Air Bnb and Vacation Rental Insurance in Muskoka, Ontario Canada

[Brendon McNaughton]

Hey BPers,

I am managing vacation rental / Air Bnb properties in Muskoka, Ontario. One property has the $1m damage and $1m liability provided through Air Bnb and the basic property insurance. The owner let their insurance company know about them starting to do rentals. The insurance provider said they won't cover them if they do short term rentals. 

Should the owner expect that insurance for a vacation rental property will be more expensive relative to the insurance they had on the property when it wasn't being rented? Do insurance companies consider Air Bnb provides $1m liability and $1m damage coverage when renters are there? 

Can anyone recommend a good insurance broker or company that will insure Air Bnb/ vacation rental properties in Muskoka, Ontario? 

Thanks in advance!

Best,

Brendon