Your property is likely covered under a home insurance policy, and your vehicle under an auto policy. Both are personal insurance policies that exclude “business activity” and would likely have no coverage for an Airbnb rental. An insurance policy for Airbnb would entirely replace your current home insurance policy. It would essentially cover what your homeowners already does, plus add the business exposure found in renting on Airbnb.
Having an Airbnb Insurance Policy Helps Protect You from the Unknown
When you get an Airbnb insurance policy, it covers you from things you cannot prevent. What if an Airbnb guest slip and fell while staying at your property and claimed you liable? For this, you need Airbnb insurance that would respond and defend you in court, and pay out for medical expenses and potentially punitive damages. What if an Airbnb guest accidently set fire to your home and your homeowners insurance denied the claim as the fire was the result from business activity? For this, you need an Airbnb insurance policy that has building coverage to rebuild your property. When you open your doors to an Airbnb guest, you are opening yourself up to potential property damage and liability claims. Make certain you have an Airbnb insurance policy from Proper Insurance®.