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Increase in cottage rentals begs questions about insurance implications


March 2, 2012   by Canadian Underwriter


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Renting a cottage is itself becoming a cottage industry.

The question is: what are the insurance implications of having unknown holiday weekenders descending on your summer property?

The Globe and Mail reports that the trend to rent out cottage properties for periods to the summer has become much more rationalized, with the appearance of several websites dedicated to holiday rentals. The Globe lists five such Web sites: Cottage Country Vacation Rentals, Cottage Country Travel Services, Cottage Portal, Cottage Connection and Ontario Cottage.

But before undertaking such a venture, cottage owners may need to be re-thinking their insurance coverage.

“Some seasonal property policies exclude damage caused by a renter,” the Globe quotes Anne Marie Thomas, a representative of InsuranceHotline.com, as saying. “Some insurance companies will allow a renter for a very short period of time (maybe a week). Some policies will cover renters with specific conditions.”

Thomas says cottage owners seeking to rent their property should contact an insurance agent before pursuing the option.


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