Do you Need Special Insurance for a Cottage or Cabin?
If you own a cottage or a cabin, it is likely an important part of your life. While a cottage may serve a variety of purposes for you, whether it is a favourite family getaway spot or a year ‘round place of residence, there will definitely be one major consideration you will want to make. This being, having the right type of insurance coverage for your needs.Since insurance for recreational properties does differ from primary home insurance, it is important to look into your options for specialized insurance coverage that is geared towards cottage and cabin purposes.When examining insurance options, the first step is to begin with deciding what your exact plans will be for your cottage moving forward, as this will help guide you in the right direction in terms of finding the type of insurance that will align best with these plans.
How Will You Use Your Cottage?
During this stage, you will want to identify how much time you will typically spend at your cottage. For example, will you occupy it all year round or will it be more of a seasonal spot only? In the end, each of these plans will factor into the type of insurance coverage you will need.
If your cottage is your secondary residence and you will be the only occupant, then it is possible for insurers to add this onto your primary home insurance policy. With that being said, not all coverage is created equally and there will be some exclusions. Therefore, it is best to look at the specifics of each policy and what will be covered.
What Coverage Will Meet Your Needs?
When it comes to separate cottage insurance policies, often referred to as recreational property insurance, there are several insurance packages worth considering. Additional coverage for seasonal properties that are only in use some of the time, can include: risk of damages to the property and structure, such as vandalism, fire and smoke damage, water damage, or any other such perils. Fortunately, also known as Peril Policies, these plans will take into account the unique cottage insurance needs you may encounter.
Liability insurance is also worth considering as this will help protect you in the event someone is injured on your property. This type of insurance also covered issues in relationship to situations when you are deemed responsible for causing damage to a neighbouring property or home.
Contents Coverage is another type of insurance to factor in, as there are likely items that you will leave at the property all year round. While any belongings, such as clothing or personal items that you take back and forth with you can be covered under primary home insurance, items remaining in the cottage will also require special insurance.
Lastly, if you store watercraft, such as canoes, sailboats, power boats, etc. at your cottage, some extra coverage will be needed as well to protect this valuable pieces of equipments.
Since you may have additional cottage or cabin insurance needs not listed here, then it is best to always contact a reputable insurance group to find out more about the specific insurance policies that are designed to help protect your property and your belongings.
Contact Leaders Insurance to learn more about the recreational property packages that we can put in place for you and how these special insurance policies can enable you to enjoy your time at your ‘home away from home’, however you choose to do so.