Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 2410 | 2016 lake StewardS newSletter Cottage Insurance tips by Ross Fraser, Cade Associates Insurance Brokers Every one of us knows that OUR cottage is unique! No two cottage policies will be exactly alike, but—for many reasons—cottage properties are very different from homes in the city, something both you and your insurance provider need to understand. The following are some important considerations to review, to ensure your cottage and family are properly protected. Coverages Not all cottage insurance policies are created equal. There is a wide range of options, from very limited coverage to very broad coverage.Whenapolicyprovides“AllRisk”(or“AllPerils”)coverage it is very broad, limited only by the specific exclusions within the wordings. By contrast, “Named Perils” coverage lists specifically those perils against which the policy provides protection. While they are inherently more limited, many “Named Perils”-based policies can certainly meet the needs of cottagers. In particular, look for policies that provide coverage from cottage-country perils (e.g. falling trees and other objects, vandalism and malicious acts, theft, building collapse, and damage caused by bears) in addition to more common perils like fire, lightning and smoke. Take time to read through your insurance policy to ensure you understand the coverages provided. liability Liability insurance responds to claims of bodily injury or property damage suffered by third parties, arising from your personal actions or the ownership and use of your property. Cottages, with their natural terrain and easy access to water, are more likely than urban homes to be linked to liability claims. Increased liability limits are available, often at minimal cost, and are encouraged for cottage property owners. Watercraft liability requires your attention, as cottage policies may offer limited or no protection for powered boats. Regardless of the value of the watercraft itself, it is critical that you ensure adequate liability insurance is in place to respond to any injury to a third party related to your watercraft. This protection will be part of most watercraft insurance policies, or may be available as an add- on to your cottage insurance policy. Whether or not you choose to insure your watercraft against physical loss, it is crucial to ensure that proper liability coverage is in place. www.cottagefirst.com Life at the cottage shouldn’t be stressful. CottageFirst Insurance was designed with this in mind. Exclusively available to members of FOCA, CottageFirst is your ‘one-stop’ insurance solution for Home, Cottage, Watercraft, Automobile and more. We work with you to create a customized, bundled insurance package, offering unique coverages & FOCA discounts for cottagers.