Personal Lines Perspectives: Risks with Renting out Your Home, How to Prevent Auto Theft, and Eating on a Healthy Budget

Your Insurance May Not Cover Risks Related to Renting Out Your Home

Listing a room, apartment or home for rent through a platform such as Airbnb may seem like a straightforward way to supplement your income. However, most property insurance policies do not apply when you leave the property in the hands of complete strangers. Additionally, although Airbnb provides Host Guarantee Protection, it should not be considered a replacement for renters insurance.

Talk to your insurer to verify your coverage before listing your property, and follow these tips to minimize your risks:

  • Set clear rules around etiquette and safety.
  • Require a security deposit to cover possible damages.
  • Secure your valuables to prevent damage or theft.
  • Screen your guests through their Airbnb and social media profiles.
  • Install smoke and carbon monoxide detectors.
  • Supply a fully stocked first-aid kit.
  • Provide emergency service contact information and addresses.
  • Maintain your property, and complete a home safety inspection.

Contact CMB Insurance Brokers for more information on minimizing your risks from Airbnb guests.

Preventing Automobile Theft

Automobile thefts cost close to $1 billion every year in Canada. Experienced thieves need only 30 seconds to steal your vehicle without a key, and will do so to either sell, get somewhere and dump or commit another crime. However, there are some precautions you can take to lower the chances of your vehicle becoming stolen:

  • Never leave your car running or leave your keys in the car when unattended.
  • Keep your windows closed and doors locked when not in use.
  • Park in a high-traffic, well-lit area when possible.
  • Consider anti-theft devices such as steering wheel locks or fuel cut-off switches.
  • If you park in a fee garage, take the pay ticket with you.
  • Do not leave valuables in the car. If you must, however, lock them in the trunk where they will not be seen.

2019 Top 10 Most Stolen Vehicles in Canada

The following vehicles are the ten most often reported as stolen in insurance claims for the year 2019:

  1. 2007 Ford F350 SD 4WD
  2. 2006 Ford F350 SD 4WD
  3. 2005 Ford F350 SD 4WD
  4. 2004 Ford F350 SD 4WD
  5. 2006 Ford F250 SD 4WD
  6. 2003 Ford F350 SD 4WD
  7. 2018 Lexus RX350/RX350L/RX450h/RX450hL 4DR AWD
  8. 2005 Ford F250 SD 4WD
  9. 2002 Ford F350 SD 4WD
  10. 1998 Honda Civic Si 2DR Coupe

Eating Healthy on a Budget

There is a common misconception that eating healthy is too costly. But with preparation, discipline and a little bit of creativity, choosing healthier food options can actually save you money. Check out the following tips for eating healthy on a budget:

  • Create a budget for groceries. Food can get expensive fast—figure out how much money you are willing to spend on groceries every week or month.
  • Plan your meals for the week. Knowing what’s for dinner every night can keep you out of the drive-thru lines and on a consistent schedule.
  • Make a grocery list. A list helps you stay within your budget and avoid purchasing unnecessary products.
  • Look for coupons and sale items. Before going to the store, look for any sales or valuable coupons that could save you money.
  • Eat a light snack before grocery shopping. When you shop on an empty stomach, you are more likely to purchase excess food that can run up your grocery bill.
  • Use cash when buying groceries. Paying your grocery budget in cash can help you be more conscious of what you’re spending.
  • Purchase fresh foods when possible. Fresh ingredients are often cheaper, more filling and have greater health benefits than other processed or canned foods.
  • Learn to love your leftovers. When cooking dinner, always try to make extra servings that you can eat throughout the week. Eating leftovers can help stretch out your food budget.