My insurance company doesn't cover airbnb (Canada)

I’ve been leasing my property long-term for a few years now. Thinking of chaging it to shorter terms and using airbnb because that way family members visiting me can also use it. However, my insurance company has told me they don’t cover airbnb.

I know Airbnb has both Host Guarantee and Host Protection insurances, each up to $1MM separately. My senses tell me this is enough, but I’m not used to airbnb and since I’m not technically paying for an insurance policy, this all feels very foreign to me. So do I just forgo the current insurance policy that I have and lease the apartment with airbnb worry-free? Is the $1MM enough? It sounds enough to me, to be honest, but what do you think? I know it depends on the location and a hundred other factors, but I can’t see damages or third-party liability exceeding $1MM in most cases (a similar unit, newly built, would be valued less than $1MM).

If you use the search field up there ^^ you’ll find a lot of posts on the matter, including some discussions about the Canadian insurers that cover AirBnBs.

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I did prior to posting, but thanks for pointing it out. There aren’t that many topics, and a lot of them are before airbnb expanded its insurance coverage.

You could try relying on it and gamble that if/when you the need the coverage, it rules in your favour. That’s a lot of hoping and praying IMHO. Just so you’ve crossed your t’s and dotted your i’s you should look into SquareOne and April for quotes. They are both Canadian companies and provide short-term rental insurance. It will replace your current homeowners insurance and it’s possible that you won’t be paying too much more to have that extra layer of security. Also, if you do find a good policy, you will be free to list your property on other websites that don’t have host protection/guarantee.

I think I answered you in another thread. The air host guarantees and coverages should NOT be considered as replacements for your homeowners coverage and it would be foolish to count on it. There are many options in Canada. Look through the numerous threads here where we have discussed it.

@sepandee I think this company can insure your home and covers you for Airbnb Rentals. Dalton Timmis . com /airbnb