The start of the Olympic Torch Relay on October 30 signals the fact that the 2010 Olympic and Paralympic Winter Games are fast approaching. The Insurance Bureau of Canada is reminding BC homeowners to make sure they are properly insured before renting out their property to visitors.

Since last year, IBC has been encouraging homeowners who are planning to rent their homes or apartments, in whole or in part, to contact their insurance professionals to discuss their insurance coverage.

Lindsay Olson, IBC”s Vice President for BC, Saskatchewan and Manitoba says that scores of visitors will be coming to BC next February. Renting out your home or apartment to some of them could affect your insurance coverage. Consumers should not assume they are covered for damage done by occupants simply because they have home insurance."

She said homeowners should contact their insurer and advice them of the rental plan. She said in some cases, your existing coverage may be adequate. In other cases, you may have the option to purchase additional coverage.