Broker Check
Edward Penner
Edward Penner
C&N Investment Services Wealth Advisor
https://www.cninvestpa.com/ 570-724-0201

As a Wealth Advisor for C&N Investment Services, Edward has spent 4 years with us imparting his experience to each and every client he serves.  Through retirement income planning and overall financial planning, he helps individual and families to take a holistic view of their finances.

Edward holds a B.S. from Mansfield University and an MBA from Southern New Hampshire University, as well as Series 7 and 66 registrations, currently held with LPL Financial.  Ed and his wife Jody enjoy camping and spending time with their 2 daughters and 1 son.

Insuring Your Second Home

Insurance Read Time: 2 min

When it comes to insuring your second home, you may find that the coverage you need is quite different from what you have on your primary home.

The Unique Risks of a Second Home

Your current homeowners policy may allow for coverage of two properties under one policy, but because there are unique risks with a second home, a separate policy may be more conducive to obtaining the coverage you need.

Here are some of the special risks you may need to cover:

  • Long Periods without Occupation

    An unoccupied home can invite trouble. Without a presence, there is no one to fix a leak, respond to weather damage, or even report a fire. It also may become a target for burglars.

  • Isolated Location

    While seclusion may be a top priority for a vacation home, it also means that you may be far removed from the services that can prevent larger losses, such as a fire hydrant or fire department.

  • Renters

    Renting out your home when you’re not using it may be a good idea to offset the costs of ownership. However, having renters (or even guests) may increase your liability to any damage or injury associated with their stay.

Be sure to work with an agent to secure the right coverage. Also, discuss the benefit of raising your personal liability coverage to protect you from any increase in risk to your personal wealth that may come with offering your home to guests and renters.1

1. The information in this material is not intended as legal advice. Please consult a legal professional for specific information regarding your individual situation.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

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