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Protecting Your Waterfront Home

Posted by Luke Bouman on Tuesday, January 21st, 2014 at 9:26pm.

West Michigan is home to some of the most beautiful lakefront properties in the Midwest.  Cool breezes, spectacular views, and long walks on the beach are just some of the benefits of owning Michigan Lake Michigan Real Estate.  One of your top priorities when purchasing waterfront property should be making sure that your investment is properly protected. Insuring a high value home can bring unique challenges and uncertainties.  Lakefront homes are often exposed directly to nature’s elements and can create a higher risk for loss due to the weather.  Most insurance companies will want to know if your waterfront property will be your primary, secondary, or seasonal residence since this can make a difference in the price and whether or not the company might even insure the home or not.  Another important factor in covering your home is determining the reconstruction cost if your home were to be a total loss.  Most carriers will want to insure the home for the full reconstruction cost and with all the amenities of a luxury home, this can turn out to be a much higher number than what you are purchasing the home for.  Most insurance companies also will have limits on the amount of insurance they will provide for a single dwelling so it’s important to know that your current insurance company may not be the best fit for your new purchase.  Working with a trusted local agent in West Michigan can go a long way in making sure your lakefront home is properly insured.
 

Matthew D. Gritter
Rivertown Insurance Agency, LLC

150 Ann St. NW
Grand Rapids, MI 49505
616.456.2720  Main Office
616.920.0456  Direct Line
866.759.5114  E-fax


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