How much does cottage insurance cost?
Cottage insurance costs $800–$3,000 a year. Why the large range? Because cottages can range from palatial Muskoka estates to one-person huts on a hill somewhere. This is why cottage insurance is broken down into subcategories:
Secondary property (higher end)
- Inhabited by the owner or family members
- Occupied at minimum 14 days a year
- Winterized with year-round access
Seasonal property (lower end)
- Occupied by the owner or family members
- Only inhabited seasonally
- Inaccessible during the winter (usually due to unplowed roads)
- Not winterized
Whichever category your cottage fits into, you (and your cottage) will be covered similarly. But note that, unlike regular home insurance, cottage insurance covers basic property and liability. The rest are options specific to cottage insurance.
How is your cottage insurance premium calculated
As mentioned above, Ontarians usually pay around $800—$3,000 per year for cottage insurance. The price you’d pay will be informed by standard factors like location, size, occupancy, and value: that palatial Muskoka estate will cost more than the one-person hut on a hill somewhere.
Other factors will include road access, frequency of visits, proximity to emergency services and fire hydrants, and risk of water/fire damage.
Cottage insurance property coverage
This covers the dwelling and the surrounding area. It includes all the attached structures on your land, as well as permanent outdoor equipment (like swimming pools). If damage occurs in the case of something like fire, smoke, or water damage, your cottage insurance will provide the funds to cover the cost of repair.
Cottage insurance liability coverage
This protects you if an accident happens on your property.
If someone is injured on your property, you’ll be covered for most of the costs you’re held legally liable to pay.
If a claim is made against you, your coverage will help pay your legal fees and court expenses.
No-Fault Medical Payments
In the case of an accidental injury to another person, or if someone hurts themselves on your property, your policy will cover the medical expenses. This includes surgical, dental, hospital, nursing, ambulance service, and funeral expenses.