Roadtrip To The Cottage On Your Mind?

Imagine, you wake up to the sound of birds singing, you can feel the fresh crisp summer air through your bedroom window and you are about to make your favourite cup of coffee and enjoy it on your dock with the morning paper.Ahhhh! Cottage life…Cottage insurance isn’t mandatory in Ontario, but it definitely is something to consider depending on how you use your cottage. Do you like to use it as a summer vacation? Do you make regular weekend visits all year-round ? Perhaps you rent out your cottage through the year?Below are a few pointers on what could affect your cottage insurance premium:1. How often someone is on the property. If your cottage is vacant for most of the year and a pipe bursts due to freezing temperatures and thaws in the spring, this can cause a lot of damage until discovered.2. The value of the dwelling itself. Similar to the value of your primary home, cottage insurance premiums are reflections of the value of the home (and property).3. The value of the belongings within. Fixtures, furnishing, cabinets, fabrics all contribute to overall value and should be reflected in your cottage insurance policy. For your records, it’s always a good idea to create an inventory of the items inside your cottage. In case of unforeseen circumstances it is always helpful for your insurance provider to have receipts proving ownership and value of damaged items.4. The location of the cottage and condition of surrounding forest. Because certain areas are more prone to flooding, and windstorms, the risk may be greater. If your cottage is located near to a tree line, there is a greater risk of a tree falling, causing damage.Understanding your options is the first step to ensure you have a fun and safe cottage season without any unfavourably interruptions.Happy Cottaging!