Hello all, we are 3 month in with AirB&B, and have notified our insurance company.
They were fine with our long term renters but how now said we need to cancel our policy and go elsewhere for coverage.
I only have 10 days to do this and the price I received on insurance for my house and rental unit on our property was 2.5x our old cost…
and it has been really hard to find any companies that want to deal with this at all.
I am in the Toronto, Canada area…feeling desperate…any advice from those that have been through this would be fantastic.
As you are new, welcome. There are many threads here on this subject so search! You will find this is a problem many have had.
Companies seem to have wildly different policies on this – many in the U.S. and Canada have been cancelled when notified. State Farm offered to add a rider to our policy to extend our coverage to the STR unit in our home. Erie Insurance does the same (in some states in the U.S.) and it’s quite affordable.
There are several threads in which Canadians discuss insurance coverage for their homes and name specific companies. Good luck!
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