It is often considered the Canadian dream to own a property in a remote part of the province, far away from the prying eyes of neighbours. Whether it’s a rustic cabin in the woods or a hunting lodge, finding solitude doesn’t require a hefty price tag — but without seasonal property insurance, your slice of paradise could become your liability.
Seasonal property insurance protects you from the risks associated with repairs or replacements to a property you only use for part of the year. While the value of your cabin may be low, the associated costs with bringing in supplies and materials to rebuild a damaged property could exceed the purchase price.
Seasonal property insurance premiums can fluctuate depending on the property location (distance from a fire hall, for example), the type of heating used (gas, propane, electric, or woodstove), and whether you choose to opt-in for a payout in the event of total loss. Compensation can be structured for total replacement (to rebuild the cottage as it stood before) or for cash value of the property before destruction.
At Jamieson-Hilts Insurance Brokers Ltd., we know the risks of not carrying seasonal property insurance can be severe. That’s why we advise all of our Woodstock, Ontario clients to think critically about their financial future and provide protection options they can appreciate. Don’t risk it – give us a call today to get a quote to protect your financial future.