May 4, 2017
Some Cottages are seasonal while others are year round. Some with plumbing and others without. Every cottage is unique. How do you know if you you have the right cottage insurance?
If you have a cottage or are thinking of purchasing a cottage, consider the following details:
The type of insurance offered
Comprehensive insurance offers very different coverage than Broad Form or Named Perils insurance. It is important to work with an insurance company that offer different options, and be certain you understand them.
The value of your cottage
Does your policy reflect the current cost of your cottage? Does your policy reflect upgrades you have made, or the increased value of the cottage?
Are you insured against damage to your bunkies, outbuildings, decks, docks and boats? Have you added or renovated any of these?
Renting your cottage
Is your coverage limited? Most insurance companies provide rental coverage for four to six weeks a year, while some not provide rental coverage at all. Check with us here at Rice Inc. to see how we can help you.
Is your cottage in your personal name? Did you want to keep it your cottage in the family? Have you put it into an LLC, family trust or corporation? Can your insurance provider adequately cover this?
Is your cottage on rented or leased land? This can be a problem for some insurance providers, at Rice Inc., there are no such limitations.
A review of your cottage insurance policy could mean a difference of thousands of dollars should your cottage or other structures be under insured when an insurance loss occurs.
We at Rice Inc. are happy to do these evaluations on a no-cost basis. We do cottages everyday and take the time to explain things a little better. Our experience with cottages is what sets us apart!
Contact us now for more information and a free no obligation cottage quote to make sure you have the right cottage insurance coverage.