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So after reading through some threads both on this forum and others, I realized that for the last two years I thought I was covered with my homeowners policy plus Airbnb coverage. What I learned is that if I had filed a claim through my homeowners insurance, regardless of whether or not it was related to my Airbnb they would have denied the claim and cancelled my policy. I have done the research, compared coverage and premiums and have signed up with Proper Insurance. (Even has an option to add for bed bug elimination and compensation while you get them removed.) I am paying more for coverage but now I have piece of mind. I found the rep I worked with to be great. I read reviews and while there were a couple of unhappy customers it seem more on the part of the customers not understanding what they were purchasing. I can now sleep better at night. Hereâs who I used. Taylor Stults
Account Executive
Proper Insurance Services, LLC
Coverholder | Lloydâs of London
Since I live in Florida, Proper was going to cost $6500 per year ($1500 per year for the ordinary things and $5000 per year for âwindâ coverage). Not a viable option here in The Hurricane State!!!
Except what happens if you have damage and your insurance company discovers you are running an Airbnb and refuses to cover you even if itâs not part of the Airbnb and then cancels your premium?
I think there is a short-term rental option and then you can get an exclusion to prevent your insurance company from cancelling.
I wasnât willing to risk my most important assets. Wasnât worth the risk.
Supplemental homeownerâs insurance specifically to cover Airbnb was tricky to obtain, but my broker hunted tirelessly and found one through Lloydâs. I pay over $2,000 a year to rent rooms in my home, but i am covered.
Iâve posted before about finding Towergate Insurance, underwritten by Lloyds and based in London UK. Not only am I covered for B&B in my home and all the rest, they reduced my premiums significantly, with excellent customer service to boot.
Iâm in Australia and have a broker find insurance for our granny flat for about $200. Our farmstay also has insurance under our farm insurance for about $1200. All underwritten by Lloyds of London.
Towergate, huh? I may have to check them out. I too went through Proper, also with Lloyds of London, but I pay a pretty penny. My annual cost doubled, but the peace of mind is so worth it! @Lynick4442 - like you I was too afraid to risk âdonât ask - donât tellâ with my previous insurance carrier for the fear they would deny a claim.
I pay $2000 per year Australian to cover my Airbnb business including public liability and my general home insurance. It is double the cost of my old homeowners insurance policy. My excess is high at around $500 so i wont really make a claim unless it is something major.
