By nature, holiday homes are vacant for many months in a year. This leaves them at a greater risk of damage. Generally, a home is defined as unoccupied if it hasn’t been occupied for over 40 consecutive days. If you have a Home Insurance Calgary, it is important to ensure that the policy has the correct occupancy noted. Inform your broker or your insurer so that they confirm you have the right cover to protect your home in the event of a claim.
Why You Need Insurance for your Holiday Homes All Year Round?
One of the biggest threats for holiday homes is burglary as the lack of permanent presence attracts prospective thieves. When owners don’t insure their properties with the right cover, they are adding to the risks associated with their holiday homes. Even if your home is not furnished, thieves can steal other items like copper pipes, doors or lighting fixtures. Unoccupied homes are also susceptible to vandals who can destroy your property for various reasons. Another threat to holiday homes is of weather damage. As there is no one at the property to prepare for a storm or flood, or to clear rain gutters, damage can get out of hand and lead to devastating effects. It can take a long time to notice these damages, causing it to worsen before repairs are undertaken.
What can you do to Protect Your Holiday Home?
The most important thing to do is to talk to your insurance provider. Whether you’re in the market to compare policies, want to renew your current policy or buying a policy for the first time; you should know what’s required as a policyholder. You should be aware of how many times you need to visit the property in a month, are there any particular winter requirements that you must fulfil, what are the minimum security requirements as per your policy, etc. Also, talk to your provider to ensure that you have a comprehensive home insurance Calgary that protects your home contents to safeguard your belongings too. Many policies only offer protection for the building’s structure in case of holiday homes.
How to Ensure Better Rates?
By taking some preventive measures, you can protect your property and get better rates on your insurance policy. Set up a comprehensive security alert system that can notify you and someone in the vicinity who can take immediate action in case of a property breach. You can also place warning stickers in the windows as a deterrent measure. Try to arrange for regular maintenance of your property to prevent the weather from causing damage to your investment. You can hire a property management company or request a neighbour to visit your home on a weekly basis so that damages are noticed before they get out of hand. Simple maintenance like cutting the lawn, clearing the gutters, etc. can be easily taken care of by doing this and it can reduce your premium rates too!
If you have notified your insurer that you’ll be taking these measures and fail to do so, your policy can get invalidated. The best way to reduce risks at your holiday home is to ensure a comprehensive cover, take the right safety measures and buy the ideal home insurance Calgary policy that matches your needs.
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