Guide to Holiday Home Insurance Canada
Building & Contents insurance is available for holiday homes and second
properties located within Canada. Usually a fairly broad range of perils
is available and full details of the actual construction of the property will be
required prior to an official insurance quotation being provided. It is only
recently that Brits have started to turn their attention to Canada as a place to
invest in a second or Holiday Home. Mention Canada to anyone and straight away
they will think of the great outdoors, in fact Canada is second only to Russia
in terms of land size and is renowned for its sheer natural beauty. The vast
majority of the population ( 30 million ) live in the south and thus these
leaves vast expanses of land that are sparsely populated and can often take
several weeks to cross. This wilderness country is proving extremely popularly
with stressed out Brits and nearly 1 million people a year are travelling to
Canada as a holiday and many like it so much they decide to buy a second home.
Canada is a country of great contrasts, from temperate in the South to artic and
sub artic in the North. There is a never ending supply of lakes rivers mountains
and wildlife. There are some breathtaking regions to visit, including Ontario,
Quebec, Prince Edward Island, Nova Scotia, the Northwest Territories and many
more. Canada is well known for its outdoor activities and in recent years a
number of its ski resorts ( which had been quietly fashionable for quite a
while) have been attracting overseas investors, the season often lasts from
November to June so the possibility of obtaining a good rental income is high.
Because of the high Airfare costs, Canada ski resorts have remained a secret,
many believe them to be superior to those available in Europe and many people
are now discovering them for the first time.
A number of factors are helping to open up the holiday home market in Canada.
Firstly, airfares between Britain and Canada are at an all time low and this has
made transportation between the two counties to be reasonably attractive.
Secondly, property prices are still quite low especially in the winter ski
resorts where most of the British interest is focussed. Housing price growth is
expected to soar in Canada and the emerging buy to let and holiday home market
is helping to keep prices strong.
The Eastern resorts are proving the most popular at the present moment.
Newfoundland, Prince Edward Island, Nova Scotia and New Brunswick all have
health property markets On many occasions a second or holiday home is purchased
with a view to obtaining an income when the property is not in use by the owner.
Like most countries Canada does how regulations relating to the renting of
property and to this end and because of the distances involved many people find
that appointing a local agent can be of great assistance. if you appoint a
property manager to look after your property, they will be able to investigate
and make sure your property adheres to all local regulations and/or legislation
including zoning, necessary permits, licenses, occupancy taxes, and safety
compliance. If it is not you intention to appoint a local representative, you
will need to do research and make sure that your property is compliant will all
local laws before you actually rent it out. If you are seeking Canadian
holiday home insurance please give us a call.
So if you are seeking an holiday home insurance quote for a property in cities
like Ottawa, Toronto, Vancouver or Montreal why not see if we can help.
In addition, Assetsure provide overseas property insurance and holiday home
insurance for other countries including Australia, Austria, Belgium,
Bulgaria, Brazil, Canada, Cape Verde, Chile, Croatia, Cyprus, Czech Republic,
Denmark, Estonia, Finland, France, Germany, Greece, Egypt, Hungary,
Iceland, Ireland, Italy, Latvia, Lithuania, Liechtenstein, Luxembourg, Malta,
Monaco, Montenegro, Morocco, Netherlands, New Zealand, Norway, Poland,
Portugal, Romania, Slovakia, Slovenia, South Africa, Spain, Sweden,
Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom (UK) and
Venezuela.
