Quote: (05-30-2015 06:54 AM)sammybiker Wrote:
This is a good question. I'm not yet an Airbnb host but I had thought that Airbnb provided some sort of liability coverage...up to $1mm, if I recall?
Relayrides provides a similar level of protection for their owners/hosts.
Quote: (05-28-2015 04:26 PM)jamaicabound Wrote:
One question for anyone doing the AirBNB hustle. Do you have a legit homeowners insurance policy that covers renting for a single night?
Reason I ask is no standard homeowners policy is going to cover someone getting injured on property. When I started to rent out my primary residence I had to change my policy to one which I was renting to a tenant and even that had specific language which pretty much made it clear it was for a long term tenant.
The few people I know who have sought out policies to cover an AirBNB business have not had luck finding one. Also, I forget if it was this forum or another but I recall hearing someone say someone had broken a leg in their place and insurance was refusing to cover it because of it being rented on a nightly basis as a business.
You are correct I believe they do have a 1 Million Dollar coverage, the story I recall hearing about a women breaking her leg airbnb would not cover it, his insurance would also not cover it so this guy was on the hook for hospital bills and whatever other money she wanted.
Also, on a totally seperate note lifelock has a million dollar insurance policy if your identity is stolen but I hear its impossible to cash in on, not saying you should get a million bucks but even being compensated for fraud charges and headaches and whatever expenses come along with it.
I'm too lazy to pour over the TOS, however just doing a quick google search here's what comes up as the preview on AirBNB site regarding their gurantee...
The Host Guarantee is not insurance and should not be considered as a
I couldn't find the actual section on there site where that continues but seems they are really covering themselves and giving themselves an out to paying claims. Also many items are not covered in the TOS as well.
I'm curious to get into AirBNB and would do it if I had a vacant spot I wanted to make a little money off of during a lag between tenants, however I have no desire to go buy a place specifically to try to make it an Air BNB biz.