While some people may prefer the beach, others are more fond of a mountain retreat. Log homes, or log cabins, are commonly purchased as vacation homes in the mountains or other remote areas. This is especially true in beautiful, mountainous areas like Sevierville, Pigeon Forge, and Gatlinburg, Tennessee or Cashiers, Highlands, and Asheville, North Carolina. While your vacation home will not be covered by the same insurance policy as your primary residence, you can still protect it with a vacation home insurance policy. But are log homes more expensive to insure?
YES, LOG HOMES ARE OFTEN MORE EXPENSIVE TO INSURE
Log homes are built from logs or timbers, which are usually cut from trees such as pine, cedar, spruce, and fir. Their construction gives them a unique, rustic look that makes them well suited to be mountain vacation homes. However the materials they are made from can also make them more expensive to insure than other types of vacation homes. While there may be some initial sticker shock when shopping for insurance for a log cabin, it’s important to remember that there is still coverage available and it doesn’t have to be incredibly expensive. And when it comes down to it, the costs are low compared to the peace of mind of knowing you are protected.
LOG CABIN INSURANCE REQUIRES SPECIAL CONSIDERATIONS
Insurance companies typically consider log homes as having special risks associated with their structural design and building materials. As such, they require additional underwriting considerations in order to properly assess the risk and determine an appropriate policy rate. Some of these considerations include the age of the home, its distance from fire services, its location relative to fire hazards or extreme weather events, whether or not it has been maintained, and the type of materials used in its construction.
INSURANCE COVERAGE FOR YOUR VACATION HOME IN THE MOUNTAINS
Fortunately, there are insurance policies specifically designed for log cabins used as vacation homes. An insurance policy for your vacation home typically covers damage resulting from fire, lightning strikes, windstorms and hail storms, explosions caused by gas leaks or overloaded electrical circuits, and vandalism. It also includes liability coverage in case someone gets injured on the property or if you are sued as a result of damages to another person’s property.
Additionally, many of these policies offer the option to bundle coverage for both primary residences and vacation homes under the same policy. This can save homeowners time and money when insuring multiple properties.
VACATION RENTAL INSURANCE FOR LEASING YOUR LOG HOME
If you plan to rent your log cabin to vacation renters or lease it long-term, you will require an additional policy for the added risks associated with letting renters stay on your property. This is a special type of insurance policy known as landlord or rental property insurance.
This type of policy provides liability coverage if someone gets injured on the property and pays for repairs to any damages that occur while the property is being rented out. It also includes protection against theft and vandalism, as well as damage caused by renters’ negligence. In some cases, this type of policy may even cover lost rental income if the vacation home has to be closed down after a covered incident.
INDEPENDENT INSURANCE AGENTS CAN HELP
Overall, it’s important to remember that log homes are just like any other vacation home when it comes to insurance — there is coverage available and you don’t have to break the bank to get it. With the help of an independent insurance agent, you can find an option that fits your needs and budget. Log homes can be expensive to insure due to their unique construction materials and methods; however, there are policies specifically designed for these types of homes that provide adequate coverage at an affordable price. Vacation home insurance and rental and landlord policies can provide additional coverage for those who own or rent out second homes. Speaking to a qualified insurance agent is the best way to make sure you’re getting the right coverage for your situation.
VACATION HOME INSURANCE IN SEVIERVILLE, TENNESSEE
Ownby Insurance Service developed our vacation home insurance and vacation rental insurance programs with customers like you in mind. We are based in Sevierville, TN, surrounded by the Great Smoky Mountains, so we work with many customers (both local and regional) who own log cabin vacation rentals. Our experience works to your advantage, and our relationships with insurance companies allow us to present you with a range of coverage options based on your wants. We look forward to helping you insure your log home.