Blog Post No. 167
Insuring Second Homes vs. Principal Residences: Understanding the Nuances – George Seatter
George has over 20 years of experience in the insurance industry, starting as an insurance advisor before quickly progressing to branch management and then leading various regions.
With a deep understanding of the importance of trusted advisors and the role of general insurance in protecting clients’ assets, George knows how to create bespoke insurance solutions that cater to the unique requirements of HNW clients.
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Are you aware of the crucial differences between insuring second homes and principal residences? Join us in episode 2 with George Seatter, as we go through the nuances and highlight key considerations.
In this episode, George Seatter discusses the differences between insuring second homes versus principal residences. He highlights the importance of understanding the risks associated with each type of property.
Second homes, which may include properties owned by international families or individuals with multiple residences, require specialized insurance coverage. Insurers are particularly concerned about managing risks during unoccupied periods, such as potential leaks or thefts. To mitigate these risks, insurers often require regular property checks and recordkeeping during extended periods of vacancy.
Our guest also shares insights on managing client expectations and balancing their needs with insurance requirements. Additionally, he mentions innovative technological solutions, such as building control panels, that can help automate certain risk management processes. Tune in to gain valuable insights into insuring second homes and navigating the nuances between primary and secondary residences.