Policy Terms
Secondary Home
Definition
A secondary home (also called a second home or vacation home) is a dwelling that the owner occupies for part of the year but is not the primary residence. Insurers distinguish secondary homes from primary residences and rental properties because occupancy patterns affect risk. Secondary home policies may carry higher premiums or different underwriting requirements, and carriers typically require that the home not be rented out for more than a specified number of days per year to qualify for secondary home rather than landlord or rental dwelling coverage.
In Zach’s Words
“A secondary home is a place you own in addition to your main residence — like a vacation house in Tahoe or a condo at the coast. Insurance companies care about this distinction because a home that sits empty part of the year has different risks than one you live in full-time. Pipes can freeze, leaks can go unnoticed, and break-ins are more likely when nobody's around. You'll usually pay a bit more to insure a secondary home, and carriers will ask how often you're there and whether you rent it out. If you start renting it — even just a few weeks on Airbnb — that can change what kind of policy you need entirely.”
— Zach Nadler, CIO