Real Estate

Airbnb and insurance question

  • Last Updated:
  • Jul 15th, 2020 5:36 pm
[OP]
Newbie
Jun 23, 2010
18 posts
25 upvotes
windsor

Airbnb and insurance question

For those who airbnb their house, whether it's just a room or the whole house, do you make changes to your home insurance policy?

I'm thinking of airbnb my house when I'm travelling, or the rooms for for short term rental to offset some of my carrying costs.

thanks in advance
9 replies
Deal Addict
May 23, 2006
1468 posts
474 upvotes
Vancouver
I know TD home insurance won't cover AirBnB unless it's for short term like 90 days a year.

I think most regular home insurance won't insure against AirBnB.

I believe AirBnB platform has it own home insurance?
mahnoy wrote: For those who airbnb their house, whether it's just a room or the whole house, do you make changes to your home insurance policy?

I'm thinking of airbnb my house when I'm travelling, or the rooms for for short term rental to offset some of my carrying costs.

thanks in advance
[OP]
Newbie
Jun 23, 2010
18 posts
25 upvotes
windsor
Fantastical wrote: I know TD home insurance won't cover AirBnB unless it's for short term like 90 days a year.

I think most regular home insurance won't insure against AirBnB.

I believe AirBnB platform has it own home insurance?
But would you just have regular home insurance on top of the insurance airbnb offers?
Deal Addict
May 23, 2006
1468 posts
474 upvotes
Vancouver
You have to check with insurance broker.

I think:

Home insurance for incidents not related to air bmb
Airbnb insurance for incidents related to air bnb
Deal Addict
Mar 10, 2010
1513 posts
508 upvotes
Doesn't having short-term rentals in your home invalidate your regular home insurance? I seem to remember a clause along those lines... but I may be mis-remembering.
Deal Fanatic
Oct 7, 2007
9132 posts
5017 upvotes
Having strangers living in your house introduces an element of risk that is different to manage for insurance companies. Anything from leaving the stove on to smoking in bed to leaving doors unlocked can be considered a lot riskier.
Deal Addict
May 23, 2006
1468 posts
474 upvotes
Vancouver
Actually, i think square one home insurance insures against AirBnB short term use. Maybe check with them?
Deal Addict
Nov 22, 2004
1545 posts
642 upvotes
When we ran our AirBnB in Niagara, we called a bunch of places and ended up going with AirBnB's own insurance. As mentioned above, many regular insurance companies were not insuring against short-term rentals. We didn't have another insurance on top of it as the AirBnB's insurance was 2~3 times more than regular insurance in any case.
Realtor @ Royal LePage Ignite Realty
Sr. Member
Sep 16, 2009
685 posts
475 upvotes
Fantastical wrote: Actually, i think square one home insurance insures against AirBnB short term use. Maybe check with them?
Yes that is correct. They insure short term and therefore AirBnB. There may be other providers as well.
Sr. Member
Sep 16, 2009
685 posts
475 upvotes
Btw - what is the current status of AirBnb in toronto anyway? Are you able to put your house(not condo) on AirBnb if you are not living there?

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