Opening a cottage is an exciting event shared by many Canadians every spring. A cottage is more than just a weekend getaway; it’s also a place to share lasting memories with friends and family.
Cottages can be added to a property policy and will also include coverage for outbuildings, such as garages and sheds, and liability. If you own a high value cottage, island property, or rent out your cottage, you may find it doesn’t qualify.
For these types of cottages, we turn to a specialized cottage policy that’s available through several insurance companies. Not only can these policies accommodate a wide variety of cottages, they also allow you to choose from a variety of coverages.
If you plan to rent out your cottage this year and haven’t done so in the past, take the time to ensure it’s permitted before you put out the ‘for rent’ sign. While some policies may allow you to rent out, they can have tight restrictions.
It’s also recommended that you determine in advance what your renters will be permitted to use, such as boats, jet skis, other watercrafts or even a hot tub. The insurance company will require these details. If you don’t want an item used, ensure it’s locked or removed from your property.
If you’ve recently purchased a cottage, or are a long-time owner of one, contact us today to find out more, or to obtain a free-no-obligation quote.