The great Canadian outdoors | Where to get insurance for lodges
Canoeing. Hiking. Cross Country Skiing. Trail Rides. Fishing. Hunting. Rock Climbing. These are just some of the reasons why lodges enjoy a steady stream of travellers in every season. While the majority of Canadians live in cities and towns, the opportunity to step away from it all and enjoy the great outdoors has never been more popular.
As someone who owns, manages or caretakes for a resort property, we’ve prepared this overview of what you need know when you are looking to get insurance for lodges in Canada.
Lodge Insurance 101 – What info you need to provide to get covered
When an insurance company underwriter looks at your lodge operations, they want to understand the specific risks and unique exposures that your facility faces.
Here’s a sampling of some questions you can expect to be asked when getting insurance for a lodge in Canada:
- Where is the lodge located?
- How long has the lodge operated?
- Who is the caretaker for the lodge? How many years of experience does the caretaker have?
- How many employees – full-time and part-time – work at the lodge?
- Does the lodge manager/caretaker live on-site?
- Are employees of the lodge who live on-site covered by an existing tenants’ policy?
- What is the claims history of the lodge?
- Is the lodge open 365 days a year or seasonally?
- What specific recreational activities and programs are offered to lodge guests?
You can expect the insurance company will want to know how the lodge building(s) are constructed and when they were built. You will need to confirm the distance to the closest municipal fire hydrant as well as the type of fire department (paid full time, paid part time or volunteer) that supports your lodge. Information about all of the systems – sprinklers, alarms, video cameras, etc. – that monitor your property is also important to include.
Lodge Insurance – Three common types of coverage for vacation resort properties
Whether you want to insure a brand new lodge resort or renew lodge insurance, it is important to understand what the most relevant coverages are for your commercial property. Here are some insights about three popular coverage types:
Commercial General Liability. Also known as general liability or CGL, commercial general liability protects against liability claims for bodily injury and property damage related to your lodge premises, operations, products, completed operations as well as advertising and personal injury liability. This is the insurance that will respond if a vacationer slips, trips and falls while staying at your lodge.
Property Insurance. With property coverage, your lodge will be protected against losses due to fire or lightning, including the cost of removing property as a way to protect it from further damage. A standard property policy will provide coverage for extended perils, such as floods, windstorms, hail, earthquakes, acts of terrorism, explosion, riots, smoke, civil commotions and vehicles that damage your insured lodge. You can also secure specific vandalism and malicious mischief coverage – insurance that can be particularly helpful for seasonally operated lodges.
Crime Insurance. This common type of insurance is specifically designed to reimburse the loss of money, securities, or inventory resulting from crime. Employee-related and third-party theft can happen in an instant or over a period of months or years. Credit card fraud, expense fraud and funds transfer fraud are just three examples of common loss scenarios that crime insurance is designed to respond to.
Who’s booking lodges in Canada – Canadian travel insights
Four generations of Canadians are traveling right now and a recent Expedia MediaSolutions report looks at how these groups differ when they plan travel. According to the Expedia report:
Generation Z. “Travel 21 days a year, and although they have a budget in mind when planning a trip, they are the most open-minded when it comes to destination inspiration. They rely on search engines and online travel agencies (OTAs) for planning and booking. They prioritize activities and once in a lifetime experiences and rank highest in the #YOLO mindset and going places where they can explore the outdoors and be active.”1
Millennials. “Travel 26 days a year and prefer to explore international destinations, as they are most likely to travel beyond their borders. Tackling their bucket list, #YOLO experiences, and finding off the beaten path locations are important to Millennials, but they also look to fill their itinerary with museums, historical sites, and arts and culture more than other generations.”2
Generation X. “Travel 21 days a year, choose hotel stays more than any other generation, and are most likely to travel by car. More than 50 percent turn to OTAs for planning and booking, and they prioritize activities, deals and the lowest price when booking a trip.”3
Baby Boomers. “Travel the most (28 days a year) and nearly half have already decided on a destination when they decide to take a trip. They are more likely to take an international getaway than stay within their own borders and are also quite adventurous once they get to their destination. Boomers are less likely than other generations to stay with family or friends but are more likely to stay in a resort.”4
Across Canada | We can get your lodge insurance quote aligned
As you seek out the best options to insure your lodge operations, you may have some questions. At ALIGNED Insurance, we take pride in delivering a different kind of insurance experience to our business clients across Canada. We work hard to help people understand the options out there in the insurance marketplace.
On our website and through social media channels, we share insights about what’s trending in in the commercial insurance marketplace. We monitor new coverage options, trends, risks as well as new product offerings. People bookmark and reference our growing online insurance information library and work directly with ALIGNED brokers to better understand current and emerging commercial coverage options.