Vacation is all about location, whether new experiences or revered traditions, where you stay is the key to a good time! Now that luxurious homes and tiny houses and every place in between are available through online booking services, the options are limitless.
Have you already joined the ranks of home-sharing? Are you considering renting out part of your home or property? Great! You should be aware of the potential hazards that come with this new opportunity.
Vrbo offers $1 million in coverage1, while Airbnb has recently upped their game and now offers $4 million in coverage2, so you are all set, right? No, not really.
You may be shocked to learn you should still have your own policies!3 Have you read actual Airbnb insurance claims reviews? Do you know all your reporting responsibilities? Do you understand all the policy coverages? Can you spot the gaps in insurance? What if some underage drinking happens on your site and someone gets hurt?4
There are truly horrific stories of loss and injury related to home sharing and we don’t want you to be one of the posts people read about online. We have a team of trained insurance agents that have successfully insured many home sharing businesses.
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1 https://www.vrbo.com/l/liability-insurance/
2 https://www.airbnb.com/help/article/2869
3 https://www.iii.org/article/coverage-for-renting-out-your-home
4 https://www.airbnb.com/resources/hosting-homes/a/how-airbnb-protects-hosts-5
