Tag: airbnb insurance

Home sharing participants need short term rental insurance coverage

G. Turner
Short Term Rental Insurance - Airbnb

Airbnb, VBRO and HomeAway members need special coverage for brief or seasonal rentals. Home sharing has become a popular way to earn extra income from a property, but all too many of those owners fail to obtain short term rental insurance. Regardless of whether a condo, seasonal property or home is rented in its entirety or just a portion, these guests are not typically covered by standard homeowners insurance. That said, this doesn’t mean that there isn’t any coverage at all for these helpful income sources. There are many home…

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Standard homeowners insurance policy may not cover short term rental damage

Marc
standard homeowners insurance broken window vandalism

Property owners taking part in short term rental programs are often unaware of their lack of coverage. Property owners considering using their homes as a source of income may want to review their standard homeowners insurance policy before getting started. Many don’t realize that renting out their homes through services such as Airbnb and Kid & Coe stops their coverage as long as the renters are there. The reason is that a typical home insurance policy is meant to cover the homeowners as residents and their guests. This has become…

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Insurance news shows “sharing economy” isn’t adequately covered

Julie Campbell
insurance news coverage

The typical policy is no longer protecting people in certain behaviors that have become commonplace. The latest insurance news from Oregon now includes a statement released by that state’s commissioner with regards to what he called a “sharing economy” and that the typical type of policy does not provide adequate coverage for using a vehicle as a part of a ride sharing service or for renting out a home. In Oregon, the insurance commissioner has previously remained quiet about coverage in these areas. Services such as Uber and Airbnb are…

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