AirBnB offers Canadian hosts insurance against guest injury,
Oct 23, 2015 21:36:06 GMT
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Post by educatordave on Oct 23, 2015 21:36:06 GMT
business.financialpost.com/fp-tech-desk/airbnb-offers-canadian-hosts-insurance-against-guest-injury-damage-to-neighbours-property
Here is the Article:
Airbnb wants to make hosts more comfortable about opening their homes to strangers.
Andrew Harrer/BloombergAirbnb wants to make hosts more comfortable about opening their homes to strangers.
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Canadian AirBnB hosts are now covered by insurance that protects them if they’re sued by guests or neighbours.
The San Francisco-based company announced Thursday that it’s extending its Host Protection Insurance Program to 16 countries, including Canada. The insurance has been available to American AirBnB hosts since January of 2015.
AirBnB product lead Jonathan Golden said the company is providing the extended insurance coverage to help make hosts more comfortable about opening their homes to strangers through the service, which links people looking for a short-term place to stay with homeowners and renters looking to make some extra income. AirBnB is now a serious competitor to the hotel industry, with more than two million listings worldwide including more than 33,000 in Canada.
“It’s something hosts have always been looking for,” Golden said. “We want hosts that use AirBnB to really have peace of mind when they’re using the platform.”
AirBnB already insures hosts if their properties are damaged — there have been some high-profile stories of houses and apartments destroyed by guests hosting wild parties, including an orgy at a Calgary home that racked up $150,000 in damage in May. The newly announced Host Protection Insurance Program now offers additional coverage in case one of those orgy participants sues for injury after slipping on a carpet, or in case the neighbours sue for water leaking into their unit after a guest breaks the dishwasher.
Additionally, hosts can now make a claim on AirBnB’s liability insurance before going through their homeowner’s insurance or other coverage they might have. Previously, American hosts covered by the program had to seek compensation from their homeowner’s insurance first, with the Host Protection Insurance Program only stepping in if the host didn’t have other insurance or couldn’t get the costs covered.
Canadian hosts are automatically enrolled in the insurance program at no cost to them, Golden said. It’s also available to landlords in certain circumstances – for example, if a guest slips and falls on stairs to an apartment building and sues the building’s owner as well as the host renting out the unit.
Navigating insurance has been a challenge for sharing-economy companies. It can be tempting for AirBnB hosts, Uber drivers and participants in similar services to fail to inform their insurers to avoid premium hikes, but that gamble can backfire in the event of a claim or a lawsuit.
Golden said he expects insurance options to grow and evolve along with AirBnb.
“We’re going to continue to develop unique solutions to help hosts in terms of making sure they’re covered when a rare event does happen,” he said. “We feel the platform’s only getting stronger and stronger.”
cbrownwell@nationalpost.com
Twitter.com/clabrow
Here is the Article:
Airbnb wants to make hosts more comfortable about opening their homes to strangers.
Andrew Harrer/BloombergAirbnb wants to make hosts more comfortable about opening their homes to strangers.
Twitter Google+ LinkedIn Email Typo? More
Canadian AirBnB hosts are now covered by insurance that protects them if they’re sued by guests or neighbours.
The San Francisco-based company announced Thursday that it’s extending its Host Protection Insurance Program to 16 countries, including Canada. The insurance has been available to American AirBnB hosts since January of 2015.
AirBnB product lead Jonathan Golden said the company is providing the extended insurance coverage to help make hosts more comfortable about opening their homes to strangers through the service, which links people looking for a short-term place to stay with homeowners and renters looking to make some extra income. AirBnB is now a serious competitor to the hotel industry, with more than two million listings worldwide including more than 33,000 in Canada.
“It’s something hosts have always been looking for,” Golden said. “We want hosts that use AirBnB to really have peace of mind when they’re using the platform.”
AirBnB already insures hosts if their properties are damaged — there have been some high-profile stories of houses and apartments destroyed by guests hosting wild parties, including an orgy at a Calgary home that racked up $150,000 in damage in May. The newly announced Host Protection Insurance Program now offers additional coverage in case one of those orgy participants sues for injury after slipping on a carpet, or in case the neighbours sue for water leaking into their unit after a guest breaks the dishwasher.
Additionally, hosts can now make a claim on AirBnB’s liability insurance before going through their homeowner’s insurance or other coverage they might have. Previously, American hosts covered by the program had to seek compensation from their homeowner’s insurance first, with the Host Protection Insurance Program only stepping in if the host didn’t have other insurance or couldn’t get the costs covered.
Canadian hosts are automatically enrolled in the insurance program at no cost to them, Golden said. It’s also available to landlords in certain circumstances – for example, if a guest slips and falls on stairs to an apartment building and sues the building’s owner as well as the host renting out the unit.
Navigating insurance has been a challenge for sharing-economy companies. It can be tempting for AirBnB hosts, Uber drivers and participants in similar services to fail to inform their insurers to avoid premium hikes, but that gamble can backfire in the event of a claim or a lawsuit.
Golden said he expects insurance options to grow and evolve along with AirBnb.
“We’re going to continue to develop unique solutions to help hosts in terms of making sure they’re covered when a rare event does happen,” he said. “We feel the platform’s only getting stronger and stronger.”
cbrownwell@nationalpost.com
Twitter.com/clabrow