Summertime Homeowner's Insurance Considerations

The summer season means poolside weekends, outdoor recreation and long-awaited travel plans. While you’re out having fun in the sun, be sure your homeowner’s insurance applies to seasonal hazards, which can put you in the red if you don’t have adequate coverage. Keep these areas in mind:

Pool Insurance – Pool accidents are much more common than you think – and if they happen in your backyard, you’ll be liable. Protect yourself from paying sky-high medical expenses or going through legal proceedings by ensuring you have the right amount of coverage. For a maximum safeguard, adopt an umbrella policy.

Home Rental – If you’re planning to rent out your home for vacation use, be certain you meet all insurance requirements: some allow short-term rentals under your regular policy, but others may call for more coverage. Additionally, long-term rentals can cost up to 25 percent more. Regular rentals (not for vacation use) will not be covered.

Vacation Rentals – If you’re the renter, speak with your agent about whether your homeowner’s insurance covers damage where you’re renting. If you’re booking through an online portal, check to see if there’s a policy in place for unforeseen events.

Source: Bankrate 

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