Post by High Priestess on Oct 5, 2015 3:13:39 GMT
Peter shared in sept 2015
Claims and Coverage: Airbnb could be more up front about insurance risks
"In contrast to Airbnb is the web site of a short-term rental competitor, HomeAway. Under the security tab is a statement in bold type: 'A homeowner’s policy does not cover business activities.' It goes on to state that 'regular homeowners insurance specifically excludes business activities' and explains the difference between personal and commercial liability coverage. The web site is highly informative for potential hosts and guests with respect to insurance issues. One Canadian insurer is now offering a unique homeowners policy to those using matching services such as Airbnb and HomeAway and other companies are likely to follow suit.
Given the potential issues, Airbnb may want to take a page from HomeAway’s book and be more up front with users about the insurance implications of using its service."
Click here bit.ly/1LTFHeU for Law Times article.
My two cents: Although this was written for the Canadian reader, almost everything stated there appears to me to be relevant to the US context. This is a useful primer for Hosts concerned about their exposure to liability for damages and losses arising from hosting and the extent to which their homeowner's insurance may (or may not) cover those damages and losses. Home Sharers has had quite a few meetings about insurance in the past and it is an issue we continue to monitor and provide education about. Although I agree with the writer that Airbnb can be more informative, I also appreciate the fact that (a) Airbnb provides way more free insurance coverage to Hosts than HomeAway, and (b) Insurance policies vary tremendously from place to place and from time to time. It would be almost impossible for anyone to provide a one-size-fits-all or even atomized advice given all the jurisdictions in which Airbnb operates.
Claims and Coverage: Airbnb could be more up front about insurance risks
"In contrast to Airbnb is the web site of a short-term rental competitor, HomeAway. Under the security tab is a statement in bold type: 'A homeowner’s policy does not cover business activities.' It goes on to state that 'regular homeowners insurance specifically excludes business activities' and explains the difference between personal and commercial liability coverage. The web site is highly informative for potential hosts and guests with respect to insurance issues. One Canadian insurer is now offering a unique homeowners policy to those using matching services such as Airbnb and HomeAway and other companies are likely to follow suit.
Given the potential issues, Airbnb may want to take a page from HomeAway’s book and be more up front with users about the insurance implications of using its service."
Click here bit.ly/1LTFHeU for Law Times article.
My two cents: Although this was written for the Canadian reader, almost everything stated there appears to me to be relevant to the US context. This is a useful primer for Hosts concerned about their exposure to liability for damages and losses arising from hosting and the extent to which their homeowner's insurance may (or may not) cover those damages and losses. Home Sharers has had quite a few meetings about insurance in the past and it is an issue we continue to monitor and provide education about. Although I agree with the writer that Airbnb can be more informative, I also appreciate the fact that (a) Airbnb provides way more free insurance coverage to Hosts than HomeAway, and (b) Insurance policies vary tremendously from place to place and from time to time. It would be almost impossible for anyone to provide a one-size-fits-all or even atomized advice given all the jurisdictions in which Airbnb operates.