Whether you are spending time this summer relaxing at your lakeside cottage or staying at a seasonal trailer park, the goal is to enjoy time away with family and friends.
Summer is easier to enjoy when your seasonal cottage, cabin, recreational vehicle (RV) or trailer is insured and protected against unexpected risks such as severe weather, fire or theft.
Because insurance coverage can vary by property type and use, it is important to understand the basics before the season begins.
Seasonal/vacation property insurance
Seasonal property insurance is for properties that are used for part of the year, such as cottages, cabins, trailers and some RVs. Because these properties may sit unoccupied for long periods of time and are often far from emergency services, they can present higher risks than a primary home.
You may add a vacation property to your home insurance policy or insure it separately. Tell your insurance representative how often the property is used and whether you rent it out.
What coverage may include
Coverage may include the building, detached structures, contents and liability protection. Depending on the policy, coverage is often limited to named perils such as fire, wind, smoke, explosion and some sudden accidental damage. Comprehensive protection may not be available.
Optional coverage may be available for sewer backup, certain water losses, watercraft, recreational equipment and short-term rentals.
Common exclusions and limitations
Coverage may be more limited when a property is left unoccupied for long periods of time. Frozen pipes, poor maintenance, wear and tear, pests, theft, vandalism and losses outside the named perils may not be covered.
For that reason, insurers often expect owners to inspect, maintain and winterize the property when it is not in use.
What affects the cost of coverage
The property’s location, distance from emergency services, road access, construction type, age and condition, and heating system often affect the cost of insurance premiums.
Insurers may also consider occupancy, security, maintenance, winterization, claims history and deductible choice when setting a premium.
Reducing risk at a seasonal property
Doing regular inspections, winterizing pipes and utilities, clearing debris and installing alarms or security systems can help reduce risk of damage at a seasonal property.
If damage does occur, keeping photos, receipts and records of your property and its contents can also make submitting a claim easier.
Choosing the right policy
Seasonal property insurance can offer valuable protection, but owners should review what is covered, what is excluded, and optional coverage they may need.
The right insurance policy depends on how the property is used, whether you have guests or renters staying there, and whether related assets such as boats, docks or sheds also need protection.
When choosing coverage, compare limits, deductibles, endorsements and exclusions, not just price.
Having confidence that you have the right protection will remove any worries and ensure you can focus on what’s most important – making summertime memories.
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