Do you have renters insurance?

[Christina985]

I am a host in Ontario, Canada and its my first time doing this! 

I have renters insurance on my property but after reading over the host insurance protection I am wondering do I need renters insurance or am I over compensating? 

Can anyone else Hosting in Ontario share their set up so I have a better idea of why is really necessary as I feel the insurance company is not being honest. 

Huge thanks in advance 😀

Happy hosting 😁

[Kaylee18]

@Christina985  Hey Christina, 

I have renters  insurance! I would say its 100% worth it, incase for whatever reason you are not covered under ABB policies. 

Just make sure the insurance company you are with KNOWS you are renting through ABB. I contacted quite a few who cover tenants, but will not cover short term tenants through companies like ABB, so just be careful and be upfront about what its for so you don't get screwed! 🙂 

[Christina985]

Kaylee, thanks for the input! We did tell them it was a rental property but since we are 1km further from the local fire hall then stipulated in the requirements (which is 13km from property) they charge us “extra” which I thought was BS since there is not traffic where we are located wouldn’t take long for 911 to arrive /shrug

our insurance is almost as much as the mortgage payment 😐

[Sarah977]

@Christina985  If you spend some time reading on these forums, you would know not to fall for Airbnb's  "million dollar guarantee." Definitely have your private insurance, but maybe shop around to see if you can find a better deal than what your current company is quoting. Do some searches on this site, for what other hosts have recommended.

Personally, I don't have private insurance, but that's because I just host a private room in my home for 1 guest, so I don't experience damages and no one can host a wild party, and don't live in the US where everyone is so sue-happy. There's little here a guest could wreck that would be expensive to fix or replace.