Table of Contents
- Secondary or Seasonal?
- Determining Coverage
- Civil Liability
- Rental Property
- Keeping Your Cottage Safe
- Action Steps
For most cottage owners, their getaway destination offers a chance to unwind from the daily hustle and bustle. To keep your cottage stress-free, ensure you adequately insure it and protect it from preventable losses by following these essential cottage insurance tips:
Secondary or Seasonal?
When choosing insurance, you must consider the differences between:
Secondary
- The cottage is accessible year-round, and you split your time between the cottage and your primary residence (weekends, vacations, etc.)
Seasonal
- The cottage is only used during the winter or summer.
Moreover, insurers view properties as higher risk when they remain unoccupied for extended periods. Since no one is present to limit damages, the risk of loss increases significantly. Make friends with your neighbours so they can keep an eye on your property while you’re away!
Determining Coverage
Insurance premiums on your cottage insurance are influenced by:
- Location and accessibility
- Value of the cottage including furniture and equipment
- How the property is used
- Age of the building
Your Broker will work with the insurer to tailor your coverage based on your needs and how often you use the cottage. Additional coverage can also be added for protection against theft and vandalism.
Good to know
If you’re planning for renovations, let your insurer know. Coverage will be re-evaluated to make sure your cottage isn’t under-insured.
Civil Liability
You have a responsibility to keep your cottage well-maintained and secure. With civil liability coverage, you’re protected in the event someone becomes injured on your property or you cause damage to someone else’s property.
Rental Property
The rise in vacation rental services such as Airbnb has made renting cottages much easier for both owners and trip seekers. Consequently, an otherwise empty cottage can now become a source of revenue for owners.
However, it is crucial to inform your Broker of your intentions to use your cottage as a rental property. Many insurers, in fact, do not permit this type of usage for seasonal properties, which means coverage could be denied in the event of a loss.
Keeping Your Cottage Safe
To reduce the risk of theft, vandalism, fire, or water damage:
- Store outdoor valuables like bikes and barbecues or take them home.
- Lock all doors, windows, and sheds.
- Shut off the property’s watermain.
- Unplug all appliances.
- Install an alarm or detection system monitored for fire, theft, and water leaks.
For cottages with combustion heating systems:
- Keep a fire extinguisher handy.
- Install a carbon monoxide detector.
- Perform maintenance as the manufacturer recommends.
- Store combustibles away from heat sources.
- Dispose of excess residues safely.
Action Steps
Following these essential cottage insurance tips will help keep your getaway safe and stress-free.
Need more advice on insurance coverage? Speak with a Broker to assess your needs and find out how Unica can help protect your cottage.
