How Is The Property Used?
Insurers consider:
- how frequently a property is used
- how often it is occupied
- if it is rented.
Ideally, your recreational property can be listed on your home insurance as a secondary or seasonal location. You can also have property insurance as a separate, stand-alone policy.
Insuring Named Perils Only
Due to the risks associated with part-time occupation, recreational property insurance is generally provided on a named perils policy instead of a comprehensive or all risks policy.
Named perils policies cover specific risks such as fire, explosion or smoke damage. Coverage for certain risks, such as water damage or vandalism, may be more difficult or expensive to arrange, due to part-time occupancy. For example, if a water pipe bursts or if vandals break in while your property is vacant, damage is likely to be more severe because it could take longer for it to be discovered.
Common Exclusions
Common exclusions to secondary and seasonal home insurance policies include sewer backup and damage to, or loss of:
- fences
- food in a freezer
- garden equipment
- outdoor plants
- trees and shrubs.