Are You Finally Off to the Cottage?
Now that Covid restrictions are being relaxed, and hot, summer weather is here, people are moving about more, with many heading to their cottage for short or extended stays.
If you are a cottage owner, here are some points to consider:
- Contents that normally stay at the cottage, need to be insured on the policy which covers the cottage itself. If your cottage does not qualify for a “package policy” as a seasonal, secondary residence, it is up to you to determine the coverage limit for your contents.
- Contents you take with you to your cottage which are normally kept or used at your primary principal residence, are considered “temporarily removed” from your home, and are actually insured under that policy. If you return home and inadvertently leave these contents behind at the cottage, should they be damaged or destroyed by an insured peril, they may not be covered under your cottage policy.
- Depending on your policy wording, coverage on your cottage and contents may be more restrictive or limited than on your principal residence.
Since there are many variables, a policy review with your broker is recommended, to avoid any unexpected surprises.