I agree - I can’t see the Airbnb liability.
If the host is undertaking a commercial activity and hasn’t got insurance… I don’t see it as a landlord problem, but the landlord may be the only one with cover
Another consideration is what your assets are and how they are protected in the state you are a resident of. As a Texas resident, about 90% of my net worth is exempt from a lawsuit. My home, 30,000 worth of belongings, all my retirement savings (which is almost all of my savings) and my pension are all safe. Also 2 guns so I should go buy another gun. All my jewelry is under the limit. I don’t have any valuable collectibles or non-retirement investments.
Included in what’s not safe are investment properties and cash. So someone with multiple properties and a big savings account would be more vulnerable than I am.
I know lack of insurance doesn’t keep me from being sued but it also doesn’t dangle any temptation in front of an unscrupulous guest.
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You can’t post this.
Oh, alrighty. Simply reaching out to you folks in case anyone needs help. All good! Happy Tuesday, Nashvillians!
Hi all! Reviving this thread as I return to hosting after a year and a half off. Two years ago, USAA told me it was fine to rent my guest room on AirBnB as long as it was a room in my house and I was living on site. I called again today and got the same answer.
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This is an old post, but I have some new information as of 2019!
USAA is starting to roll out coverage for short-term rentals (such as AirBnB), state by state. Many states are already covered (Virginia is not covered yet, unfortunately). USAA sets a maximum of 2 stays per month (which I think is quite arbitrary). I also don’t know if that’s an average or a monthly max. The agents are not yet very knowledgeable because most have not yet dealth with it. It also could be that rules vary by state. I will keep checking back each month. My USAA coverage for a farm was $1800 per year (3500 sq ft home with 4 bedrooms). My commercial policy is $3600!!! I cannot wait to lose it!
Also of note, I had no trouble with AirBnB’s insurance paying out on a $4500 loss. Bunch of little things…like acetone on my PA House cherry night stand. Extra cleaning. Just stupid people.
In the case of the microwave, it cannot be expected that AirBnB pay on that claim since two guests had access to the same space regardless of whether both guests used it. Cannot go on he said / she said. If only one guest is there, then the guest has no defense!
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Agents are not very knowledgeable about AirBnB. I would not trust ANY answer unless it were from a manager!!
Except for the states where USAA now provides specifically covers AirBnB, renting any kind of space via AirBnB and the like is NOT ALLOWED.
Renting rooms via CL or a site like that is a bit different. It is a short term rental, but you meet the person ahead of time and most likely do a background check, sign a lease, etc. That is FAR less risky to an insurance company than AirBnb!!
also forgot to highlight that, in all cases, living on site is a qualification!!
They still need to get up to speed though. I host an average of 15 stays a month. I’ve done Airbnb in my home and later in a guest suite separate from but attached to, my home for almost 5 years. I’ve hosted about 700 guests. Zero claims on the host guarantee. Zero incidents of damage where I needed their help. I would gladly pay a reasonable additional amount for a STR endorsement. The insurance business is leaving money on the table. If they can insure motorcyles and their riders they can insure Airbnbs.
I completely agree. Even though I knew it would do no good, I attempted to argue with the rep stating that USAA (and other regular insurances) now cover Lyft and Uber gaps (that moment when the person is getting in or out of the car)…and yet they set no maximum riders per month. They must follow similar practices for all of their insurances. AirBnB insurance is first in line over property insurance…so, really it is a gap coverage!
Of note, the STR coverage USAA is presently rolling out is just something added to the insurance; there is no additional fee.
I, too, would be happy to pay an additional fee (hopefully a lot smaller than my commercial insurance) to have unlimited stays! I host around 4 or 5 each month (but only half of them are through AirBnB)!
The reason given was that they wanted to avoid “commercial activities”. Any use of your home rented out is a commercial activity, regardless of whether it is 2 stays or 15 stays per month!
Yes, the people on the phone aren’t necessarily knowledgable, but I’ll take them at their word. Others have reported they had their policies canceled when USAA got whiff of a STR business. I was told twice renting a guest room on AirBnB was covered so I’m not going to sweat it.
I switched to AAU (Parent company is USG) in Arizona specifically because of our Airbnb business. It’s the only insurance company I could find that covers when we live in the same house and Airbnb out one room with shared space. It’s minimum 2 night stay, but no limit to how many bookings per month. Pricing is reasonable as well. So that may be an option, if available in your state.