If you’re in the market for a lovely cottage in New Brunswick, you have many excellent selections in this part of Canada. A second home gives you somewhere to go when you need a retreat from the everyday world with all its hectic schedules and people in a hurry. However, it is very important for Shediac residents to have the right kind of cottage insurance. If not, your beautiful little getaway home could turn into a financial nightmare. This almost happened to Donna and Lester M in our example story.
Lester and Donna worked hard for many years but never could manage to save enough money for that cozy cottage in the woods they always dreamed of. However, one day Donna received an unexpected inheritance from a relative and the couple knew exactly what they were going to do with the money.
Donna and Lester found a lovely little place only about 65 kilometres from their home. It needed a lot of work, but they planned to retire in 10 years and this gave them the chance to fix the place up and make it their retirement home. In the meantime, they had someplace to go on the weekends.
They were able to pay cash for the cottage and didn’t want to spend much on cabin insurance until the place was fixed up. Lester called his insurance broken about getting a “bare bones” policy. However, the broker was experienced with this kind of insurance and told Lester he should consider options like vandalism insurance and replacement cost coverage to insure the investment the couple already made in the property. Lester and Donna thought about it for some time and finally agreed.
Four months later, Donna and Lester went to their cabin to work on some repairs and received a big shock. Someone had broker into their cottage and caused an enormous amount of damage. Had the couple went with “bare bones” seasonal home insurance, they would have no beautiful cottage today.
What is Cottage Insurance?
Insuring a cottage is not like your primary residence because you are not there a great deal of the time. You need insurance specifically designed for people in your situation and that is the concept behind this kind of coverage. Think of it as “special homeowner insurance”.
Who Should Take Out Camp Insurance?
Anyone owning a second home should consider insurance. It’s not just about log cabins or little cottages. In fact, any residence you plan to use for special times should have a seasonal insurance policy in place. This includes:
- Cabins and cottages
- Standard residential houses
- Rental units like apartments – you won’t need a standard homeowner policy but you will need to insure your home contents and take out liability protection in case someone is injured in your home.
What Does a Typical Seasonal Home Insurance Policy Provide?
Your cabin coverage should include all the things your primary home has. Remember your insurance premiums are dependent upon where the home is located and whether you decide to make it your main residence or not. Here are basic coverage options to consider:
- Liability insurance – includes injuries and dog bites to visitors
- Peril insurance – protects you from weather related issues
- Theft and burglary
- Vandalism like broken windows
Options for Your Cottage Insurance Policy
Your insurance broker can tell you if you qualify for a seasonal homeowner policy and this can save you on premiums. You also may wish to consider the following options:
- Outbuildings – do you have a workshop, shed, gazebo, dock, or other structure on your land? It should be insured.
- Recreational options – Swimming pools, tennis courts, expensive fencing or landscape features
- Increased liability insurance – you may need more than the usual liability limits especially if you have features like a swimming pool or trampoline.
- Replacement cost – this is an important option to consider. With a standard policy your insurance company may only pay you for the market value of your cabin should it be destroyed. However, the price to rebuild may be much more than the current value, due to inflation.
- Sewer backup coverage
Finding Just the Right Cabin Insurance
When you shop insurance for your cottage you may have to check with a lot of different companies and explore many different options. Plus, when you look closely at insurance policy language you could notice a lot of terms you may not be familiar with. This is one of the many reasons to go with an experience insurance professional like you will find at Vienneau Insurance.
Why Choose an Insurance Brokerage?
Many people naturally assume they have to go to an insurance broker who works for just one company and there are no other viable options. This is not the case because your independent insurance broker can do everything a “one company” agent can do and much more. Think of Vienneau Insurance as a “multi-company” brokerage because an insurance broker does business with many excellent insurers and is there to find you the most affordable coverage and all the options you need for your cabin.
At Vienneau Insurance, we live and work in cottage country, so we know what you need and are here to help you with coverage customized for you and your family.
Don’t take unnecessary risks with your beautiful cottage or home. Come to Vienneau Insurance today for a no risk seasonal home insurance quote.