Which insurance company insures airbnb property in Canada

[Sepand0]

My current insurance company has informed me that they will not insure my property if I host it short-term through websites like AirBnB. I'm looking for insurance companies that do exactly that. Can someone in Canada mention a few that don't have problems with airbnb rentals?

Thanks

[Juliana262]

I am insured with Intact Insurance. They will not cover me for Airbnb. With Aviva my premiums will be $1020. more. It kind of defeats the purpose of making some extra money for home maintenance.

[Jiwan1]

Have anyone tried April.cahttps://www.april.ca/insurance/short-term-rentals-insurance/?

I am with TD MM, but thinking of switching, I came across April when i was researching on web. Please let me know if anyone has an expereince with them.

Thanks

[Mandi-S-Just-Business-Ro0]

I am using April.

Intially it was difficult, because I'd had a prior claim 2 years earlier due to a cracked hot water tank that did a lot of damage. I

Intially they were reluctant, but they actually turned out to be pretty good.

I got them through Lamonte Collings in Bradford, Ontario. BTW, they are backed by Lloyd's, the same insurer that provides Host insurance for Airbnb.

[Sebastian418]

what is host insurance ?? if you dont mind me asking- never heard of it

[Linda1542]

When you sign up with AirBnb to rent part or all of your property, you are referred to as a "host".  Your homeowner's insurance will not cover short term rentals, so these people are asking for any info on Canadian companies that offer for STR's.  A host usually has his home insurance, AirBnb's insurance covering STR's-- (which may not be enough), and outside STR insurance.

[Janine3]

if TD MM knows that you are doing short-term rental in the property, your policy is voided.   No coverage. 

[AnneandMurray0]

FYI - TD MM said they would cover us as long as we were renting fewer than 120 nights per year. 

[Ray113]

I called them and they told me they only do business with brokers. I didn't like that. I am strongly considering Sonnet because the quoting process is easy and the rate is incredible.

[Robert881]

Square One quoted me a great deal and then declined the policy due to "condition of the house". I live in a Victorian built in 1860. Everything has been updated and there's a $24k metal roof. The facade has cedar skakes that are near the end of their life and the trim needs painting (like half the buildings in the city!) and all require a cherry picker or scaffolding to do and are on the maintainance schedule for next year. That work cost me a policy. All other quotes are for maximum 49% short term rentals and are roughly 75% higher in premium.

Be careful! If an insurer turns you down or cancels your policy then premiums will double or triple for minimal coverage.

[Adam-and-Sylvia0]

are you still hosting? I live in a century home and am moving into another one and hoping to airbnb the first - having a hard time getting insurance for either of them at the moment! 

who did you land with for insurance? 

thank you!
s

[Tom-and-Rose0]

Just advised by our home insurance company, Cooperators in Saskatoon, who I believe use Saskatchewan Government Insurance, that because we are doing a small amount of Airbnb and even though we are always in our home, they still want to classify us as commercial and also require a tenant policy. Previous quote was $1,869/yr. But if we continue with Airbnb they want $2,682/yr.  We are checking for other insurance companies, but if not successful we will put up our rates.  If that drives away our clients we will then cancel our Airbnb and go back to normal home insurance. Pity, the kids have left home and we feel guilty using one of our 4 bedrooms and 3 bathrooms. The economics are not yet in place to sell and move into something smaller.

[Mandi-S-Just-Business-Ro0]

I am now 6 months in to a policy that costs me $177 a month (Ontario) specifically to rent rooms on Airbnb. I live here and they do not allow cooking (yay!) nor people under 19 (yay again). It's about twice as expensive. However if I did not have Airbnb specific insurance, a regular insurer would not pay for damages and in all likelihood would cancel the policy.

Tom and Rose, i shopped for a co-operative broker willing to earn their commission. All in all it took about a month, and I had 4-5 refusals before she found April (Lloyds). i am very happy. Cheers!

[Francis114]

Try Wanawesa

[Francis114]

Sorry, meant Wawanesa

[Natalie406]

I just got insurance with Wawanessa