Who will insure my ONTARIO home if I offer short-term rentals?

[Adrienne62]

I know that through Air BnB there is insurance for my renter and to protect me from rental damage, but my home insurance provider flat out *refused* to continue insuring my home if I operate an Air BnB. I've since called Cooperators, Allstate and President's Choice; all refused me insurance if I'm renting out a room on the short term. Rent to a student? No problem: add $50/yr to the insurance.

Aviva is getting me a quote but limits my rental days to 180. Beyond that, I need commercial insurance.

How are Ontarians handling this? I don't want to have a claim denied (if there's an accident having nothing to do with the rental) because I advertise on Air BnB.

[Adrienne62]

An insurance quote came it at DOUBLE. Still worth it, but holy ***. I keep saying “but ABB *comes with* $1 million insurance of its own!” So far, only Aviva will insure my house if I offer short-term rentals.

[Mary925]

Piece of mine.  I have to say since we monitor the unit more frequently vs long term why are we having to pay more for short term insurance 

[Janine3]

SONNET insures homes that do AirBnb.  I have just found them, I don't know if they are across Canada or where.  Their online experience, their customer service, their coverage & fees all seem GREAT! 

https://www.sonnet.ca/about-us

SquareOne insurance does too, but not if you offer your guests a scrap of food, so no breakfast fixings! 

I was told that HUB insurance also will cover, I haven't spoken to them. ]

You are welcome!!

janine

[Mary925]

My insurance brokers used Ches Insurance.  I have a permanent tenant upstairs and downstairs is the short term rental...

Took a while to locate insurance.     I know it's best to be honest with the insurance companies,  once they find out you lied, it raises a black flag.   I'm not taking a chance.  My premiums around the 2100.00

[Krystal16]

@Adrienne62

May I ask how much your insurance is?  I likely need to do this myself, I think there are so many people who don't have the proper insurance because well no one offers it.

[Mary925]

About 2300/year

[Lushana0]

We just added ours on to our existing RBC insurance. We were very surprised by how easy and reasonable it was, to the point of not being totally sure the person understood what we were saying in terms of a short term rental, lol. But they apparently even checked with their manager and approved us over the phone. 

[Mary925]

 I had to separate my residence from the Airbnb insurance policy.    It was not a problem since it was zoned commercial residence already

[Susan1289]

I just started air bnb'ing my dad's home that he has insured with TD for 35+ years. I guessed at a 1/3 occupancy and they wont do it. Calling Royal Bank today- have more leverage there. Apparently TD has no appetite for risk, but neither do I which is why we opted for short term rentals and eyes on the property. When I reponded to TD with, "So the house isn't insured now?" They said, " No it is..."  which is likely code for insured unless there is a claim. Top priority today to move on this. 

[Matt26]

I use HUB in Oakville. They're a bit expensive, but when you do Airbnb full time, it's well worth it. 

[Angela83]

Good to know. Do you have a commerical insurance with them? Would love more info. 

[Jay334]

I see that Cooperators insurance now has short-term rental insurance called duuo, that you only pay for when you have guests.  You don't have to have your home insurance policy with Cooperators to get it, and you buy it online (no insurance agent).  I like that it offers rental income replacement if a guest causes damages that mean you can't rent while the damages are being repaired.  

duuo.ca

For my 3 bedroom house, the coverage is less than $8/night, which seems pretty good given the coverage they're offering.

[Mary925]

I use Ches Insurance which covers commercial insurance as I have long term tenants upstairs.  Main floor is the air bnb in My townhouse.

[William-and-Alicia0]

Any of you doing AirBnB in Oakville ON? I have been having lots of trouble with their new bylaw which requires Town of Oakville to be listed on the insurance certificate as "Additional Insured" or "Certificate Holder". The insurance I currently have does cover for short term rental but they flat out refuse to put Town of Oakville on the certificate. Anyone has a similar issue? I already have the coverage on residential + STA, but this little requirements seems to be pushing towards needing Commerical Insurance. Been in contact with my broker and the Town for months and there is no clear resolution - not even they know how to comply with the requierments it seems?