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<p><span style="color: #000000;">Got a cabin? If you’re lucky enough to own a vacation property, seasonal home by the lake, or the annual destination for hunting season, you know how great it is to get away from it all. Better yet, it is a sound investment that can help you kick back in your retirement.</span></p>
<p><span style="color: #000000;">However, you can’t leave all your worries behind when it comes to protecting your cabin. What could ruin your cabin’s future?</span></p>
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<li><span style="color: #000000;">Damage from fire </span></li>
<li><span style="color: #000000;">Natural disasters</span></li>
<li><span style="color: #000000;">Injuries on your property </span></li>
<li><span style="color: #000000;">Crime</span></li>
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<p><span style="color: #000000;">The solution? Protecting your investment with seasonal home insurance.</span></p>
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<h3><span style="color: #000000;">Let’s take a look at everything you need to know about cabin insurance, including: </span></h3>
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<li><span style="color: #000000;">What is cabin insurance?</span></li>
<li><span style="color: #000000;">Why do you need cabin insurance?</span></li>
<li><span style="color: #000000;">Who needs cabin insurance? </span></li>
<li><span style="color: #000000;">What is the cost of cabin insurance?</span></li>
<li><span style="color: #000000;">Common questions about cabin insurance</span></li>
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<h3><span style="color: #000000;">What is Cabin Insurance?</span></h3>
<p><span style="color: #000000;">Cabin insurance, typically known as seasonal home insurance, protects your vacation home and your possessions in it against a wide variety of dangers:</span></p>
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<li><span style="color: #000000;">Fire damage</span></li>
<li><span style="color: #000000;">Storm damage (i.e., hail, wind, snow, rain, lightning, etc.)</span></li>
<li><span style="color: #000000;">Theft/burglary</span></li>
<li><span style="color: #000000;">Vandalism</span></li>
<li><span style="color: #000000;">Arson</span></li>
<li><span style="color: #000000;">Liability coverage for injuries to other parties on your property</span></li>
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<p><span style="color: #000000;">One particular distinction to make about cabin insurance is that it is separate from your primary homeowners insurance policy. </span></p>
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<h3><span style="color: #000000;">Why Do You Need Cabin Insurance?</span></h3>
<p><span style="color: #000000;">If you’re reading this article, chances are you that you’re in need of a cabin insurance policy. No two cabins or seasonal homes are alike, which presents unique challenges. </span></p>
<p><span style="color: #000000;">Some cabins can be a simple no-frills structure designed for rustic living in isolated areas, while others can be sprawling, multi-level buildings that are more extravagant than many primary residences. </span></p>
<p><span style="color: #000000;">Adding to this, most people don’t live permanently in their vacation homes. Therefore, having cabin insurance protects it as a second residence, future investment, and as a source of revenue from renters.</span></p>
<p><span style="color: #000000;">For those who own a cabin, a lake home, or other seasonal residence, you will need to speak with an experienced insurance agent who can assess how much coverage you need. </span></p>
<p><span style="color: #000000;">There are many variables to consider — even if the small cabin is located on bare hunting land — so an expert insurance agent can ask you the right questions to determine which risk factors need to be addressed and protected. </span></p>
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<h3><span style="color: #000000;">Who Needs Cabin Insurance?</span></h3>
<p><span style="color: #000000;">The short answer to Who needs cabin insurance? is anyone who has one. If you’re still on the fence (pun intended), let’s look at a number of aspects related to how much insurance coverage you should consider for your cabin:</span></p>
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<li><span style="color: #000000;">Got deer? What about bear and moose? Hunting cabin insurance can be useful for damage from wild animals or unfortunate accidents with firearms. During hunting season, cabin insurance can help you concentrate on bagging that buck!</span></li>
<li><span style="color: #000000;">If you only visit the cabin on a seasonal basis each year, you may need seasonal cabin insurance to keep it safe from harm during the times it is vacant.</span></li>
<li><span style="color: #000000;">Cabins that are located in areas that could potentially experience a devastating wildfire, or severe weather like flooding and winter storms definitely need a form of insurance to protect your investment and recoup value lost.</span></li>
<li><span style="color: #000000;">Some cabins are governed by HOAs, which may require your secondary residence to be adequately insured to protect the value of related properties. </span></li>
<li><span style="color: #000000;">For entrepreneurial-minded cabin owners, renting out the cabin on Airbnb or through private clients is risky without cabin rental insurance.</span></li>
<li><span style="color: #000000;">Family cabins passed through the generations are perfect candidates for coverage such as log cabin home insurance. If you keep a large amount of valuables and possessions at your family cabin, insurance is a must to replace these items if they’re stolen or damaged.</span></li>
<li><span style="color: #000000;">Love adventure? If your cabin has ATVs, boats, or other recreational vehicles, then you may want to consider such coverage as cabin cruiser boat insurance.</span></li>
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<p><span style="color: #000000;">Do any of these situations apply to you? Chances are that they do. </span></p>
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<h3><span style="color: #000000;">What is the Cost of Cabin Insurance?</span></h3>
<figure data-asset-id="107c8fa0-7fe2-420f-9730-c5b974eaaf17" data-image-id="107c8fa0-7fe2-420f-9730-c5b974eaaf17"><span style="color: #000000;"><img src="https://assets-us-01.kc-usercontent.com/0542d611-b6d8-4320-a4f4-35ac5cbf43a6/a0f1b100-f88a-485f-bda3-68a4e878bf2a/cabin-insurance.jpg" data-asset-id="107c8fa0-7fe2-420f-9730-c5b974eaaf17" data-image-id="107c8fa0-7fe2-420f-9730-c5b974eaaf17" alt="What is the cost of cabin insurance" /></span></figure>
<p><span style="color: #000000;">As you can imagine, the cost of cabin insurance is highly variable. In most cases, seasonal home insurance might cost more than insurance for your primary residence. </span></p>
<p><span style="color: #000000;">This is due to how often the property is left vacant or its location. Let’s look at some factors that directly affect cost:</span></p>
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<li><span style="color: #000000;">Remote areas, for example, may be targeted by criminals or experience natural disasters that you won’t discover until you visit the property in the future. Highly trafficked areas also create possibilities for criminals to steal your belongings or vandalize your home. </span></li>
<li><span style="color: #000000;">Liability is a huge issue when it comes to determining how much you will pay for cabin insurance. Liability coverage can help with medical bills and time off work if you are held legally responsible for an injury on the cabin’s property. If you have a large number of visitors to the cabin, especially renters, you will need to insure your home as well as purchase additional coverage. An injury from a malfunctioning fireplace, for instance, can cause a deep financial burden on your property and other assets. You may need to have landlord insurance for renters as well as separate liability coverage for those who might wander on your property. </span></li>
<li><span style="color: #000000;">Similarly, having boats, ATVs and other types of recreational equipment can make lakeside cabin owners especially susceptible to liability for injuries that occur on the property. Most seasonal homeowners policies will cover the physical dwelling and other structures of the property such as boat houses, docks, sheds, and so forth. </span></li>
<li><span style="color: #000000;">Considering the high potential for injuries when recreational equipment is involved, the liability coverage limit on your primary homeowners policy may not be sufficient. Recreational equipment is rarely covered automatically under your cabin’s insurance policy. Instead, these items are insured separately either as a rider on your cabin’s policy or on a specialty policy. Therefore, you may want to purchase umbrella insurance to step up your liability coverage. As you may know, umbrella insurance policies kick in when the limit of your homeowners liability coverage has been reached.</span></li>
<li><span style="color: #000000;">Do you have a homeowners policy on your primary residence? If so, determining how much coverage you have for your cabin can get confusing based on whether you have a homeowners policy for your primary residence. In most cases, your primary residence extends some liability coverage to your cabin. But for those who may not have insured their primary residence, the cost of insuring a secondary residence can be expensive — or it may not even be offered by some companies. </span></li>
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<p><span style="color: #000000; font-size: 22px;">Common Questions about Cabin Insurance</span></p>
<p><span style="color: #000000;">As you can guess, cabin insurance encompasses a wide array of situations. </span></p>
<h4><span style="color: #000000;"><em>Question #1 - Do I need to insure the cabin with my primary homeowners policy?</em></span></h4>
<p><span style="color: #000000;">The truth is that some companies won’t write a cabin insurance policy if they don't insure your primary home first. The reason is that those insurers don’t want the increased risk of a home that is empty more than it is occupied. Consequently, insuring both properties (your home plus the cabin) with the same company is more convenient. </span></p>
<p><span style="color: #000000;">Simply add the second location onto your current homeowners insurance policy, which eliminates the need for a second policy as well as second bill to deal with.</span></p>
<p><span style="color: #000000;">However, there are a number of companies that specialize in writing a policy for your cabin on a separate policy without insuring your primary residence. Many are able to write with many of the same coverages as a homeowner’s policy while also offering built-in coverage for your recreational vehicles. </span></p>
<p><span style="color: #000000;">Similar to a regular homeowner’s policy, these policies can insure the contents of your cabin as a percentage of the dwelling amount for both theft and liability</span></p>
<h4><span style="color: #000000;"><em>Question #2 - If I have no buildings, do I still need to insure the vacant land?</em></span></h4>
<p><span style="color: #000000;">In most cases, pure vacant land is covered for liability by your primary homeowners policy. Coverage would apply if a person were injured on your land. But you should be careful of the phrase “vacant land” in your policy. Any development on the property may cause the land to not be considered “vacant” any longer. </span></p>
<p><span style="color: #000000;">This includes minimalist structures that may negate coverage, such as an outhouse, fencing, or a framed deer stand. </span></p>
<h4><span style="color: #000000;"><em>Question #3 - How are the contents in my cabin covered?</em></span></h4>
<p><span style="color: #000000;">Your possessions in your cabin depend on the size and usage. Policies run the gamut from no contents coverage at all, limited coverage on select items, or protection for items that are shared with your primary residence. </span></p>
<p><span style="color: #000000;">Other policies will cover a percentage of the dwelling amount, just like your primary home. It’s common practice for your primary home policy to automatically extend 10% of your primary home contents coverage to another location like your cabin.</span></p>
<p><span style="color: #000000; font-size: 14px;">Being proactive is the best way to protect those things that are special to you before there is a loss.</span></p>
<p><span style="color: #000000;">Once you’re set up, you can finally rest easy and enjoy the good life that comes with owning a cabin. </span></p>
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<div align="center" style="text-align: justify;"><span><span style="color: #000000;">To read the full article, </span><a href="https://smallbiztrends.com/2020/09/10-tiny-pivots-to-make-your-small-business-more-effective.html">click here</a><span style="color: #000000;">.</span></span></div>[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]