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Do you use any additional insurance?

What are your preferences on insurance? Do you buy any additional insurance? If yes, how much is it?

Thank you!

We have a “farm” insurance policy at our home because there are very limited insurers who will allow home owners to have livestock. They were very great about adding additional liability to our policy for Airbnb. One thing I should mention is that anyone who is using airbnb without liability is putting everything they own at risk. I can’t stress enough the importance of having proper coverage. Another thing to note is that you should make sure your policy covers you for theft and vandalism, and that that coverage extends to guests who are paying to stay. A lot of insurers have loopholes and they will do anything and everything they can to avoid paying.

As for the cost, that depends on your policy. We had an existing liability policy due our business and goats. To add Airbnb onto that liability, along with reimbursement for theft and vandalism and anything else that could go wrong (lawsuits), it only cost us an additional $250 per year. I would imagine it would be more expensive if we were buying a separate policy just for Airbnb.

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Yes we have a separate policy for the AirBnB space and guests. It provides liability coverage in case of guest injury or death, damage or loss of property including theft, and loss of income.

Our homeowners insurance didn’t want to provide additional coverage. As we’re basically running a business out of the space. My agent actually said he’s not sure what might happen in case of a large claim caused by a guest. So I had to find separate coverage on my own.

I wouldn’t call it cheap but it’s nice knowing it’s there, especially seeing how careless some people can be. It basically costs me one night’s stay or a little less per month.

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Who’s the provider and what is the cost?

Colorado, thank you so much for reply! Can you share who is the provider of this insurance? The cost of one night stay sounds like a good deal!

We also have farm insurance which covers us for public liability for one place. Our other place we also took out public liability for about $200. Would not do it without insurance.

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I have a Safeco homeowner policy. I told the broker via email so that I’d have a record of the communication that I was renting my spare bedroom via Airbnb and asked if we would have liability coverage for the guests. We also have a $1,000,000.00 umbrella policy. The broker said that our homeowner policy will cover us if our Airbnb guests file a liability claim and that the umbrella policy is a “follow form” policy meaning that it follows the homeowner policy in paying or denying a claim. From what I understand, my circumstance is unusual in that most homeowner policies will cancel you if you rent via Airbnb. I had more trouble convincing them not to cancel on us because one of our dogs is a pit bull mix.

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Homeowners with in-home commercial rider.
Professional Liability Insurance/Umbrella.

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Yes, just spent 2 weeks reading the fine print on various Policy Disclosure Statements…rather watch grass grow or paint dry!
I ending up insuring with GIO
Cost? depends on your country, (more options here in Aust I believe) how much you are insuring for, are you including contents, do you want to include malicious damage by guests, by friends of guests, accidental damage, how high an excess are you willing to pay… basically “how long is a piece of string” when you are asking how much does it cost!

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Here you go:


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