Have you rented your home to short term guest? Do you use AirBNB to rent out your home? Perhaps you’re an empty nester looking to rent out a room through a home-share program. Erb and Erb Insurance Brokers has a great insurance solution to your needs.
Many people don’t realize that the standard homeowner’s policy in Ontario excludes coverage for losses or damage that can occur while renting it to others. People wanting to take part in the home sharing economy would have to purchase a commercial insurance property policy, with different limits on their personal contents. Until now!
Keep Your Great Home Insurance and Protect Your Guests at the Same Time!
Erb and Erb Insurance Brokers now offers Aviva Insurance homeowner policy holders the option to add a simple endorsement onto their policy. The Short-Term Rental Endorsement can either be added or purchase as a standalone product for rental income property owners.
You can choose your level of coverage based on how much or little you want to share your home with renting guests.
- Option 1: Rent your entire home up to 90 days or a portion of your home, like a basement or bedroom, for the full year.
- Option 2: Rent your entire home up to 180 days or a portion of your home, like a basement or bedroom, for the full year.
- Option 3: Income Property owners can rent their entire rental property for the full year.
Is this Coverage for You?
If you want the ability to rent your home, or part of your home, for short periods this coverage is for you! If you want the ability to rent your home multiple times, to different renters, this coverage is for you!
The only condition, for you to rent your home, is that you must do so through a home rental network. Networks such as Airbnb, Flipkey, HomeAway or VRBO provide expert help in matching homeowners with would be renters. As well you can also be eligible for this coverage if you use an independent professional property management company.
Don’t Rely on the Standard Ontario Homeowner’s Insurance Policy When Renting Your Home Through the Sharing Economy
Call Erb and Erb Insurance Brokers at 1-800-265-2634 and get a quick estimate for your home and your home-sharing endeavours today. Or, Visit Here, fill in the contact form and will be in touch.
At Erb and Erb we believe that providing our clients with as many options as possible is important. That way you can choose the level of protection that fits your needs.
It’s your home, let’s protect it.