Key Takeaways
* Insuring unoccupied homes presents unique risks.
* Make sure company knows policy is for a second home.
* Listing a home on any online rental marketplace presents further complications..
Homeowners insurance is a special insurance policy to protect the property and liability exposures arising out of an individual’s primary residence, but some individuals have more than one residence, often called a “get-away” home. When there is more than one residence, the homeowner must be aware of the insurance ramifications of having alternative residences to avoid problems with both the primary and secondary residences. There are additional considerations for homeowners who choose to list properties as short or long-term rentals.
Click here to read the entire article from the Texas A&M Real Estate Research Center