Seasonal Dwellings
Offered by American Modern Insurance Group
Description
Owners of a higher-end second home typically want to insure it with a policy similar to what they have on their full-time residence, which includes a comprehensive list of causes of loss and replacement cost settlement. Your agent may refer to this kind of coverage as "special form" or "DP-3."
But many vacation homes are older. Some may well lack insulation, a furnace or central air, possibly even electricity. Even the porch may sag a little. Homes that are well-loved, but not in pristine condition, likely do not qualify for comprehensive coverage. Instead, they need something more basic. Your agent may refer to this kind of coverage as "basic form," "DP-1" or simply "fire insurance."
American Modern offers both types of coverage.
Comprehensive coverage Eligible home types:
• Homes up to 80 years of age (60 years in some states)
• Roof updated within the past 20 years
• Above average or better condition
• Up to a four-family structure
Coverage provided - Any cause of loss is allowed except those specifically excluded in the policy documents. Losses are settled at the replacement cost, up to the policy limit. There is no depreciation deduction.
Flexible coverage Eligible home types:
• No age limit on the structure
• Fair or better condition
• Up to a four-family structure
Coverage provided - The policy covers just those causes of loss listed by name in the policy documents (fire, lighting, wind, hail, explosion, and others). It covers the most common risks, but not everything. Losses are settled for the actual cash value (ACV), which takes depreciation into account. In many states we offer an upgrade to full repair cost coverage.
But many vacation homes are older. Some may well lack insulation, a furnace or central air, possibly even electricity. Even the porch may sag a little. Homes that are well-loved, but not in pristine condition, likely do not qualify for comprehensive coverage. Instead, they need something more basic. Your agent may refer to this kind of coverage as "basic form," "DP-1" or simply "fire insurance."
American Modern offers both types of coverage.
Comprehensive coverage Eligible home types:
• Homes up to 80 years of age (60 years in some states)
• Roof updated within the past 20 years
• Above average or better condition
• Up to a four-family structure
Coverage provided - Any cause of loss is allowed except those specifically excluded in the policy documents. Losses are settled at the replacement cost, up to the policy limit. There is no depreciation deduction.
Flexible coverage Eligible home types:
• No age limit on the structure
• Fair or better condition
• Up to a four-family structure
Coverage provided - The policy covers just those causes of loss listed by name in the policy documents (fire, lighting, wind, hail, explosion, and others). It covers the most common risks, but not everything. Losses are settled for the actual cash value (ACV), which takes depreciation into account. In many states we offer an upgrade to full repair cost coverage.
Details
Has Pen
Offered By
Availability 50 states + DC
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Covered
Not Covered
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