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It is that time of the year again! My Airbnb house insurance policies are due. Looking for new insurance providers or evaluating current ones is not a fun task, but it is important to go through the process because insurance companies change their products regularly and may offer you savings you were not aware of. 

I use Airbnb exclusively for my short-term rental business. If you are an Airbnb host, you are already protected by the Airbnb 1 million dollar  host protection insurance policy in the event someone gets hurt or the property is damaged by guests. While this policy is nice to have, it’s not enough coverage. 

During my research, I was informed by two insurance providers that if they are not made aware that the homeowner is running a business like Airbnb inside their home, the house insurance policy may be cancelled and not cover any damages. This is why it is very important to find an Airbnb insurance provider that offers good coverage for short-term rental businesses. 

I own 3 properties and while they have similar specs, they have different living configurations. For example, I live in one of my properties where I have an Airbnb apartment. House #2 has a tenant and an Airbnb apartment and House #3 has 2 Airbnb apartments. When I began researching Airbnb house insurance policies, I learned that each company provides different coverage and prices. Your house configuration matters a lot. 

All my properties had been previously insured by Lloyd’s, but I wanted to see what others offered so I reached out to Aviva, Cooperators, Square One and Lloyd’s. Aviva and the local Cooperators office informed me they no longer offer home insurance for Airbnb, so I got quotes from Square One and Lloyd’s. 

I won’t specify what each house policy includes otherwise this blog will be extremely long and potentially boring! The quotes I received are based on a $5,000 deductible. 


Lloyd’s Insurance

They specialize in commercial insurance which is designed for commercial buildings, but can also be a good fit for some short-term rental configurations.


  • Lloyd’s has a menu of options, and you can pick and choose the coverage that you believe you need vs paying for unnecessary items. Having flexibility to do so can save you money.
  • They automatically include a Cyber and Privacy Liability policy which can protect you if your computer gets hacked and guest information (such as social security numbers, credit card payments) is stolen. If you are an Airbnb host, this is not a big concern because we don’t collect guest information. If you are selling through and are collecting such data, this is a very important insurance feature to have.
  • If your unit has a tenant and a short-term rental unit in the same house, their prices are excellent. I’m saving $450 a year vs competitors.
  • I purchased my policy through a broker and have continuously received excellent service. I have dealt with the same person for several years. 


  • If you live in the property, Lloyd’s is not likely a good fit because you are considered a tenant under their qualifications and you would need a separate policy for your contents. I chose the competitor for my personal residence and I am saving $700 a year.
  • If your property is 100% short-term rental, you will only get coverage for Named Perils which means you won’t get coverage for replacement costs if there is damage to the property no water damage and no theft coverage to name a few things. This is a deal breaker for me and it should be for you, given that other companies include this coverage.
  • The cyber policy is not needed if you are an Airbnb host and are not collecting guest data, which means you’d be paying for something you don’t really need.
  • You will get charged an additional 3% if you wish to pay with your credit card

To get a quote from Lloyd’s contact:

McDougall Insurance & Financial

Dawna Rae Hicks, C.I.P., R.I.B.(Ont.)

905-579-1317 X 6112


Square One Insurance

They specialize in homeowners insurance and are an excellent fit for short-term rental business owners.


  • They offer similar coverage to Lloyd’s except for cyber and privacy liability.
  • They include the same coverage no matter the configuration. 
  • I don’t need a separate policy for content insurance in my own home where I also operate a short-term rental.
  • All the documents are signed online.
  • After you sign up, you receive a series of automated emails explaining in detail what you are covered for, how to understand your policy and how to process a claim.
  • You can pay monthly with your credit card without any additional fees.


  • Their quote was higher in the house where I have a tenant and a short-term rental unit. Therefore, I chose Lloyd’s and I’m saving $300/year.
  • Everything is done online and while you speak with the same rep while you are getting quotes, you don’t get to speak to them again after the policy is signed. If you reach out to them again, you’ll get a different agent.
  • Square One looks after their own interests vs dealing with an insurance broker who is on your side vs the insurance company.

To get a quote from Square One, call them directly. Don’t fill out the form online because they are designed for regular house insurance and you’d be wasting your time. You need to call them directly to get a quote for Airbnb house insurance. 


Shopping around for short-term rental home insurance can be a hassle, but it’s worth the trouble to ensure you have the right coverage for the right price. Remember that insurance packages change often so it is a good idea to get quotes every year.

I hope you find this blog helpful and if you have any questions, please feel free to leave a comment!