Cottage Insurance Quotes in Ontario
At BIG, we understand that some of the best times are spent at the family cottage. Your cottage is not only a sentimental treasure but also a valuable asset. If you spend just a few months of the year there or use it year round, it’s important to ensure that it is insured. There are several things to consider when getting second home insurance so be sure to contact your BIG broker so they can help you.
What Is Cottage Insurance and Why Do I Need It?
Your cottage is your escape from the stresses of everyday. So, your home away from home should have insurance to protect it in the same way as your protect your primary residence. Seasonal home insurance is very similar to insuring your primary home. In fact, several insurance companies will insure your cottage on your home insurance policy. You could also have cottage insurance on a separate policy if it works better for you. The most common type of insurance claim is water damage. If you are only using your cottage seasonally, it is advisable to install temperature and water alarms to notify you of frozen pipes or flooding. Some insurance providers may provide discounts for cottage owners with preventative measures such as these.
Another challenge with cottages is that often the heating sources include a fireplace or wood stove. These quaint additions to your cottage can be insured as long as they have been professionally inspected.
You must let your holiday home insurance provider know if you rent your cottage out to others. Your insurance broker can confirm if it is permitted by your insurer and make sure you have appropriate coverage. If you rent your cottage to others such as through Air BnB, it is imperative to get third party liability to protect you if they are injured on your property.
How Much Does Cottage Insurance Cost?
Insuring your property can avoid unwanted repair or replacement bills in the future. There are several factors that influence the cost of your cottage insurance:
- Location - when looking at second home insurance, your location is key. How close you are to a body of water, fire hydrants and flood risk of the area can all play a part in how much your insurance costs. Several insurance companies will not consider your property if it’s in a location that is at high risk of flooding.
- Heating - how is your property heated? Oil heating typically increased your insurance premiums due to risk of leakage compared with propane, electric of gas. In addition, if you have wood stoves as your primary heating source they will be more expensive to insurance.
- Building Materials - cabin insurance can be more expensive if the materials are more risky, or more costly to replace. Log homes are more expensive to insure because the repair costs are higher.
- Replacement Cost - if your cottage is in a remote location, the transport of materials to that location may be more expensive than your property itself. Even if the home is only worth very little, the replacement cost may be higher than the value.
One way to save on your cottage insurance is through your contents insurance. If your cottage is furnished with second-hand items and lower cost items, you could save money if you’re comfortable with lower contents coverage. Talk to a broker about additional discounts that could save you money on your cottage insurance.
How Do I Get Cottage Insurance with Billyard Insurance Group?
There’s comfort in having a BIG broker do your research for you. They always work for you — not the insurance company — comparing quotes and plans to find the coverage and price that’s exactly right for your unique situation.
Contact us today by filling out a quote form or calling us directly. Think BIG. We’ve got your back.