Most New Year’s resolutions are abandoned by the second week of February. This is one resolution that will protect you, your family, and your assets for the entire year—and it only takes a conversation.
As the holiday decorations come down and the deep winter sets in across Orillia, Midland, and Muskoka, our thoughts naturally turn to the year ahead. We make promises to ourselves: to eat better, to exercise more, or to finally tackle that renovation project. But among the gym memberships and diet plans, there is a critical aspect of your financial health that often goes overlooked: your insurance portfolio.
Many people treat their insurance policy as a “set it and forget it” document, buried in a filing cabinet or a digital folder, only to be thought of when a bill arrives or, worse, when disaster strikes. However, your life is not static. Over the last 12 months, your world has likely changed in small or significant ways. You may have purchased expensive new electronics, renovated your kitchen, changed jobs, or watched your children grow into teenagers.
At McLean & Dickey, we believe that your insurance coverage should evolve as your life does. We are your neighbours, and we know that the “Sunshine City” and its surrounding cottage country see a lot of changes in a year. A policy that was perfect for you in January 2025 might leave you exposed in 2026. This New Year, we invite you to make a resolution that yields immediate peace of mind: a comprehensive insurance review.
1. Home and Property: Did Your Castle Grow?
For many homeowners in our region, the home is their largest asset. Yet, it is also the asset most prone to being underinsured due to “creep”—the slow accumulation of value that isn’t reflected in your policy limits.
Renovations and Upgrades
Did you finish your basement this year? Perhaps you upgraded your kitchen with quartz countertops and professional-grade appliances, or maybe you finally built that detached garage or bunkie for guests.
If you have made capital improvements to your home, its replacement cost—the amount it would cost to rebuild your home from scratch at today’s prices—has likely increased. If your policy still reflects the “standard builder grade” kitchen you had five years ago, but you now have a custom chef’s kitchen, you could be facing a significant gap in coverage in the event of a total loss.
Inflation and Building Costs
Even if you haven’t hammered a single nail, the cost to rebuild your home has risen.
According to a 2025 study by MyChoice Financial, home insurance rates in Ontario have risen by approximately 7.15% this year alone, driven by climate-related disasters and inflation. Furthermore, updated construction cost reports for 2025 anticipate that replacement cost valuations for properties will increase by 1–9% depending on the asset type.
If your policy limits haven’t been adjusted to match these rising local construction costs, you might not have enough coverage to rebuild your home to its original standard. At McLean & Dickey, we can help run a new evaluation to ensure your limits match current realities.
New Valuables and Inventory
The holidays often bring an influx of new items into the home.
- Jewelry: An engagement ring or a luxury watch often exceeds the standard limits for jewelry on a typical homeowner’s policy. These items usually require a “rider” or “floater” to be fully insured for their appraised value.
- Electronics: New gaming setups, home theatre systems, and high-end laptops add up quickly.
- Collectibles: Did you inherit antiques or start a new collection?
ACTION ITEM: Walk through your house with your smartphone and take a video inventory of each room. Open drawers and closets. This simple 10-minute task can be invaluable if you ever need to file a claim.
2. Auto and Recreational Vehicles: How You Move Matters
Your driving habits are a major factor in how your auto insurance premiums are calculated. As we enter a new year, it is vital to ensure your provider has the most up-to-date information.
Commuting Changes
Are you heading back to the office in Barrie or Toronto five days a week? Or has your employer shifted you to a permanent remote work model?
If your vehicle is sitting in the driveway more often than it is on Highway 11, you might be rated for a commute you are no longer making. Updating your annual mileage to reflect a “pleasure use” or low-mileage status could result in premium savings.
New Drivers
Has your teenager obtained their G1 or G2 license? While adding a young driver can increase premiums, failing to list them can lead to a denied claim if they are involved in an accident while driving your vehicle. We can also help identify “good student” discounts or driver training credits that can help mitigate the cost.
The "Toys" of Muskoka
Living where we do, recreational vehicles are a way of life.
- Snowmobiles: With winter in full swing, ensure your sled’s coverage is active, and liability limits are sufficient for the trails.
- ATVs and Side-by-Sides: If you purchased a new machine in the fall, confirm it is listed on your policy.
- Classic Cars: If you have a summer cruiser stored away in the garage, check that your storage coverage is adequate to protect it from fire, theft, or a collapsed roof during the winter.
3. The Cottage: Your Home Away from Home
Cottage insurance in Muskoka and Orillia requires specific attention, especially regarding occupancy and usage.
Rental Income and Airbnb
Did you dip your toes into the short-term rental market this year? Renting out your cottage on platforms like Airbnb or VRBO changes your risk profile significantly. A standard seasonal homeowner’s policy generally does not cover commercial rental activities. If a renter slips on your dock or accidentally causes a fire, you could be personally liable, and your policy could be voided if you haven’t disclosed the rental usage.
We can help you find specific coverage that protects you as a host while keeping your property secure.
Winterizing and Vacancy
If you are closing the cottage for the winter, review your policy’s requirements for checking the property. Many policies require a responsible person to check the home every 24 to 72 hours to maintain coverage for water damage and freezing pipes. If you cannot get there, you may need to hire a property management service or install smart monitoring systems to satisfy these conditions.
Detached Structures
Boathouses, docks, and bunkies are vulnerable to ice damage and heavy snow loads. Ensure specifically that these structures are listed on your policy and that you understand the coverage limits for “weight of ice and snow.”
4. Business Insurance: Protecting Your Livelihood
For our B2B clients and local business owners, the New Year is the start of a new fiscal chapter. Your insurance should match your growth projections.
Cyber Liability: The Growing Threat
One of the most critical updates for any business in 2026 is Cyber Insurance. The threat landscape is evolving rapidly, and small businesses are increasingly in the crosshairs.
The 2025 “Microsoft Digital Defense Report” reveals that extortion and ransomware now drive over 52% of all cyberattacks, with attackers focusing heavily on smaller organizations that may have weaker defences.
Furthermore, identity-based attacks have surged by 32% in the first half of 2025 alone, with the vast majority being simple password attacks. A robust cyber liability policy can cover the costs of data recovery, legal fees, and notification costs if your business falls victim to a breach.
Revenue and Payroll Changes
Commercial General Liability (CGL) often uses revenue and payroll figures as a rating basis.
- Growth: If your revenue doubled last year, congratulations! However, this means your liability exposure has likely increased as well.
- Staffing: If you have hired more employees or expanded into new operations (e.g., a restaurant starting a delivery service), your coverage needs to expand to match.
Equipment and Inventory
Did you invest in new heavy machinery, high-tech office equipment, or a fleet of vehicles? Ensure these assets are added to your property or fleet schedule immediately. Inflation affects business assets too; the cost to replace your specialized tools or inventory has likely risen, and your policy limits should reflect that.
5. Unlocking Savings: The Power of the Review
A policy review isn’t just about finding gaps; it’s also about finding savings. At McLean & Dickey, we want to ensure you are getting the best value.
- Bundling: Are your home and auto policies with the same carrier? Bundling can save you up to 15-20%.
- Credit Score: In Ontario, having a good credit score can positively influence your premiums with many insurers. If your credit has improved significantly in the last year, let us know.
- Telematics: Many insurers now offer usage-based insurance (UBI) programs that track your driving habits via an app. Safe drivers can see substantial discounts on their renewal.
Alarms and Security: Did you install a monitored burglar alarm or a water leak detection system? These upgrades often qualify for discounts on your home insurance.
We Are Here to Help
The start of a new year is filled with optimism. Don’t let the worry of “what if” cloud your 2026. By taking the time to review your insurance now, you are building a safety net that allows you to live your life with confidence.
As Orillia’s only locally independently owned and operated insurance brokerage, we are uniquely positioned to understand the specific risks and opportunities of living in this beautiful region. We work for you, not the insurance companies.
Schedule a comprehensive “New Year, New View” policy review to ensure every aspect of your life—from your renovations to your snowmobiles—is properly protected.