Cottage or seasonal Insurance
Whether you own a lake house, chalet, cabin, lodge, seasonal property or vacation home, we’ve got coverage for your cottage, and everything inside. Insuring a seasonal property is similar to insuring your home. In some cases, we can even add your cottage to your home policy as a seasonal or secondary location.
Cottage Insurance
Your cottage is your escape. Your insurance should be there when you’re not.
Cottages and seasonal homes have a different set of risks than your primary residence. They may sit unoccupied for weeks or months, face harsher weather, and be located farther from emergency services. That can make the right insurance coverage especially important.
Seasonal home insurance can protect the building, contents, outbuildings and liability, depending on the policy. It can also provide coverage for things that are uniquely “cottage” like a boat house, shed, dock or other structures.
And while you’re busy enjoying the lake, you probably don’t want to worry about what happens when you’re away. Proper coverage can help protect against fire, storm damage, theft, water damage and other unexpected surprises.
Because your cottage is where you go to relax, not where you want your insurance worries to follow you.
What you should consider for cottage insurance
There are lots of coverage options for your cottage or seasonal home. But here are a few things to think about:
Waterfront property?
If you own kayaks, canoes, boats or jet skis, we have coverage for them. we also have coverage for your gear and everything else you love on the water.
Rent your cottage?
If you rent out your cottage, ask about our cottage rental insurance or Airbnb insurance. You’ll want to make sure your investment is properly covered.
Your belongings?
If you’ve furnished your cottage with second-hand items or garage sale gems, you may be able to save some money by reducing your contents coverage.
Supporting policies?
It is almost always cheaper to insure a cottage or seasonal home if that insurance provider has he support of your principal home. Sometimes this is a requirement.
The current values?
If you’ve been renewing your cottage insurance for years without thinking about it, request a valuation to review the current costs to rebuild or repair.
Boathouse or dock?
If you have detached buildings such as boathouses, sheds, or docks at the cottage, let us know and we’ll make sure they are covered on your policy.
Fireplace or stove?
Make sure your fireplace or woodstove is properly installed and certified through a WETT inspection. Almost all insurance companies require it.
Common claims
Storm damage
Cottage country can be more susceptible to strong winds, heavy snow and ice storms. These scenarios can cause significant damage to your seasonal home.
Fire, flood or pipes
When there’s no one around to take action, and or resources are not nearby, fire and water can cause extensive repairs to your cottage.
Animal damage
Animal damage is often not covered, so check with your broker, but bears and raccoons can do a lot of damage, especially in the off-season.
Theft or vandalism
Check with your broker if theft and vandalism are covered. Either way, motion sensor lights and security cameras are a good deterrent.
Frequently asked questions about cottage insurance
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Not really. As a percentage of the property value, cottage insurance can be more expensive than homeowners’ insurance. There are two main reasons. 1. Many cottages are not hydrant protected and the fire stations are not close by. 2. Cottages tend to be unoccupied a lot of the time. If a pipe bursts or a fire starts while no one is there, the damage is less likely to be contained.
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No. If you buy regular cottage insurance and don’t tell your broker that you plan to rent the cottage out, whether privately or on a short-term rental site like Airbnb or Vrbo, you could later be shocked if you have to make a claim, because it would likely be denied.
If you plan to rent out your cottage, your HMS Insurance broker will be happy to discuss options for what we call Airbnb insurance. It’s a little more costly, but you’ll be covered for all risks related to a rental property.
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Sometimes. Depending on what insurance company you’re with, some offer a small discount (5%) for adding your cottage to your home policy.
When you call HMS Insurance for a cottage insurance quote, your broker can also check to see what your best overall deal would be on your home, auto, cottage and other insurance needs. Some companies have great options for motorcycles or cottages or boats, and switching may be your best bet.
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The biggest and most expensive part of your cottage insurance policy is the part that covers the building(s). This is called dwelling coverage, and is subject to an upper dollar limit. Your broker estimates this amount, based on the current cost of building materials and labour in your area. But these costs can and do change. It’s a good idea to discuss this with your broker every few years at renewal time, to make sure your property isn’t underinsured.
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Like any other type of insurance, the best way to keep your cottage insurance rates affordable is to avoid claims. This could mean:
1. Making sure that smoke alarms and fire extinguishers are always in good condition;
2. Equipping all water craft with life jackets.
3. Keeping toys, tools and debris out of walkways;
4. Taking valuables with you when you leave;
5. Draining pipes and septic system before winter;
6. Securing loose outdoor items like canoes, chairs and picnic tables;
7. Installing cameras and motion sensor lights to discourage thieves;
8. Boarding up windows for the winter.
Save on property insurance with bundle discounts
Combine your home and auto coverage to save 10-20% on your premium.