Short-term rentals through platforms like Airbnb and Vrbo have become popular across Canada—but many homeowners don’t realize that standard home insurance often excludes short-term rental activity. One claim without proper coverage can be costly. 🛡️

Why Short-Term Rentals Change Insurance Risk

Unlike long-term tenants, short-term guests bring:

• Higher turnover and unfamiliar occupants 🔁
• Increased risk of property damage or theft 🧱🕵️
• Greater liability exposure from guest injuries ⚖️
• Fire and water risks from improper use of appliances 🔥💧

Essential Insurance Coverages

• Short-Term Rental Endorsement or Policy – Explicitly allows Airbnb-style use 📄
• Property Coverage – Protects the building and furnishings 🛏️
• Liability Insurance – Covers guest injuries and legal claims 🛡️
• Loss of Income – Replaces booking revenue after a covered loss 💸
• Damage & Vandalism Coverage – Important for frequent guest turnover 🚪

⚠️ Platform-provided “host guarantees” are not insurance and have limits.

Risk Management Tips

• Fully disclose rental activity to your insurer 📣
• Install smart locks, smoke detectors, and leak sensors 🔐🚨
• Set clear house rules and occupancy limits 📝

Final Thought

Short-term rentals can be profitable—but only if properly insured. A Canadian broker can help tailor coverage so your Airbnb income doesn’t become a liability. 🇨🇦✨

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