What Insurance Do I Need For My Wisconsin Lake Home?

When it comes to protecting your Wisconsin lake home, it’s important to have the right insurance coverage in place. Not all insurance policies are created equal, and you’ll want to make sure you have coverage for the specific risks you face as a lakefront property owner.

Homeowners Insurance Coverage

First and foremost, you’ll need a standard homeowners insurance policy. This will provide coverage for damage to your home and other structures on your property, as well as personal property coverage. However, it’s important to note that standard homeowners insurance policies may not cover damage caused by floods, so you may need to purchase additional coverage for these risks.

Rental Insurance Coverage

If you’re planning to rent out your lake home, you’ll also want to consider purchasing a vacation rental insurance policy. This type of policy will provide liability coverage in case a guest is injured on your property and will also cover loss of income if your property is damaged and unable to be rented.

Umbrella Insurance Coverage

Another important coverage to consider is umbrella insurance. This type of policy provides additional liability coverage beyond the limits of your homeowners or vacation rental insurance. This can be especially important if you’re found liable for a large claim, as it can help protect your assets.

Review Your Policy Annually

Lastly, it’s important to review your insurance policy regularly to ensure that you have the right coverage for your needs. You should also inform your insurance company of any changes to your property, such as a new dock or boathouse.

Protecting your Wisconsin lake home requires a combination of standard homeowners insurance, vacation rental insurance, flood insurance, and umbrella insurance. Reviewing your insurance policy regularly and informing your insurance company of any changes to your property will help ensure that you’re properly covered in the event of a loss. At MGW Law, we help Wisconsin residents and businesses get the fair insurance claim payments that they deserve – if you’re facing a denied or delayed insurance claim we can help.