Renting Your Home or Space Out? Make Sure You’re Covered.

Renting Your Home or Space Out? Make Sure You’re Covered.

If you are using your home to make extra money through a home-sharing service like Airbnb you are far from alone. According to Airbnb, they now have over 6 million listings worldwide in over 100,000 cities in 119 countries or regions across the globe. On average, every evening over two million people stay in an Airbnb listed property. That’s a lot of properties and a lot of people involved in the process, it also poses a lot of risks.

Many homeowners may not quite understand the full ramifications of listing on Airbnb. First, your house is no longer just your home, but it now becomes a rental property, in essence, a money-making business. You are now dealing with the public and are on some level, responsible for their safety and well-being. If you worry about having a pizza delivery guy trip on your front porch or having a neighbor kid gets hurt on your trampoline, wait until you have the stress of having strangers staying in your home for a few days unchaperoned.

The reality is you will be liable if someone gets hurt on your property. Now you can minimize the financial damage suffered in a liability claim or lawsuit through insurance coverage. Airbnb provides property owners with what it calls its Host Protection Insurance. This provides up to $1 million in coverage in third-party claims of injury or property damage. This sounds pretty good, but there’s more that should be done.

First, if you file a claim on your personal homeowner’s insurance and they discover you have been renting your home out through a home-sharing service, they may not only deny your claim but may cancel your policy, potentially retroactively. So first, it is critical you let your homeowner’s insurance provider know you are involved in home-sharing.

You should be aware that your personal homeowner’s insurance policy may not cover a variety of losses including:

  • Personal property of yours that is stolen or damaged by a guest
  • A guest’s damaged or stolen personal property
  • Property damage done to a neighbor’s property by a guest
  • Injury caused to a neighbor by a guest
  • In the event you are renting out an apartment or condo, damage to the physical building may not be covered

If you are participating in a house-sharing program, contact us and let’s review your coverage and quote you a business or rental policy that can close the gaps. You’ve made a big decision to share your house, now make a smaller one to make sure you are adequately protected.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Search All Blogs

Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about
our blog writer?

Read more about KayLynn's background.

Search All Blogs

Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Insuring the Unexpected: A Glimpse into the World of Bizarre Insurance Policies

From Million-Dollar Legs to Kidnap Insurance: Unveiling the Quirky World of Unusual Policies

Cracking Down on Insurance Fraud: Protecting Yourself and Your Community

Combating Insurance Fraud: Understanding the Risks and Taking Action

The Marriage-Insurance Connection: How Getting Hitched Affects Your Coverage

Marital Bliss and Insurance: Navigating Coverage Changes After Getting Married

Life Insurance for College Graduates: Why You Need It and How to Get It

Life Insurance for College Graduates: A Smart Investment for Your Future

Pre-Existing Conditions: What You Need to Know Before You Buy Insurance

Pre-Existing Conditions and Insurance: A Comprehensive Guide

Demystifying the Insurance Declaration Page: What You Need to Know

Insurance Declaration Page: What It Is and Why It’s Important

Why You Need a Human Insurance Agent

Human Insurance Agents: The Best Way to Protect Yourself and Your Assets

How Your Smartphone Can Help You Get the Most Out of Your Insurance Claims

Smartphone Insurance Tips: How to Use Your Phone to Get the Most Out of Your Claims

Life Insurance: Factors That Affect Your Rates

Life Insurance Rates: What You Need to Know

Decreasing Term Life Insurance: When is it Right for You?

Decreasing Term Life Insurance