Airbnb Host Protection
The “free” Airbnb Host Protection provides $1,000,000 of liability coverage to the host for every booking through the website. Unlike the Host Guarantee, this is an actual insurance policy. Unfortunately, there are many concerns and exclusions.
The biggest concern has always been the $10,000,000 aggregate on the policy, which is an annual contract with the insurance carrier. This means if you add up all the claims, once you hit $10,000,000 the policy is exhausted. The math does not add up as Airbnb has 80,000 bookings per night around the world, and given our actuarial data on liability claims, this aggregate would be met within weeks.
Something has to give, so one would assume that because Airbnb is the named insured on the policy, they get to choose when and where coverage should apply. This combined with a long list of exclusions such as personal and advertising injury or assault and battery is the only thing that could keep it under the $10,000,000 aggregate.
Once again, it’s great marketing from a tech company that’s revenue relies solely on you listing and travelers booking through their website. In the event someone is seriously injured at your property and claims you liable, you want your own insurance with your name on it!