Just like you, all insurance policies are unique. Although this information can help you navigate your insurance questions, this is not insurance advice and some details may not pertain to your specific risk. If you have a question about your insurance policy or coverage, never hesitate to give us a call.
Seasonal Insurance
Whether you own a cottage nestled in the wilderness or a secondary home in a bustling city, having the right insurance coverage not only ensures your investment is protected year-round but also provides peace of mind. Collaborating with an experienced insurance broker can streamline the process and secure the coverage you need!
Seasonal properties, like cottages or vacation homes, have unique insurance requirements. These properties often sit vacant for extended periods, increasing the risk of vandalism or damage from unforeseen circumstances.
Secondary properties include homes not primarily occupied by the owner, such as rental properties or second homes in different cities. Each property type has distinct insurance needs based on occupancy and usage patterns.
For these properties, many insurance companies have requirements that need to be met before agreeing to insure them. Some of the most frequently asked questions by insurance companies are:
- How often do you visit/ maintain the property?
- How far away is your primary residence from the seasonal/ secondary property?
- How long is the property left vacant?
- Do you rent any part of the residence?
- If you do rent it, do you list it on short term rental sites like VRBO or AirBnB?
- Do you have lease agreements with your tenants?
- Do you require that tenants/ visitors have their own insurance?
- Do you rent it to students? Do you rent it to more than 2 unrelated individuals?
- Are there any security measures installed (camera, alarms etc.) that are installed?
While the above list is not exhaustive, it does give you some insight on the questions that may be asked of you when you call or email in for a quote.
When it comes to securing insurance for seasonal or secondary properties, partnering with an insurance broker offers distinct advantages:
Expert Guidance: Our knowledgeable brokers will provide expert advice tailored to your property’s unique needs and risks.
Market Access: We have access to multiple insurance providers, ensuring you get competitive rates and comprehensive coverage.
Personalized Service: Our brokers will guide you through policy options and claims processes.
Advocacy: In the event of a claim, our brokers will act as your advocate, ensuring fair and prompt settlements.
Protecting your seasonal or secondary property in Ontario requires careful consideration of insurance options tailored to your specific needs. Whether it’s safeguarding your cottage against winter storms or insuring a rental property in a bustling urban area, having the right coverage is essential. Ensure your property is protected, so you can enjoy it worry-free throughout the year.
At Cassidy & Young, our team of experienced brokers is dedicated to helping you find the best insurance solutions for your properties.