We’ve got your cottage covered even when you’re not there
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. Give us a call and we’ll sort out the details for you.
How much is cottage insurance in Ontario?
Cottage insurance generally costs between $400 to $900 a year, depending on the location and a few other factors. As a brokerage for more than 70 of Ontario’s top insurance companies, we have access to some of the best coverages and rates in Ontario for auto, home, cottage and boat insurance. It also means, you’ll never have to shop and compare again. We’ll do all the work for you! Start your quote today.
When shopping 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.
What’s the current value?
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.
Contents coverage?
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.
Fireplace or wood stove?
Make sure your fireplace or wood stove is properly installed and certified through a WETT inspection. Almost all insurance companies require it.
Rent your cottage to others?
If you rent out your cottage, ask us about cottage rental insurance or Airbnb insurance. You’ll want to make sure your investment is properly protected.
Other buildings on the property?
If you have boathouses, sheds or other detached buildings on your cottage property, let us know and we’ll make sure they’re covered under your policy.
Common claims for cottage insurance
When deciding what type of coverage you might need for your seasonal home or cottage, it’s helpful to know which type of claims are most common. Here’s a list:
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 burst 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
Is cottage insurance cheaper than home insurance?
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.
Does cottage insurance cover my cottage if I rent it out?
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 Mitch 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.
Do I get a discount for insuring my cottage with my home?
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 Mitch for a cottage insurance quote, your Mitch 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.
How often do I need to update my coverage limits?
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.
What can I do to keep my cottage insurance rates down?
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.
As a brokerage for over 70 of Canada’s top insurers, we have access to a wide range of insurance solutions at some of the best rates in Ontario. Want to learn more about the coverage options available to you? Here’s a few of them.
