Are You Renting Out Your Home on Airbnb? Make Sure You Have the Right Insurance
Are You Renting Out Your Home on Airbnb? Make Sure You Have the Right Insurance
Airbnb has become a popular way to make extra money by renting out your home or a spare room. But if you’re not careful, you could be putting your personal assets at risk.
That’s because your homeowners insurance may not cover you if something goes wrong while you’re renting out your home. For example, if a guest gets injured on your property, your homeowners insurance may not cover the medical bills. Or, if a guest’s belongings are stolen, your homeowners insurance may not cover the cost of replacing them.
To protect yourself, you need to get a special type of insurance called rental property insurance. Rental property insurance covers you for the same types of losses that your homeowners insurance would, but it also includes coverage for things like liability claims and property damage.
It’s important to note that Airbnb does offer some liability insurance for its hosts. However, this insurance only covers up to $1 million in damages. If you’re renting out your home for a significant amount of money, you may want to consider getting additional liability insurance.
To make sure you have the right insurance coverage, it’s important to talk to an insurance agent. They can help you assess your risks and recommend the right type of insurance for your needs.
Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder
Search All Blogs
Read More Blogs
Customizing Cold Protection: Essential Auto Insurance Endorsements for Winter Driving
Standard coverage isn’t enough for winter. Learn about Gap, OEM, and specialized endorsements to fully protect your vehicle and costly winter accessories.
Defrosting Disaster: The Costly Liability of Ice, Water, and Frozen Sidewalks in December
Frozen sidewalks, overflowing sumps: A December guide to home insurance liability and water damage coverage, and how to avoid costly claims.
Tinsel and Tropes: A Cozy Look at Why Classic Christmas Movie Moments Endure
From Zuzu’s petals to the leg lamp: Dive into the nostalgic tropes and timeless comfort of our favorite classic Christmas films.
The Silent Season: Securing Inventory and Operations During Christmas and Year-End Closures
Closing the shop for the holidays? Key business insurance checks for protecting vacant property and high-value inventory from theft and winter damage.
The Most Sustainable Gift: Life Insurance and the Value of Income Continuation Planning
Life insurance ensures the Christmas cheer continues. Practical tips on using income continuation math to calculate the right term policy size for your family.
From Home to Holiday: Securing Your Christmas Road Trip Auto Coverage Checklist
Heading over the river and through the woods? Your Christmas road trip needs an auto insurance checkup, focusing on roadside assistance and UIM coverage.
The Fire Under the Fir: Insuring Against Christmas Tree Calamity and Holiday Fire Risk
Don’t let a dried-out tree ruin Christmas. Essential home insurance tips for fire safety, electrical risk, and candle liability during the holiday season.
Cozying Up: Embracing the Danish Art of Hygge for a Stress-Free December
Banish the December chaos! A simple guide to adopting Hygge—the Danish concept of cozy contentment—for a truly joyful holiday season.
Tinsel, Traffic, and Transactions: Insuring Your Business Against December’s Holiday Rush Risks
Don’t let the holiday rush expose your business. A guide to essential commercial insurance coverages for increased sales, foot traffic, and cyber threats in December.
The Ultimate December Gift: Why Life Insurance is the Most Important Present You’ll Ever Give
Forget the gadgets; life insurance is the real gift of security. A timely look at protecting your family’s future during the season of giving.