Before You Rent Your Home Again, Make Sure You Have Airbnb Insurance Liability Coverage

After purchasing Airbnb insurance liability coverage you can cancel the current coverage you have. It’s written to cover what you already have, plus adds the business liability coverage. Since renting your home on Airbnb is a business, you need this type of insurance coverage to have protection from a lawsuit or claim of bodily injury. Personal insurance plans do not cover business exposure. Many insurance carriers will cancel your personal insurance coverage in the event they find out your property is listed on Airbnb. If that were to happen, then you could be stuck paying all attorney’s fees and/or a liability settlement out of pocket. This is not the option you want to be exposed to.

Commercial Liability Insurance is a Legal Requirement in Some Cities

Liability insurance for Airbnb and other rental platforms isn’t just a good idea – it’s a legal requirement in some places. Many cities are now adopting new regulation that requires property owners to maintain a minimum amount of liability coverage before listing their home up for rent. If you don’t have adequate coverage then you could be violating the law. To stay compliant, be sure to check your state, city, and local county’s laws on short-term rentals. Even if your state doesn’t require liability coverage, it’s a good idea to sign up for coverage before you rent out your home. If a guest damages your property or files a lawsuit against you, liability coverage can help protect your assets.

Your Liability Needs to Be Covered When Renting on Airbnb

The “insurance liability” you automatically get through Airbnb is not fully published, and what is published shows more exclusions than inclusions. Should you become legally liable for the injury of an Airbnb guest, there is no guarantee it would respond at all. Don’t take the chance of an Airbnb guest getting injured at your property, and you not having Airbnb insurance liability coverage. Proper Insurance® can help get you set up with all the insurance you need to protect yourself before your next Airbnb rental!