Ignoring liability risks created by pools, docks, hot tubs, or guest use. Leaving the property without monitoring systems or routine checks. Failing to review the policy after renovations, rising construction costs, or changes in use. Understanding Business Owners Policy Insurance for Healthcare Facilities in Florida. Several errors come up repeatedly with second homes. Assuming the primary homeowners policy covers the second property. Underinsuring the home based on purchase price instead of reconstruction cost. Forgetting to add flood, earthquake, or water backup coverage where relevant. Renting the home without telling the insurer.