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Vacation Home & Cottage Insurance

More and more Canadians are buying cottages and villas as a source of stay, especially after COVID-19 forced people to rethink their vacation.

However, like other types of real estate, villas and cottages require insurance.

These second houses are equally vulnerable to theft, vandalism, damage, etc., so it’s important to have policies that protect your most valuable property.

What are villas and cottage insurance?

Vacation home and cottage insurance is similar to traditional home insurance, but is specific to properties that are not considered primary residence.

Not only does the insurance policy financially protect you from unforeseen events, your lender may request insurance before approving your mortgage application.

Vacation Home and Cottage Insurance Coverage

Vacation home insurance covers many of the same traditional home insurance, including:

Properties and contents

If the villa or the content within it is lost, stolen, damaged or destroyed due to certain factors, the properties and content portion of the policy will cover you. Damage as a result of events such as fires, falling objects, and vandalism are usually covered.

Liability insurance

You may be liable if someone injures your property or damages their belongings. If so, the liability portion of your insurance policy will provide you with compensation. For example, if a guest in your cottage falls off the stairs or slips on ice and is injured, your insurance will cover you against potential proceedings up to a certain amount.

What is not covered by vacation home insurance and cottage insurance?

Not all are subject to policy. Damage from fire or vandalism may be observed, but other events may not be observed. It must be specifically specified in the contract to ensure that a particular risk is covered under your policy. In other words, if the risk is not listed on your insurance policy, you will not be compensated.

This is different from traditional home insurance policies for primary homes that cover “all dangers”.

Below are some examples of risks not covered by common vacation home insurance.

  • damage
  • Sewer backup
  • flood
  • Burst pipe
  • Intentional act or negligence
  • pest
  • Earthquakes and landslides
  • fencing
  • Outdoor greenery such as trees, shrubs and bushes
  • Gardening equipment

Do you need vacation home insurance if you rent it?

If you choose to rent a villa, the type of insurance policy you take depends on how often you rent it.

Lending regularly

If the villa is used as a rental property on a regular basis, additional coverage may be required to ensure adequate coverage.More specifically, you are short-term renting or Landlord insurance policy If the villa is rented out on a regular basis.

Short-term rental insurance protects real estate owners who rent a villa on a regular basis. The coverage of these homes usually adds to existing home insurance and provides protection against damage, theft, vandalism, etc. of the home.

A landlord’s insurance policy is an independent insurance policy that protects real estate owners who rent a villa on a regular basis, either short-term or long-term.

Occasionally borrow

Many Canadians who have a villa may want to rent the property when they are not using it as a way to cover their mortgage payments. If you have a temporary lessee, a standard insurance policy may be sufficient. However, be sure to follow certain guidelines on how to rent a house.

In many cases, specialized insurance policies may be required to provide adequate coverage.


A villa is a great asset to have for many reasons. Not only can you use it for your own personal use whenever you need a vacation, you can also use it as an investment. Anyway, some form of insurance is needed to protect this valuable asset, so there is no huge financial burden in the event of an unexpected event.

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Vacation Home & Cottage Insurance

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