When choosing a vacation destination, most people want a change in scenery. For example, if you live in the mountains, maybe you head to the beach when you need to get away. On the other hand, if you live near the beach, you likely go to the mountains for a few weeks out of the year.
The Collingwood area is a major winter tourist destination in Ontario, but if you already live here, perhaps you want to get away for a while during the holidays. An exclusive new homeowners insurance program offered by Howard Noble Insurance and underwritten by Gore Mutual Insurance is a great benefit to home and condo owners in Collingwood.
This new homeowners insurance program is designed specifically for home and condo owners in Collingwood who want to rent their property to tourists while they travel during the winter. Many tourists love to stay in a real home, instead of a hotel or resort, while they visit the beautiful ski hills nearby. And for the homeowner, it’s a perfect way to make sure someone is keeping an eye on your house while you’re gone and make a little extra money while you’re at it. But of course, renting your property has its risks, as well—What if the tenant causes damage to your property?
Renting your property out can also bring about negative repercussions with a standard homeowners insurance policy. If you notify your homeowners insurance provider that you are planning to rent out your home for a few weeks or a few months, they will most likely reduce the coverage provided, hit you with a surcharge, or even cancel your policy altogether. But if you choose to rent out your property without notifying your homeowners insurance provider, it could lead to a claim being denied due to material change in risk or nondisclosure. It’s definitely not a risk you should take!
But don’t worry—with this new homeowners insurance program, you won’t have to be concerned about any of these problems. It provides a window of up to 6 months to rent out your property and maintain a comprehensive homeowners insurance policy, and it includes $25,000 in rental income and $5,000 for damage caused by tenants, $2,000,000 in personal liability, and more.
Contact us today at Noble Insurance to learn more or to request a quote for this exclusive homeowners insurance policy!