Insurance questions

From a post on another forum about this topic:


Hi all,

I'm an empty nester/homeowner who has begun to rent my daughter's bedroom to visitors through Airbnb.

My question -- do you know of insurance companies that cover personal liability -- ie cover you in the event that the guest is injured on the property and sues? Airbnb doesn't seem to know anything about this -- they just have a disclaimer on their site saying that hosts need to make sure we have insurance for this possibility.

Thanks,Susan

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Susie

Susiea year ago

It might depend on what your unit is like but my home insurance covered it. Try asking my agent who, as you can see on Yelp, is well regarded! www.yelp.com/biz/halbrook-insurance-agency-oakland



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Susan

Susana year ago

thanks



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Cynthia

Cynthiaa year ago

There is a conversation somewhere about this. Either in this group, new host or 911. You may to do a search on insurance. Not certain that home insurance will cover. You should check with your agent. The other discussion said it would not and had some recommendations. Do your homework. I am planning to get additional (or increase) insurance. Haven't had a chance to do it yet, but will.



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Susan

Susana year ago

Thanks -- I've been talking with a number of different insurance agents/brokers and have not found anyone who covers liability for airbnb guests. Farmers is in the process of developing an addendum for their clients and unfortunately right now they aren't offering insurance in my zipcode due to the perceived risks. I'm really surprised that airbnb hasn't identified insurance companies that can provide the necessary insurance for hosts -- not a good business practice in my estimation. Having a guest sue a host and have the host be personally liable could really put a damper on the business.



Susan



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Susie

Susiea year ago

Suggest it to Airbnb. They love getting feedback!



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Susan

Susana year ago

Where is the best place to give them this feedback?



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Roz n' Alyx

Roz n' Alyxa year ago

Hi all !!!



I've only been at this for a week and I love it so far!!! I looked into insurance before I got my bnb going and couldn't find any helpful info either ... I'm entertaining the idea of having my guests sign a disclaimer that they will not sue for any personal liability while a guest at my bnb. What do you folks think? Would that hold up in court?



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Jennifer

Jennifera year ago

You can get an umbrella policy that covers renters. It runs about $300 for a million dollars in coverage.



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Susan

Susana year ago

From whom? My insurance company, Safeco, didn't offer this (only if it was a long-term renter) and neither did any of the other companies I contacted (AAA, State Farms, Liberty Mutual). I've called Airbnb to ask what they are doing about this -- was told someone from Governance/Legal would get back to me. It hasn't happened yet.



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Roz n' Alyx

Roz n' Alyxa year ago

Ditto ... neither would our insurance company.



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Matt

Matta year ago

I don't see why your liability wouldn't cover it. Insurance currently covers if someone should fall down the stairs and injury themselves as a guest under liability. Why would a bnb guest be any different because if an injury should occur your policy would cover what you would be liable for as a home owner.



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Susan

Susana year ago

Matt,



Talk to your insurance agent. Yes, my insurance does cover that for now. However, renting to guests via airbnb is running a business out of your home & insurance treats home based businesses differently than they do hosting friends & family. Many policies for homes do not cover liability for home based businesses and currently no insurance company I have found offers insurance for the airbnb home based business model.



Susan



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Matt

Matta year ago

Got it :,)



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Anita

Anita10 months ago

As of Jan 2015 Airbnb is providing each host 1 million in personal injury/liability insurance to cover guests. No charge, for now.



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Susan

Susan10 months ago

That's great. Do you know what insurance company is providing the coverage? I'



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Susan

Susan10 months ago

I'd like to share this info with my insurance provider.



Anita

Anita10 months ago

Do not know the provider.



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Deborah

Deborah6 months ago

CBIZ is one of the home insurers which will insure homes that have AIRbnb rentals.



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