Unique Homes Real Estate News & Insights
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Independent insurance agents have access to multiple insurance companies, ultimately finding you the best coverage, accessibility, and competitive pricing while working for you. Perhaps unlikely, but if you happen to run a business out of your cabin , cabin insurance typically won’t cover any liability-related mishaps. Double-check your specific policy to be sure of coverage for special vehicles.
A remote log cabin may cost you more to insure because of the distance from a fire department. This typically means your claims risk is higher due to the inability to control a house fire effectively, especially when the house is made mostly of wood. The likelihood of a total loss on the home due to a fire is much higher if the fire department can’t reach the house in time to put it out.
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No two cabins or seasonal homes are alike, which presents unique challenges. For instance, during winter, your log cabin may be empty and sustain plumbing or electrical damage. You will want to choose a policy covering these potential issues and providing additional protection. Lastly, if you borrow the bank’s construction funds, you will need log cabin insurance anyway. Most lenders do not approve a loan if you cannot show proof of an adequate protection policy.
Anyone who has ever redone a kitchen has an idea of how much various cabinets can cost. I had an aunt who remodeled her home and spent over $50,000 on her new kitchen about 12 years ago. And we were quoted a rate of $665 a year with a $5,000 deductible .
It's all about your Log Cabin!
We’ve shed some light on the insurance process and why you need this important financial safety. First-Time Homebuyer's Guide Walk through the home-buying process with this step-by-step guide. Navigating Life Insurance Learn the ins and outs of life insurance through these helpful articles. Can be tailored to cover the building, content or both depending on whether you own or rent your flat.
Homeowners insurance covers damage like fire, break-ins, bad weather, and other potential risks to your cabin. Of course, only the specific perils stated in the policy will be covered by the insurance company. Cabin insurance is designed to help protect owners from losing their vacation home should disaster strike. Whether you build your custom log home or purchase an existing log cabin, it is very important to make sure that your property is insured for the correct amount. With the fires this summer and fall in the Western states, some homeowners have become painfully aware that they were in fact under insured.
How to Insure a Cabin
There are several factors specific to log homes that can impact your home insurance rates. Can protect you and your rental property against unexpected costs, like building or content damage, as well as any disputes. This is because insurers see timber framed homes as riskier to insure. Log Cabin, TX homeowners insurance is about $831 to $1,130, about $69-$94/month. Our in depth analysis reveals consumers can save upto $392 by getting multiple quotes. Enter your zipcode below and click “GO” to get multiple free quotes.
Most custom log home have fireplaces, wood floors throughout, custom log staircases, log railing, wood ceilings, cathedral ceilings, wide roof overhands, custom kitchens, etc. A stone fireplace build from masonry blocks and native real stone can add a whole lot to the cost. If you have a masonry chimney I would recommend getting an estimate from a local stone mason before signing off on your insurance cost. If the chimney is build with a zero clearance fireplace insert unit and covered with cultured stone it is still expensive. So it is always a good idea to get an estimate from a stone mason. Wood Species- pine is most common, but there are many other types.
Conversely, if they rarely or never occur there, you may want to take them out of the policy. It’s a fact,log home insurance is typically 20% morethan insurance for the same size non-log home. Worse yet, many insurance companies charging a 25% to 50% surcharge for a log home.
That said, your cabin may need to meet certain requirements, like if your roof is over 15 years old you may need to replace it, depending on the insurance company. If you’re building a log cabin from the ground up, or making large renovations to your cabin, you’ll want to protect the construction materials with builders risk insurance. Builders risk insurance can help protect the building materials of your cabin in the event it is damaged during the construction period. The frequency in which you use your cabin will affect the type of policy you purchase.
If you have a newer timber framed home, it’s normally fairly straightforward to find cover and you should just be able to take out a normal home insurance policy. This is because newer builds have to be built to modern building standards, and so insurers deem them less risky to insure than older ones. This includes minimalist structures that may negate coverage, such as an outhouse, fencing, or a framed deer stand. Speak with our independent insurance agents to learn how susceptible your property may be. Speaking with our independent insurance agents can help clear up any confusion about protecting your cabin so you can enjoy peace of mind. Independent insurance agents can help you find the right company and the lowest premiums.
As with any home, the assessed value of your log cabin will affect the price of insurance. The location matters, as well, from the size of the property to the surrounding area. The type of foundation the house is built on will factor into the cost of seasonal cabin insurance, as well. If you’re having the house built, make sure an experienced contractor is on the job.
If you only visit the cabin on a seasonal basis each year, you may need seasonal cabin insurance to keep it safe from harm during the times it is vacant. While we may see $205 per square foot in Gallatin Gateway, Montana for a handcrafted log home, if you go another 30 miles south to Big Sky, Montana the prices jump to $350+ per square foot for a minimum on a turnkey. So be sure to also add some if your home is in an elite area like Big Sky, Aspen CO, Sun Valley ID, or Jackson WY. We have also found that Cooke City, Montana is much more expensive. A turnkey on an 9 inch Swedish Cope log home came in at about $172 per square foot. Right now in Cooke City, Silver Gate, Montana area we are pushing $210 per square foot due to the hard access to that neck of the world.
The type of wood used and the fire rating of the logs are important factors in the cost of seasonal cabin insurance. In order to protect your cabin against flood or earthquake damage, you’ll need a flood insurance or earth movement policy. Flood insurance policies are only available through the National Flood Insurance Program, which is a part of FEMA. Cabin owners may want to seriously consider getting a policy if their vacation home is located in an area prone to flooding. The value of your log cabin extends beyond construction costs, or its actual cash value, says Hanson. This is called your home’s true replacement value, and often covers items inside your home.
What Are the Benefits of Cabin Insurance?
Also, he notes that homes built with 8-inch or larger logs may be better able to withstand windstorms, tornadoes and hurricanes. One commonly held belief about log homes and insurance does hold true. Generally, insurance companies are wary of homes with wood shake roofs.
But what happens if some of those materials are stolen during construction? All these “what-ifs” could keep you awake at night, or you could just make sure you’re protected against them with adequate insurance coverage. Although obtaining insurance for your log home before it’s even built may seem unnecessary, you’ll be happy to have it if you should need it. Yes, Geico and many other major insurance companies offer homeowners insurance for log homes or cabins.
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