With the lazy days of summer just around the corner, Albertans are turning their thoughts of summer and the relief from the stress and strains of everyday life. If that means a cottage in Lake Louise, Jasper, Cypress Hills, Banff, Kananaskis Country and Rocky Mountain House, your getaway property deserves the same attention to details when it comes to insurance protection as your primary residence.
At Thomson Schindle Green Insurance & Financial Services Ltd, we’ve been proudly serving Southern Alberta residents as a full-service, independently-operated insurance brokerage and provide insurance policies through a selection of reliable and stable insurance companies since 1985. While it’s always a good idea to review all of your insurance policies on an annual basis, reviewing your cottage insurance each spring can add peace of mind to your summer fun.
Buying insurance for your cottage is very similar to buying home insurance. In fact, cottage or seasonal properties are most often listed as an add-on to your home insurance policy, and many companies will not consider offering you insurance for your cottage if you do not already have home insurance with them as well.
Coverage need to insure your cottage for the building’s structure, and your personal belongings that are stored within up to a certain dollar value. If you have expensive recreational vehicles or other equipment stored in your cottage, you can add extra insurance coverage for these items for an added premium or on a separate policy. Another important consideration is third party liability insurance. You should have insurance to cover personal injury to another person while on your property. Liability insurance protects you financially from the impact of a lawsuit.
There are different types of home and cottage insurance that you can buy from comprehensive for all perils other than those specifically excluded, basic coverage for specific perils, or a broad policy that is a combination of comprehensive and basic policies. The amount of insurance you need to buy is an individual matter, but as a rule, you should insure the structure of your cottage for the total amount that it would cost to rebuild it if it were to be completely damaged in a fire or similar calamity.
Buying Insurance in Alberta
If you have questions, or want a comprehensive review of your current policy, call the Thomson Schindle Green Insurance & Financial Services Ltd team of insurance brokers in Calgary, Medicine Hat, Brooks, and Bassano to assist you in preparing and planning for your financial future. Browse our website to learn more about our policies and services or call one of our professionals toll free at 1.800.830.9423 today. You deserve nothing less than a peaceful, relaxing, and stress free summer.