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7 Steps to Get the Best Deal on Holiday Home Insurance

American homeowners spent $89 billion on home insurance policies in 2015, and the numbers continue to climb with more home buyers entering the market and vacation homeowners growing in numbers. As a holiday home owner, you need to have insurance to protect your property, but these additional costs can add up quickly, but don’t worry.  There are things you can do to get a better deal on holiday home insurance today.

Holiday & Vacation Home Insurance

Our Save-On Insurance Services team has compiled 7 strategies that can help you keep premium costs and claim fees in check. Check them out below.

1. Change the Locks on All Doors and Windows

The first thing you should do when trying to get a good deal on holiday home insurance is to change the locks on every door and window. How come? It’s simple. When you first buy a holiday home, you want to make sure it is 100% safe.

The first reason this is a good idea is that you now have complete control over who can access the property. If the home was rented as a holiday home by the previous owner, this is even more important. Secondly, this will give you peace of mind to know that all the entrances to the home are secure and that the locks work properly.

We recommend hiring a reputable locksmith to do the job.

2. Make the Property Look Like it’s Always Being Used

One of the key features of a holiday home is that it’s not always occupied. However, to get a better rate on your holiday home insurance, you should do everything you can to make it seem as lived in as possible. That way, it’s less appealing to potential thieves.

Here are some ideas to make this happen:

  • Leave a light on in one room that turns on with a timer plug at night
  • Store all valuables out of sight
  • Leave some curtains or blinds open while closing others (this seems more natural than them all being closed)
  • Get the grass mowed regularly

Basically, just keep the property looking fresh and occupied.

3. Secure the Home with an Alarm System

Changing the locks is just the beginning when it comes to home safety. You should also seriously think about installing an alarm system. A good alarm system can provide more complete peace of mind when you’re away from the home with the knowledge your home is safe.

Many alarm systems can connect to an app on your smartphone, alerting you anytime something out of the ordinary happens. And what’s more–installing a security system will also qualify you for lower premiums with many holiday home insurance companies.

4. Another Way to Save on Holiday Home Insurance: Consider Your Excess

If you’re looking for other ways to save, look at your excess. Every home insurance policy contains an excess, which is simply the amount you will pay towards a claim.

Depending on your financial situation, you can save on your monthly premium if you are willing to pay more should you need to file a claim. Basically, your policy will cost less in the short term, but if you file a claim in the future, you will pay more. This is definitely something else to consider if you’re looking to save on your policy.

5. Keep up with Maintenance

Since you’re not always at your holiday home, you should put an extra effort into maintaining it when you’re away.

One of the biggest things to consider is caring for the home during winter months where the home is vacant. During the colder seasons, many holiday homes are booked less; even is popular ski areas where the weather outlasts holiday and vacation travel patterns. This means you need to take even more precautions with the home like insulating pipes and water tanks so they don’t freeze over.

Be mindful of any trees you have on the property. During months where you’re more incline to experience strong weather, one single windstorm can blow those over or cause branches to crash into the house. Keep all the branches on your trees trimmed to avoid this potential problem.

Also, keep an eye on your holiday home’s roof. If shingles aren’t secured properly or are getting older, they could easily blow off in a good rainstorm and result in leaking or flooding inside the home. Avoid this potential nightmare by keeping the roof in prime condition.

Why is all of this maintenance worth it? It’s simple. If you can avoid a disaster, this will keep your holiday home insurance premiums lower.

6. Check out Your Options

No matter what you’re looking for, it’s smart to shop around to find the best price out there. The internet may seem to make this easier, but only a professional can tell you about those hidden or missing benefits, shop the market with experience, and guide you when a disaster happens… saving you during claims.

Remember, when it comes to insurance, the cheapest policy isn’t necessarily the best option. It’s totally worth it to spend a few extra dollars every month in order to have the best coverage possible in case of an emergency. Imagine your holiday home is robbed and thousands of dollars worth of possessions are stolen. At that moment, you are going to want the best insurance coverage out there.

In short, it’s totally worth it to invest in your vacation home insurance now to prepare for the future.

7. Don’t Spread out the Cost

As is common with many types of insurance, some holiday home insurance providers provide various payment plans or options. One of the simplest ways to get a good deal on your plan is to pay for the entire year of insurance all at once.

Although it might not make a ton of sense at first, paying for your whole year of insurance saves you money in the long run. Some companies will offer monthly payment options which can seem attractive at first, but over time, these always end up costing you more with extra processing fees.

If it works with your budget, paying for it all upfront is a simple way to save a considerable amount of money on your plan.

Next Steps

Now that you’ve learned about these 7 ways to save on your holiday home insurance policy, what’s next? Pick out the ones that make the most sense for your current financial situation and try them!

If you’re ready to learn more about our insurance offerings, fill out our form to get a free quote.

An insurance agency like Save-On Insurance Services has access to numerous high-rated insurance companies and can “shop” the best industry rates and policies options to best fit your needs. Additionally, they can fill in the “blanks” to highlight discrepancies in a policy or those extra benefits. Shopping around online can be risky when you don’t know what you don’t know, and that risk can cost you more in the end.

As you’re going through the decision process, you make come across other questions. If that happens, feel free to contact us.

Our team of insurance experts is here to help!