Vacation Property Insurance Ontario

Vacation Property Insurance Ontario

A whimsical cottage. A sandy beach house. A cozy cabin. There’s nothing quite like a vacation getaway. People often choose to rent a place for a short stay, but more and more are opting to purchase their dream vacation property so that they can visit it any time they want. Ontario is no exception. In fact, it’s not just Canadians but people from all different parts of the world who have purchased vacation properties in Ontario thanks to its many popular destinations and beautiful landscape.

Full of unique attractions and landscapes, Ontario has so much to offer as a vacation destination. If you have purchased a vacation property in Ontario, you first need to shop around for vacation property insurance. You will want to make sure your brand-new property is insured against financial loss and liability.

For over 50 years, the team at R&R Plan Cottage Insurance has been helping cottage owners protect their vacation properties. We offer the best cottage insurance policies in Ontario thanks to our team of insurance specialists. We do this by providing comprehensive insurance policies that we customize to meet the individual requirements of all vacation property owners. At R&R Plan Cottage Insurance, we design our unique policies to protect your property all year long.

Our expert insurance specialists at R&R Plan work directly with our clients to customize the exact type of protection they need. We acknowledge that each vacation property owner is different and therefore requires a unique policy that reflects exactly that. With a vast understanding of the vacation property insurance market, our industry-leading insurance experts are ready to assist you in finding the best rates at the best price. Rest assured that we will find the perfect insurance plan for vacation property owners in Ontario.

R&R Plan is the only online cottage insurance quote provider in Ontario. Our goal is to make insurance a simple, fast, and convenient process for all cottage owners in Ontario.



What is vacation property insurance?

If you own a secondary property that you occasionally visit throughout the year, such as a cottage or a boathouse, then you likely own a vacation property. And just like with your primary home, your vacation property also needs insurance. This insurance, however, is separate from your homeowner’s insurance. 

Vacation property insurance protects your vacation home, any additional buildings or structures on the property (such as a boat house, shed, deck, hot tub, etc.), and the contents within these buildings. It safeguards them from insured risks such as vandalism, theft, fire, weather damage, and even damage from wild animals. It also protects you financially in the event that you cause damage to someone else’s property, or someone injures themselves while on your property.

In order to qualify as a vacation property, it must be a second home that you only occupy for part of the year, such as on weekends or for a few weeks at a time. Below are some examples of secondary properties:

  • Cottage
  • Lakehouse
  • Beach house
  • Cabin
  • Hunting shack
How does vacation property insurance work in Ontario?

A vacation property insurance plan will protect the property owner from legal liability if a visiting guest injures themselves. For example, if a guest happened to step off of your uneven patio and fall, seriously injuring themselves, you could find yourself facing a civil suit. However, your comprehensive vacation property insurance policy would protect you as per the terms of your conditions. The insurance policy will also cover any damages to your vacation home as well as any third-party damages you may cause.

Also, you should ask your insurance provider if your policy includes restoration expenses or upgrading costs. Upgrades to ensure your summer house meets safety and permit codes are costly. If you lost your vacation home and needed it replaced, make sure you get back any amount you put into restoration or upgrades.

Our R&R Plan Cottage Insurance team is ready to help answer any questions regarding vacation property insurance. When you partner with us, we work directly with you to assemble an insurance plan that is as unique as you are. Our expert insurance specialists are sure to exceed your expectations by instilling confidence and keeping you well-informed about your comprehensive insurance policy.

What kind of insurance do I require for a second home?

In general, vacation property insurance covers your vacation property and its contents. It also includes liability coverage for any third-party claims due to injury or damage to your property. 

Here is a summary of what our vacation property insurance plan offers:

Provides coverage against: 

  • Fire damage 
  • Storm damage 
  • Theft and vandalism 
  • Building collapse 
  • Damage from bears
  • Liability coverage available for up to $5,000,000 
  • Protection for an outbuilding, decks, and docks without any additional costs.

If you plan to rent out your vacation property when you’re not using it, you’ll want to get our short-term rental insurance, which provides coverage for up to six months. This will cover the following:

  • Personal liability protection should a third party injure themselves on your property 
  • Owner’s liability protection against loss or damage caused by your watercraft
  • Rental income protection against financial loss due to damage or insured peril  

Also, keep in mind when applying for vacation property insurance that the following is not typically offered in standard cottage insurance plans:

  • Septic backup and flooding 
  • Earthquakes 
  • Fuel oil release 
  • Damage or complete loss of motorized vehicles, campers, and trailers
  • Buildings used for farming or other business purposes 

To ensure you are fully protected from these forms of damages, don’t forget to talk to your insurance expert at R&R Plan Cottage Insurance about our additional coverage options.

    What is the difference between secondary home insurance and seasonal home insurance?

    A second home is just that: a second home. It’s a home you intend to temporarily occupy throughout the year, such as on weekends and holidays. It could even be a place to stay for out-of-town business. But it is not your primary residence. A secondary home is generally purchased purely for your and your family’s enjoyment. 

    On the other hand, seasonal homes are more about vacations and holidays. These homes are often located quite some distance from their primary residence. Also, people who own vacation homes frequently rent them out throughout the rest of the year when they’re not using them to produce additional income. If you know of any “snowbirds,” they probably have a seasonal home somewhere warm.

    Is homeowners insurance more expensive for a second home?

    Overall, vacation property insurance and primary residence insurance are similar. Both protect the home, your belongings and your assets. The one significant difference, however, is the rate. Vacation property insurance is generally higher than home insurance because vacation homes are at an increased risk for claims. 

    Here are a few factors that affect your insurance premiums:

    • How long your vacation home is vacant.
    • Where the vacation home is located.
    • If you plan to rent it out.

    More often than not, vacation properties will sit vacant for extended periods. As such, they are more vulnerable to break-ins, vandalism, and damage from a leak, fire, or even infestation, which can remain undetected for a while. If you own a waterfront property for your vacation home, you will likely incur higher rates as well as they are at an increased risk of damage from windstorms or even hurricanes. Also, for anyone who intends to rent out their vacation property to make some extra income on the side, you will need to buy additional insurance coverage for short-term rental use.

    What kind of coverage should I get for my vacation home?

    It all depends on how you intend to use your vacation property. First, you will need to purchase seasonal cottage insurance to protect your vacation home. Then, if you plan to rent it out during the months you won’t be using it, you will need to purchase short-term rental insurance to protect not only your home from loss, damage or liability but your renters, as well. Lastly, if you decide to use your vacation property as a secondary home instead, you will need to switch your seasonal insurance policy to a secondary insurance policy.

    Why is vacation property insurance so important?

    Any vacation property owner needs to purchase vacation property insurance because their vacation home presents many risks throughout the year. A comprehensive insurance policy will protect you and your home from legal liability for damages and associated expenses.

    In Ontario, vacation property insurance can protect vacation property owners against the following:

    • Property damage.
    • Injuries or death to third parties
    • Associated medical expenses
    • Vandalism and theft
    • Legal fees that may be incurred as a result of a lawsuit
    What is covered by vacation property insurance in Ontario?

    As mentioned before, primary home insurance and vacation property insurance have a lot of overlap. The main differences are because you only occupy it for brief parts of the year. 

    At R&R Plan Cottage Insurance, we are excited to offer first-rate insurance policies for cottage owners. Here is how our insurance specialists are prepared to assist all cottage owners in Ontario:

    Seasonal Cottage Insurance 

    This seasonal cottage insurance policy protects your secondary home against the following: 

    • Fire damage 
    • Storm damage 
    • Theft and vandalism 
    • Building collapse
    • Liability coverage available for up to $5,000,000 
    • Protection for an outbuilding, decks, and docks without any additional costs.


    Secondary Cottage Insurance 

    With our secondary cottage insurance policy, we offer year-round, guaranteed replacement costs while protecting your cottage and personal belongings against the following:

    • Fire damage 
    • Storm damage 
    • Theft and vandalism 
    • Damage from bears, raccoons, and squirrels
    • Liability coverage available for up to $5,000,000


    Rental Cottage Insurance 

    With the rental cottage insurance policy, you will have coverage that includes the following: 

    1. Personal liability protection in the event a third party injures themselves on your property 
    2. Owner’s liability protection against loss or damage caused by a watercraft (if “incidental” watercraft is included in your contract)
    3. Rental income protection against financial loss due to damage or insured perils

    This insurance plan will cover you for up to six months of the year.


    Builders Cottage Insurance 

    Start your cottage construction while protecting your structure against damage and liabilities. This coverage includes:

    • Protection of building materials both on and off-site 
    • Coverage during transportation and construction


    Additional Cottage Insurance 

    Additional coverage options for secondary homes include:


    • Protection from damage that results from squirrels, bears, raccoons, snow loads, freeze-ups, and short-term rental residents
    • Protection for outbuildings, decks, docks, and outdoor equipment without any extra fees added
    • Protection from damage that is caused by septic backup and flooding, earthquakes, fuel oil release
    • Coverage for damage or total loss of motorized vehicles, campers, or trailers
    • Coverage for buildings used for farming or other business operations
    What is not covered by vacation property insurance in Ontario?

    Before partnering with an insurance firm in Ontario, vacation property owners should be aware that some features are not included in standardized cottage insurance plans. These omissions include: 

    • Septic backup and flooding 
    • Earthquakes 
    • Fuel oil release 
    • Damage or complete loss of motorized vehicles, campers, trailers
    • Buildings used for farming or other business purposes 

    In order to protect your property from these insurable risks, or if you’re unsure of what type of coverage you need for your seasonal property, be sure to talk with your insurance advisor at R&R Plan Cottage Insurance about the available additional coverage options.

    Is vacation property insurance required in Toronto?

    It all depends on the provincial laws for where your vacation property resides. For Toronto, vacation property insurance is not mandatory, as Ontario does not require you by law to have house, condo or tenant insurance. Be that as it may, certain banks and lenders will require proof of insurance before they will advance a mortgage.

    And while it is true that vacation property insurance is not mandatory in Toronto, you should strongly consider having it. Many property owners often spend thousands of dollars on renovations or possessions for their vacation homes. If an unavoidable disaster strikes and the house needs replacing, having insurance will help you replace it and get back the cost of your renovations and belongings. You don’t want to risk losing everything!

    How can I get vacation property insurance in Ontario?

    You can quickly and easily purchase vacation property insurance in Ontario with us at R&R Plan Cottage Insurance. Get started today with a free insurance quote in minutes from our free online calculator! Our team of insurance experts is ready to help and answer any questions you have.

    Various elements can affect your insurance quote. Here are some variables you need to keep in mind before you start:

    1. How often will you use the property?
    2. Where is it located?
    3. Do you have road access all year round?
    4. When was your recreational property built?
    5. How will you maintain your cottage during the winter months?
    6. Do you have a boat that requires additional insurance?

    R&R Plan Cottage Insurance is Ontario’s only online cottage insurance quote provider. Our goal is to make insurance a simple, fast, and convenient process for all cottage owners in Ontario. Get your free quote today!

    In Ontario, when should I purchase vacation property insurance?

    There’s no time like the present! You should purchase vacation property insurance as soon as you purchase your property. You can even start shopping around for it beforehand. Some property owners may want to wait until later, closer to when they place to use the property, to save on insurance costs. But this can be a precarious decision. A strong storm could knock a tree over onto your roof, creating a hole that allows rainwater to get in. And let’s not forget that vacant properties are more susceptible to break-ins and vandals. By purchasing your insurance as soon as that deed is in your name, you can ensure that your new vacation home is protected from any unexpected events.

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