Renting your home out while it is unoccupied has become very popular across the US through the company Airbnb. Unfortunately, not all guests leave the house the way that they found it. Airbnb has started to offer insurance to the homeowners to try to give them some coverage. It may sound great, but it is not as extensive as one that does not read the fine print may think. Host guarantee and host protection insurance is the two programs set up to give homeowners some protection.
A host guarantee is meant to protect hosts form property damage to the home or the possessions of the host. This does not replace your homeowners or renters insurance. When damage occurs, the homeowner has to try to resolve the problem with the renter before contacting Airbnb. The damage has to occur within the booking period and must be reported within 14 days.
Host protection Insurance
Host protection insurance is liability coverage for up to $1 million. This is only in the event of property damage or bodily injury. This insurance does not cover the personal property of the host. The claim must be denied by the homeowners insurance of the host. Overstay or early arrival is also not covered. This does not cover intentional acts, slander/defamation, property issues, and auto accidents. The “loss of earrings, personal and advertising injury, fungi and bacteria, Chinese drywall, communicable diseases, acts of terrorism, product liability, pollution, and asbestos, lead, or silica” are also not covered.