What % of the revenue do you give to your landlord?

Maybe we should start a new thread, “Any Landlords Out There, How do you deal with tenants ABBing?”… I’m curious if they may have an answer to the great insurance conundrum

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by the way, you sound very responsible and I commend you for at least attempting to do the right thing, unlike so many here who have no trouble riding bareback and putting their landlords at profound risk!

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Yes! Great thread idea! Start it!

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@JanaM I agree with @konacoconutz kudos for taking proper precautions! So many people come to this forum boosting about renting flats and then using them for ABB, without any regard for the home owner.

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Yes I am.I want to do everything right,I do not want to get in trouble :slight_smile:

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That is good idea :slight_smile:

Are you talking about contents insurance Kona or buildings insurance (or indeed maybe both!)

The first thing I did when I started accepting guests was to take out insurance against any damage they might cause (and I made sure my insurers understood what Airbnb was). In the process I had to give up my contents insurance (because they said it could be a guest that that stole the items). The end result being the building is insured, the guests are insured against hurting themselves, my contents are not insured.

I think there could be differences in insurance coverages in England. Here there is renters insurance which covers only the contents if you rent and say you are burgled. I think that is what you mean by content insurance. Homeowners insurance is something different. That is a policy that can only be taken out by the owners of the building, and would protect against liability of non commercial guests, fire, floods, hurricanes, etc… Or other things like acts of god maybe… Wind events, etc.
but you are saying you have coverage that would protect your owner? YOur landlord? The UK may be different, but here a standard homeowners policy will not cover us in the event of Air guests getting injured and will even sometimes get canceled if the company finds out Air is being done on the owner’s property. But again, the UK may be different.

@konacoconutz. If you look at your household policy, you will see that there are line items for different coverages. The structural/replacement line is separate from the liability, contents, accommodations during renovations, etc. It is possible for a policy to be written that includes some and not the other. Theft would be one of the easiest lines to omit, and to be honest, it makes sense in home-sharing that an insurance company would like to omit that. Most policies do require that there be a police report which concludes that the house was actually robbed through forced entry; and that it wasn’t a drug addicted member of the family who removed the contents of the home.

Anyhow, even in the States, it is possible to have a policy that insures the structure but not the contents.

Yeah I don’t have a standard policy; mine has lots of exclusions that put my personal belongings at risk but cover everything else including guests personal injury. If I was to stop hosting my insurers have already confirmed they’d be fine with returning it to a normal (and cheaper) policy.

I know what insurers are like so I had to be very clear on the situation with them from the get go … I didn’t want to be in the situation where I thought I had cover and actually didn’t.

We do have a product for landlords in England but it covers against things like unpaid rent …

You are right! Mine is a pretty bare bones one and theft is not on it.

I’m just wondering though… would it protect your LANDLORD him or herself if someone on their property, which you rent, were to get injured and sue. Keeping in mind that Americans are a more litigious lot than Brits or Europeans in general.

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My assumption is they would sue me … so I have insurance against that. Why would they sue my landlord ?

Hey @Zandra Are you using Admiral - I understood they were the only ones in the UK doing BNB cover. I didn’t realise the trade off is that your own contents won’t be covered.

If this is the case, I would seriously consider not doing BNB as I need to protect my contents.

I’m looking into this at the moment so any feedback would be great

I think what @konacoconutz is saying that they would sue you and the landlord… so you need to make sure your insurance covers the landlord OR your landlord has insurance covering such a scenario

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In UK is special insurance for holiday lets (apartments,cottage etc).I was told I cannot have standard policy,so I have holiday let insurance.

Because, you are not ultimately responsible for their property, the owner is… So say if injured guests, or their insurers were to sue here in the US, (and @anon67190644, correct me because you do seem to know a lot about this issue…) the lawyers would take a look at the value of your house, how many mortgages or liens are on it, to see if there was equity worth going after. And then they would see who the actual owner is (easy enough to find through property records)… They may want to soak your policy as well as go after the house itself. They would settle for a suitable amount. This is how a landlord would lose their home if they were not insured.

Insurance companies can be quite the barracudas.

I give a rather shocking example… My neighbors were on their OWN land cutting their own trees when they fell. They went to the hospital and within days, their homeowners insurance company was trying to contact US, the surrounding neighbors, to see if the guy was really on OUR land and not his! They wanted our insurance company contacts. Of course we told them to pound sand!

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No I’m with Aviva. It took them days to come back and confirm they could insure me but I was fine with that… and yes I had to sacrifice my contents insurance.

Thanks @Zandra I’m going to look into admiral - will let you know how I get on.

Not UK - Scotland :wink:

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