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Step 1
Find out whether there are any gaps in your insurance coverage on your vacation condominiums. If you have an insurance agent who is experienced in handling vacation condo policies and claims, he can tell you whether there is anything that could come up that you may not have covered. Because this is a building that you'll be away from most of the time, make sure you're well covered.
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Step 2
Understand the coverage you have through your condo association, if there is one. Typically condo association insurance policies do not cover drapes, carpets and wall coverings, any structural improvements you make, any improvements made by the unit owner since the unit was built, and anything but exterior bare walls and floors.
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Step 3
Get to know some people who live in the area of your vacation condo. If you have a good friend, relative or someone else you trust who lives nearby, have them go check on your condo now and then. Make sure things are fine and that there isn't any vandalism or theft. Doing this can save you a lot of time when you do get there and manage your risks.
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Step 4
Rent the vacation condo to others when you're not there and make sure you have proper renters' insurance. Having the appropriate renters' insurance along with your homeowners policy can keep your risk to a minimum.
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Step 5
Find out if there are any gaps in your coverage. If there are any gaps in your coverage, fill the void. Make sure you're well covered in property that you won't be at very often.
