Ontario Rental Property Insurance

Rental Property Insurance

Renting out your home, condo, or cottage is a great way to start generating income with your property. The one thing that might surprise you is that your current property insurance may not cover you for having renters, and there might be exclusions in the policy for renting out the property.

Thankfully there are insurance policies that are specifically designed for rental properties. These rental property insurance policies are designed to give landlords the extra coverage they need to protect their investment.

Having an insurance broker who can walk you through your coverage options is ideal. They have the experience and expertise to help you select the right coverage that you need to protect your interests.

Knowing Where to Start

There are specific insurance guidelines for short-term rentals vs long-term rentals. If you are renting to multiple students or if you are renting out your property to a family. Knowing what your insurance needs are before you agree to start renting out your property can avoid some headaches.

If you're thinking about renting out one of your properties or even at the stage where you are looking at buying an investment property to rent out, please feel free to contact us for more information. We can help you avoid issues before they arise and help you find the best coverage for the right price.