The demand for cottage rentals has skyrocketed over the last 2 years (thanks, COVID!). Renting out your seasonal dwelling can bring in big bucks, but not without its own set of risks.

From Economical Insurance, some insurance companies will allow you to rent your cottage for a certain number of days or weeks without a dedicated policy, while other companies will cancel your policy altogether if they find out that you are renting your cottage without specific coverage to do so.

Your insurance broker will need to know:

  • Are you renting your cottage on weekends or during the week?
  • How often are you renting your seasonal dwelling?

When you have guests and/ or renters on your property, your risk of someone getting injured goes up. When you rent your seasonal dwelling, liability insurance is a concern.  

Imagine that your renters are enjoying your beautiful water-front property when one of them trips and falls down a rocky ledge and is severely injured. Who will be held responsible? Quite simply, the owner of the property is held responsible.

According to Money Sense, insurance companies will place an emphasis on liability coverage when looking at the type of insurance that you need when renting your seasonal dwelling. In short, liability insurance protects you in the event that someone is injured while on your property.

It is always better to be safe than sorry and your insurance broker can help! Prepare for the unexpected by asking your insurance broker the type of coverage you need if you are planning to rent your seasonal dwelling for the upcoming summer months.

Roughley’s team of insurance professionals is standing by to answer your call. If you have questions about your insurance, we invite you to call us and speak to one of our team members.

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We are available Monday to Friday, 9am until 4:30pm.

Oshawa Location
Phone: 905.576.7770 • Toll Free: 1.888.558.0883
Fax: 905.576.3610

Bowmanville Location
Phone: 905.697.4257 • Toll Free: 1.888.558.0883
Fax: 289.316.3662