Airbnb Insurance Toronto

Vacation stays in hotels are becoming a thing of the past as home-sharing services such as Airbnb are taking over the market. On average, an Airbnb host can make upwards of $2,000 a month, making it a fairly lucrative endeavour for many people in the city and the GTA alike. 

With more than 9,500 entire-home Airbnb listings in Toronto alone, homeowners and short term rental landlords need to protect themselves and their properties. This is where KASE Insurance can help. We offer comprehensive policies for Airbnb insurance in Toronto, that can provide you coverage against numerous risks unique to short term rental units.

Rest easy when guests stay in your home or rental property when you choose KASE Insurance. Keep reading to find out why we’re the right insurance broker for you.

What Is Airbnb Insurance?

So you’ve made the decision to start renting out your home or a portion of it on Airbnb—that’s great! The next step is making sure that you and your property are protected against any potential liabilities for when guests stay in your home. That’s where Airbnb insurance in Toronto comes in! Airbnb insurance is more than just homeowners’ insurance. It can provide coverage for any number of risks and liabilities such as property damage, bodily injuries, and most importantly, theft. 

It’s your responsibility as an Airbnb host to ensure that not only do your guests have a safe stay but that your home is safe during their stay as well. You can do this through Airbnb insurance in Toronto.

View of Toronto’s skyline from an Airbnb insurance Toronto

Why Is Airbnb Insurance so Important?

Airbnb insurance is unlike any other kind of homeowners’ insurance available. Most homeowners’ insurance policies do not provide coverage for short-term rental properties, leaving you vulnerable to guests staying in your home even if you do have this kind of insurance. Additionally, making sure that there is proper coverage in place will guarantee that you are protected against liabilities that are unique to being a home-sharing host.

While the Airbnb platform itself does offer its hosts some protection, it does not provide the extensive coverage that you need, especially in instances of theft. It’s a nice starting point, but these policies cannot replace an insurance policy, which they even state themselves. That is why it is so important to ensure that you have Airbnb insurance in Toronto in order to make sure that you have coverage that even the platform cannot provide.

What Does Airbnb Insurance Cover?

The degree of coverage that you will receive through Airbnb insurance in Toronto will depend on the policy that you get. However, there are a few features that you can expect to be included in your policy, including:

  • Bodily Injury: If a guest suffers from a severe injury while staying at your rental property, you can be held responsible as the owner. If they make a claim against you, Airbnb insurance in Toronto can make sure that you don’t have to pay exorbitant legal and medical fees.
  • Vandalism & Property Damage: In the instance that your property is vandalized or damaged by your guests, you are covered. Typically, this particular insurance policy can assist in paying up to $1,500 to fix any of the damage done.
  • Extensions of Liability: Should your guests cause damage to your neighbour’s home during their stay, you will likely be held financially responsible. Having insurance offers coverage for acts of vandalism, water damage, and infestation to neighbouring property.
  • Theft & Attempted Theft: While you may conduct a thorough vetting process before you let guests stay in your home, you never know what might happen. With Airbnb insurance in Toronto, you and your rental property are protected when it comes to acts of theft during your guests’ stay.

KASE Insurance offers completely customizable insurance policy plans so that you can guarantee that you receive the coverage that you need without paying extra, which is why we’re the leading insurance broker in the GTA.

Who Needs Airbnb Insurance?

Anyone who is currently or is planning to rent out their entire property or a portion of their home on Airbnb should have Airbnb insurance in Toronto. As previously mentioned, while Airbnb does offer their hosts some limited coverage, the key here is limited. In order to make sure that you and your home are fully protected, its best to seek out an insurance policy from a broker in the GTA.

There are risks and liabilities that are unique to short-term renting on home-sharing platforms. So even if you already have homeowners’ insurance, you won’t be covered for these particular liabilities. Consider KASE Insurance for all your insurance needs.

Why Go With KASE Insurance?

With nearly 10,000 Airbnb properties in Toronto, Airbnb insurance has never been more important or necessary. At KASE Insurance, we provide comprehensive Airbnb insurance plans in Toronto, helping protect property owners from liabilities unique to the short-term rental market. 

We pride ourselves on giving our clients the peace of mind that they crave when leaving their homes in the hands of strangers, and we can do the same for you. If you are looking for all-inclusive Airbnb insurance in Toronto, look no further than KASE Insurance. Contact us today to protect yourself tomorrow.