I would be interested in finding information about the usefulness of the HPI and Host guarantee. I’ve been getting some neg info about the coverage which kind of scares me and wondered if anyone has a solution to this issue.
I’m only familiar with using the damage claim. It’s not always smooth and guaranteed. You have to confront the guest with their damage and provide proof, all within 48 hours. If they dispute it, air has to make a decision and they don’t always side with you. This open time period also gives them a chance to leave you a negative review. Needless to say it is not comfortable or fun to claim on it. But it is better than nothing.
Thank you, Konacoconutz. What solutions are there then? It is apparent to me that the Air protection is a false sense of security. I have a private room in my home.
Look into comet.com …not sure if they cover damage but they do cover liability. And they are affordable.
A valid home insurance that accepts Airbnb is a must. As for their own insurance I can’t comment.
That’s what I’m hoping to find in this forum, Paul. I did call someone using an old post but didn’t hear back. Anyone that knows of a contact for this type of thing please share! I love doing this but don’t want to risk everything I own.
If you meet USAA’s membership requirements, they are quite good to work with.
Felix, I’m a USAA member, and when I asked them if home insurance for Airbnb renting would be an option they cut me off so fast it made my head spin! I would really caution new hosts to go barreling off making calls to their current companies. That is a super slippery slope!
Yes, you should always inquire as an interested party as opposed to a current member/policyholder.
I actually started with Comet. I am doing more research to find a company that will cover my home and my rental. The rental is a private room in my home.
Oh tell us what you think of comet? I’m in my dead season with some remodeling so have no guests and don’t want to pay for comet until I get booked up again. You are right. If only homeowners insurance companies would look at this as an opportunity to give us another product instead of punishing us for having a need.
They want up to 80 dollars for two rooms in my home. I’m still looking around. I’ll keep you posted.
$80 per month ?..
Yes, thats for two rooms. Its cheaper if you haeone room, around 50. I assume a whole house would beabout 100
I have found a great policy with Proper Insurance. They cater to Air BnB host situations. Its not cheap, but it is very thorough and covers my space even when its not rented. ( like if a tree falls on it during a storm) My space is a free standing apartment in my back yard, so it may be different for you. I would check them out.
What sort of rate have you received?
Peers is another company we have suggested to hosts to cover guests and their property. Their policy provides $1 million of personal liability insurance for your home share or vacation rental in the United States no matter which platforms you list on. For $36/month you’re covered for guest bodily injury and property damage, and reimbursement for up to 90 days of lost rental income due to damage caused to your property by the guest. In addition, you’ll have the option to choose which months you have coverage, this way you’re not paying for months you don’t rent out your property.
I have a free standing building in my back yard. Its a studio down and an apartment upstairs. The total square footage is 1800 sq ft. I insured it for 280,000 which includes the structure and contents. Their policy also includes a 1 million liability clause. So, for all of that the policy is $1270 a year or $136.22 a month. The policy is under written by Lloyds of London.
Hope this helps.
Hi Marian, can you find/post a link to Proper Insurance please?