The Airbnb Host Guarantee is a nice little safety net to have, but there are a lot of gaps in this kind of coverage. The Host Guarantee comes with numerous exceptions that make it difficult to receive reimbursement after a claim is filed. For example, you have an extremely short window of time to file a claim. And if your guest overstays and damages property after the rental period, they won’t cover you. Their policy even requires you to contact your primary insurance plan before filing a claim with them! Relying on the built-in insurance that Airbnb offers could land you in hot water if a guest damaged your property. The biggest issue with the Host Guarantee is the fact it’s not insurance, which means it’s not a binding contract between two parties. Ironically, there is no guarantee.
Eliminate Airbnb Insurance Problems with the Proper Coverage Plan
Most commercial liability insurers allow you to customize their plan to fit your needs. But insurance can get a bit confusing. How do you know if you’re choosing the right kind of coverage? Plus, you’ll have to manage both a homeowner’s plan and a commercial insurance plan. Not only is this costly, but time-consuming and complicated. With Proper Insurance®, there’s no guesswork – just one simple plan that is affordable and designed to take care of all your coverage needs. That way, if something happens to your property you can rest assured that you’re in good hands.
Airbnb Coverage Problems That Could Bankrupt You
Bankrupt from a simple Airbnb rental? It sounds crazy but it could happen. Indeed, there’s no shortage of Airbnb insurance problems for property owners who file a property damage claim with the rental company. It’s important to understand that when you choose to rent your home out to a stranger, you’re trusting this person with a valuable asset: your property. If your home is damaged, or worse, destroyed, can you trust Airbnb to reimburse all your costs? And if your guest is injured or killed during their stay, are you prepared for what could be a long and costly legal battle with the family? While no one enjoys thinking about these events, it’s important that you, the property owner, is always prepared for the worst-case scenario.