If you own multiple properties, it’s crucial to understand what constitutes a "second dwelling" to determine whether they are eligible for Secondary Dwelling and rental insurance. Here are a few key points to keep in mind to ensure the property’s safety and protect any tenants residing in the home.

Primary Residence is Elsewhere

If you own a property but live elsewhere full-time, this property is considered a second dwelling. This could be a vacation home you visit periodically or rent a property. This property is separate from your main residence and can be located nearby or many miles away in a different town or county. Many of these properties are either inherited or purchased to generate rental income.

If you plan to rent out the property monthly or weekly, you’ll need to apply for second dwelling insurance to cover the structure of the home in the event of damage. For long-term rental tenants, obtaining their own renters insurance for their personal property is recommended.

A Separate Structure on Your Main Property

A second home built on your property that operates independently of the primary structure can also be considered a second dwelling. This could be a home used for guests or rented out. It will have its own kitchen, bathroom, and living space that operates independently of the main home.

If you want to learn more about second dwelling and rental insurance, we’re here to help at The Insurance Mart. We proudly assist homeowners in and around the Blue Ridge, GA area.