Because Airbnb is a business, it’s not only highly recommended but sometimes legally required for you to obtain insurance coverage for you and your property. Your standard homeowner’s insurance is typically not adequate for use in rental situations. Most homeowner insurance plans contain business activity exclusions that may reject claims involving business activity. Which, in this case, would be Airbnb rentals. If you’re renting out your property for use without proper coverage, you’re placing yourself at risk for liability lawsuits or property damage that may not be covered under your current plan.
Getting an Airbnb Insurance Policy is a Better Option
Commercial liability insurance will cover your Airbnb rental in most cases, but the premiums for this type of insurance are typically quite high. Instead, you may want to consider obtaining an insurance coverage plan specifically tailored to Airbnb rentals instead. It gives you much of the same coverage, depending on which plan for both that you would go with, but the premiums are much more manageable than those of most standard policies for commercial needs. Plus, an Airbnb insurance policy can double as homeowner’s insurance as well. That way, you can be rest assured that all your coverage needs are being taken care of with one simple and affordable plan.