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Risk Management
Home Insurance Is Yours Up to Date?

Planning to rent your residence

Insurance Bureau of Canada encourages Canadians thinking of renting out their homes, in full or in part, to contact their insurance representatives to make sure their home insurance provides adequate coverage and that no exclusions apply to their specific situations.


Renting out your primary residence

A major sporting or cultural event is coming to your city. You decide to rent your home to visitors for a few weeks and take a holiday. When you return, you discover that a burglary has occurred and your jewellery has been stolen. You call your insurance carrier to make a claim. Are you covered?


Subletting your apartment You rent a small apartment downtown. You are planning to travel overseas for an extended vacation. With your landlord’s permission, you sublet your apartment to a friend of a friend. When you return, water damage from an overflowing toilet in your unit has damaged not only your apartment, but the apartment below. You do not have tenant insurance, and you were not in the country when the damage occurred.
Are you responsible?


In addition to owning a home in the city, you also own a summer cottage. Normally, you use the summer property, but this year you decide to rent it out. You find some suitable renters online. One morning, one of your renters accidentally starts a grease fire in the kitchen. Fortunately, no one is seriously injured, but your cottage is gutted. You phone your insurance representative to make a claim. Are you covered?
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