Have you decided to buy a Retirement, Vacation or Beach Home?

If you are searching for your dream vacation home or a second home you might retire to, make sure you research the availability and cost of homeowners insurance before you commit to the purchase. Often, the very factors that make a vacation or beach home seem ideal-whether it is a waterfront property or a mountain retreat-can introduce risks that, together with the fact the home is likely to be vacant much of the time, can make it costly and difficult to insure. In the event you have already bought a vacation home, don't skimp on the insurance. The risk of theft or disaster is just as significant, if not more so, in a second home as in your primary residence.

If your new vacation property is close to the water, be sure to ask about flood insurance. Damage to your home or belongings resulting from flood is not covered under standard homeowners insurance policies.  That is the reason it is so important to have the right coverages as part of your beach house insurance program. Flood insurance is available from the National Flood Insurance Program (NFIP), and on a much less frequent basis from private insurers. You can ask your agent or representative to what extent your home might be at risk for flood damage. The NFIP Web site also has a handy tool for assessing your flood risk-just enter your address, and it will tell you your level of risk click here to Link to the Flood Risk Analysis tool. Some homeowners insurers do offer flood coverage in excess of the NFIP policy.

For more information, see the Homeowners Insurance Checklist.