by speaking with your agent. You should also consider performing a home inventory so you know the proper amount of coverage to secure.

Condominium or single-family?
When it comes to insurance, the type of property you own helps determine the policy that's best suited for your needs. For instance, if you own a condominium rather than a single-family residence, your condo association may already have coverage. At the same time, the insurance that the association has may only protect the physical structure of the condo, not your belongings. Be sure to look into this before you consult with your independent agent.

Do you have flood insurance?
Simply put, flooding can happen in a wide range of regions, no matter the time of year or the local weather patterns. While some areas are more likely to see flooding than others, many properties can experience a devastating flood.

Flooding is among the most destructive natural disasters. It can ruin homes, destroy businesses and take lives. As a homeowner, keeping your property safe is a top priority. And that includes taking preventive action against the risk of flooding. But many property owners don’t realize flooding damage isn't covered by a traditional homeowners insurance policy. Check with your independent agent to help determine what risks you face and protection you need.



Amenities
Vacation homes often serve as getaways from the stresses of life. As such, it's not uncommon for owners to have various amenities, be it a swimming pool, hot tub or trampoline, among others. Because accidents are possible with these kinds of recreational items, you may want to speak with your independent agent about the liability portion of your insurance policy and your liability limit to ensure your assets are adequately protected in the event someone is injured on your property and files a lawsuit against you.

Your vacation home's value is an additional factor that can help you assess your insurance needs.
Property insurance premiums are determined by how much it would cost to rebuild your residence from scratch should it be destroyed. Your independent agent and insurance carrier can work with you to determine the appropriate amount of coverage you might need.

 

If you have any questions about this article, please feel free to contact Heather Duffy at (732) 256-3420.

 

AssuredPartners The Insurance Centers

20 Commerce Drive Suite 303

Cranford, NJ 07016

 

Article and photo courtesy of Selective Insurance.

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

Elizabeth

Happenings this Week in the City of Elizabeth

June 19, 2018

ELIZABETH, NJ - Do you what is happening this week in Elizabeth? Here is a list by Mayor Bollwage’s office of events happening around the City.

Tuesday, June 19 - Completion Ceremony 

(11 a.m. to 11:30 a.m., 40 West Jersey Street, Elizabeth) - The completion ceremony of the NJ Youth Corps of Elizabeth at the Union County College Kellogg Building. 

Wednesday, June 20 - ...

Make Music Roselle Park Lineup Includes Rock Bands, Singer-songwriters, Free Harmonica Lesson

ROSELLE PARK, NJ - The lineup for the first-ever Make Music Roselle Park will include two rock bands, a pair of singer-songwriters, a free beginner harmonica lesson and more.

The event being held on June 21, Make Music Roselle Park is part of Make Music Day, a global music celebration that takes place on the summer solstice each year and brings people of all ages and skill ...

Charges Pending Against Roselle Man Found with More than 40 Dogs Living in Squalor

June 20, 2018

ROSELLE, NJ - A Roselle man will be charged with multiple criminal offenses after more than 40 dogs were discovered living in severely unsanitary and inhumane living conditions in his home last week, according to the Union County Prosecutor’s Office and New Jersey Society for the Prevention of Cruelty to Animals (SPCA).

According to the authorities, members of those two agencies, the ...

Gov. Murphy still pushing a millionaire's tax, won’t say when he'll sign sports betting, weed bills

June 11, 2018

NEW BRUNSWICK, NJ - With a showdown on the state budget looming just 22 days away, Gov. Phil Murphy today re-emphasized his call for a tax on the state’s wealthiest households while hoping to avoid another shutdown of state government.

“Do I still want a millionaire’s tax? The answer is ‘yes,’ “ Murphy said at a press conference at the John ...

Get Empowered to Help Prevent Suicide

June 9, 2018

Over the past week social media and the news have been filled with stories and articles encouraging people to seek help if they’re in emotional distress. There have been countless articles about the need to break the silence around the topic of mental health and suicide, and I am encouraged by the support people are extending to others.

Often, the death by suicide by prominent ...

'Half Time' lights up Paper Mill stage

‘Half Time’ turns the tables on aging in gleeful production

By Liz Keill

MILLBURN, NJ – The Paper Mill Playhouse is putting on a smashing new production of “Half Time” to round out its current season.

With actress Georgia Engel in an engaging performance, the cast also features Donna McKehnie, Andre De Shieilds and Lilias White, among a host of other ...

Friends of the Library Book Sale Continues

June 21, 2018

The Friends of the Union Public Library are continuing their book sale through until Monday, July 16th, 2018 at the Main Library and Vauxhall Branch.  The sale features items for both adults and kids and includes DVDs and CDs as well as books. Patrons can buy a Friends bag for $10 at the Reference Desk and fill it, or they can purchase items individually.  The Friends of the Union ...