Homestay Host Insurance

When you rent out your property to a guest, it can be a very positive experience. But what would happen if the guest accidentally, or intentionally damaged your property and you had to file an insurance claim? Most insurance companies consider being a host on Homestay a business transaction. You are allowing a traveler or family to rent your property in exchange for money. Fundamentally, this constitutes business activity and therefore, you need a specialty insurance policy. Not only does Homestay host insurance cover damage caused by a renter, but it entirely replaces the current coverage you have.

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Giving Yourself Peace Of Mind

The single biggest exposure a Homestay host has is liability insurance exposure. What if a traveler or guest was injured while staying at your property? What if their health insurance company found you liable for their injuries? For this, you would need commercial general liability insurance or business insurance. A standard homeowner’s policy carries personal liability that excludes business activity. This is another example of why it’s imperative that you carry insurance that covers Homestay hosts.

Host Coverage for Homestay Might Be Legally Required

Depending on what state you reside in, it may be a legal requirement to maintain adequate property and liability insurance coverage when using services like Homestay. It’s a smart move that helps protect you and your home from unforeseen problems that could cost you a lot of money. Get covered with Proper Insurance – sign up for your plan today.

Do You Need Insurance for HomeStay?

If you’re planning on renting out your property on HomeStay, you might be wondering if HomeStay Rental Insurance is required. The answer depends on what state you reside in and how comfortable you are with risk. First, it’s important to note there are two types of coverage generally needed for owners who rent out their property: liability and property damage coverage.

Liability coverage for HomeStay helps protect you in the event your guest is injured and decides to file a claim against you. For example, if your guest falls down the stairs, they could blame you -” even if it’s not your fault. Liability coverage may also cover crime, such as your guest being assaulted while in your home. Liability is one of the largest risks that business owners have because claims can cost hundreds of thousands of dollars.

Get Coverage, Avoid Risks

Property damage coverage for HomeStay is a form of insurance that protects your property and sometimes your belongings inside. This kind of coverage would be beneficial in the event that your guest accidentally or purposely damages your property.

This is where the question of how comfortable you are with risk comes in. When it comes to renting out a property, you could be left responsible if you don’t have adequate coverage. So why risk it?

About the Author

Proper Insurance

Proper Insurance is the nation's leading short-term vacation rental insurance provider, with the most comprehensive policy on the market. We protect homes in all 50 states with unmatched coverage for your property, revenue, and business liability, customized to include guest-caused theft/damage, liquor liability, amenity liability (bikes, kayaks, hot tub, etc.), bed bugs, fleas, squatters, and more.


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