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Airbnb has two types of insurance for hosts: Host Protection Insurance and Host Guarantee. Host Protection Insurance is a liability policy that covers injury or property damage claims made against you by third parties, while Host Guarantee covers damage inflicted on your property by guests.
Each policy offers up to $1 million of protection per incident. You're automatically enrolled in these programs whenever a guest makes a reservation at your property, but you're only eligible for coverage if you follow your city or state's laws regarding home-sharing.
Additionally, your existing renters or homeowners insurance might also protect your property from damage related to Airbnb or other home-sharing services. However, coverage often applies only as long as you're renting your property just occasionally — a term that may be defined differently by different insurers.
What does Airbnb's insurance cover?
Airbnb's Host Protection liability insurance protects you if a guest or another individual makes a claim against you.
Airbnb's liability insurance extends to all areas associated with your property, such as your apartment building's lobby. It also applies to automobiles and mobile homes if they are listed on Airbnb's website as accommodations.
Airbnb's liability insurance doesn't cover damage to your property, either. This is where Airbnb's Host Guarantee comes in.
When does AirBnb's insurance cover your property?
Airbnb's Host Guarantee covers damage to your belongings caused by guests staying on your property, up to $1 million. Unlike the Host Protection Insurance, this program isn't a form of insurance, although it has some similarities to regular personal property coverage.
After an incident, you have 30 days in total to complete the entire claim process. First, you must try to come to a resolution with the responsible guest. You have 14 days after your guest checks out to contact the person and notify Airbnb if the guest refuses to compensate you for damages. You must then provide documentation to Airbnb of the incident, including proof of ownership, as well as pictures and descriptions of the damage. Failure to adhere to any part of this timeline could disqualify you from receiving any reimbursement.
If your claim is successful, you may receive compensation equal to the actual cash value of your property — meaning the item's worth minus any deductions for physical depreciation. Unfortunately, unlike your regular insurance, there's no way to upgrade to guaranteed replacement coverage.
You aren't protected by Airbnb's Host Guarantee if your property suffers damage from weather-related events or if your guests injure your pet. Any costs from mold or mildew are also excluded from this type of insurance by Airbnb. Host Guarantee doesn't provide coverage of special items you might own such as jewelry, collectibles or artwork.
Does renters insurance cover Airbnb?
Either your renters and homeowners insurance policy might cover some property damage caused by guests, including those participating in home-sharing programs like Airbnb. Typically, a renters insurance or homeowners insurance policy still protects your property as long as you only rent it out occasionally.
As with Airbnb's own insurance agreements, you could run into problems with your renters insurance if your lease doesn't allow you to participate in home-sharing. If you fail to inform your insurer that you're hosting Airbnb guests or do so against your insurer's rules, and you have to make a claim, it will probably be denied.
Is Airbnb insurance available everywhere?
Although Airbnb insurance is available for free to any host on the platform, states within the U.S. have their own laws regarding home-sharing that could determine whether you qualify for protection under Host Guarantee or Host Protection Insurance.
To access Airbnb's insurance services, you must cooperate with your local laws and landlord or condominium board rules regarding home-sharing services. In some cities, like New York, this might mean complying with zoning laws, applying for commercial permits or paying extra taxes when you rent your property. If you ignore these kinds of regulations, you may be disqualifying yourself from the benefits of Airbnb insurance.