Why Cottage Rentals Are in High Demand This Summer
Last summer, one of the most popular options was to rent a cottage – or if you were fortunate – to buy one. Anyone who had a cottage suddenly became much more popular with their friends or realized an opportunity to make some extra money by renting out their cottage.
The trend of going to the cottage, whether it’s your own or rented, continues this summer and cottage rentals continue to be in high demand. After all, who wouldn’t want to have a lovely, relaxing week (or more) away from the never-ending news cycle and the crowds? Nothing says relaxation more than lounging by the lake, sitting around a campfire on the beach and nights spent admiring the stars.
While it’s hard to know what COVID-19 restrictions will be like come summertime, everyone is optimistic that they’ll be able to get away to cottage country. These are the main reasons why cottage rentals are in high demand this summer:
- Fear of missing out
- People continue to work from home
- Limited options for travel
- We all need a vacation
If you own a cottage, it’s essential to check that you have the right cottage insurance. Whether you plan on primarily using it for yourself and your family or want to take advantage of the hot rental market, it’s important to make sure that you have the proper cottage insurance in place.
Fear of Missing Out
When COVID-19 struck last year, options for travelling were severely limited. Anyone who had a trip planned to Disneyworld, Paris, or even visiting family out West had to cancel or put their vacation plans on hold. So people tried to find alternate options – like renting a cottage locally. Unfortunately, demand definitely outstripped supply when it came to cottage rentals – meaning a lot of people are now concerned they may miss out again this summer.
Working From Home
As the pandemic drags on, many people continue to have the option of working from home. If that’s you, then you may be tired of looking at the same four walls, day after day. Even if you can’t take a lot of vacation time over the summer, maybe you could move your work from home “office” to a more scenic location, like a cottage.
Most people working from home can pretty much work anywhere there’s a good Internet connection and Wi-Fi. After all, where would you rather take a conference call – your living room or on a lakeside deck? So the option to work from anywhere is definitely driving the cottage rental market.
Limited Options for Travel
While it’s possible to travel by plane to various countries, there are still a lot of restrictions in place. And a road trip to the U.S. isn’t an option either, with the borders still closed.
In addition, the idea of being crammed into a busy place, like a famous landmark, a hotel shuttle or an airport isn’t very appealing. Why spend your time worrying about changing regulations and last-minute travel changes when you could simply relax on a beach somewhere?
A safe and relaxing vacation option is another reason that cottage rentals are in high demand this summer.
We All Need a Vacation
Everyone has found this past year incredibly stressful and draining, especially front-line and essential workers. Even those of us who are lucky enough to work from home still found the last year quite challenging.
That’s another reason cottage rentals are in high demand. People want something to look forward to and get away from home and work (which is sometimes the same place now). A cottage rental is a perfect option for anyone suffering from cabin fever who just wants to sit and relax.
How can Archway Insurance help me with cottage insurance?
If you have a cottage, reading this article may have made you think about renting your cottage out to make some extra money. If you’re interested in doing that, it’s crucial to find out what the local regulations are, as well as any COVID-19 cleaning protocols you’ll have to follow.
Plus, of course, there’s cottage insurance. Renting out your cottage is something you should definitely discuss with your insurance company to make sure you have the proper coverage. At Archway Insurance, we can discuss your current cottage insurance coverage and determine if you’ll need any additional coverage.
The three main types of cottage insurance are:
- Dwelling coverage – which covers your cottage itself, including sheds, garages and deck. It provides coverage for perils like fire, theft or vandalism.
- Personal property coverage – for everything inside your cottage, like your furniture and appliances.
- Liability coverage – this is especially important if you rent your cottage out. It will protect you if anyone is injured at your cottage.
You’re Ready For Summer
Who doesn’t look forward to spending lazy days by the lake, relaxing with their family and friends? Not everyone owns a cottage though, which is why cottage rentals are such a hot ticket this summer.
Whether you plan on renting your cottage out or just keeping it for personal use, it’s vital that you have the right cottage insurance in place. At Archway Insurance, we’re here to make sure you have the appropriate cottage insurance – for anything from a cabin by the lake to a beach house on the coast.
We’re Here For You
At Archway Insurance, we’ll work with major insurance providers to make sure that we get you essential coverage at an affordable price. You can contact our team for all your insurance needs in New Brunswick, Nova Scotia, and P.E.I.
If you would like to know more about cottage insurance, call Archway Insurance at 1-833-536-0529 or contact us here.