Seasonal Cottage Insurance in Ontario
All About Seasonal Cottage Insurance in Ontario
When it comes to property ownership, many Canadians not only have a home but also an additional cottage or summer home. In most cases, Canadians have a lot of knowledge about home insurance, whether it’s designed for a house, apartment, or a condo.
However, a lot of people don’t even know that cottage insurance policies exist and the differences between this and regular home insurance. Your vacation home isn’t cheap, and you need to ensure that it has proper insurance to avoid heavy costs on your part.
Types of Cottage Insurance Policies
When getting your own cottage insurance, it’s important to understand how you’re using it to be able to determine what kind of policy would be best.
Seasonal Cottage Insurance Policy
This type of cottage insurance policy is a package that includes general coverage which can cover all of the replacement and repair costs of your main buildings that are located on the property as well as their interior.
A typical example of where this kind of insurance policy could be used includes properties with water access. Additionally, this kind of policy is best for owners that don’t use their cottage that often. This is why it needs less coverage and costs less.
Secondary Seasonal Cottage Insurance Policy
These kinds of policies offer a more in-depth coverage. They can be adjusted according to your needs and help you ensure your cottage against any type of accident you want. If there are some special conditions surrounding your cottage, this is the option you should consider.
This type of insurance policy is a bit more expensive, but this is because it is quite similar to regular homeowner policies and offers extensive coverage. This is also a good idea if you plan on renting your cottage throughout the year.
Liability Cottage Insurance
Speaking of renting a cottage, if you decide to do so, definitely make sure to get liability cottage insurance. This kind of insurance will protect you from any costs if someone else gets injured while in your cottage or the surrounding property.
You can even protect yourself from any claims filed by neighbors for negligence. Make sure to get just enough liability insurance and consult with your broker so that you never have to personally pay for someone’s injuries.
|Address||My Insurance Broker|
50 West Wilmot Street, Unit 5
Richmond Hill, ON L4B 1M5
|Toll-free||1 (855) 482-5001|
|Mon-Fri||9am - 6pm|
|Sat||10am - 1pm|