Types of Insurance for Bed and Breakfast Businesses
- Physical building insurance
- Public liability coverage
- Property insurance
- Workers compensation
- Business disruption or loss of earnings insurance
Extra Insurance for Airbnb Hosts
Do you need extra insurance for Airbnb? Yes, additional insurance is likely necessary beyond what’s offered by Airbnb. Hosts should consider the following:
- Homeowners insurance for renting out a room in a primary residence
- Commercial insurance for properties rented to long or short-term tenants
Costs and Coverage of Airbnb Insurance
Cost Factors
- Location
- Property value
- Personal liability
Coverage
- Short-term rental insurance for owners includes liability and contents insurance
- Commercial insurance for Airbnb covers property damage, liability claims, lost rental income, and theft
What Airbnb Insurance Covers
- Airbnb Host Protection Insurance for bodily injury or property damage
- Coverage for medical costs, theft, vandalism, fire damage, loss of income, and liability arising from guest injuries
Exclusions from Airbnb Insurance
- Injury or damage to guests not caused by hosts
- Non-guest damage like fire or wind
Considerations for Airbnb Insurance
- Relying solely on homeowners insurance is risky
- A comprehensive insurance policy covers more risks but may be more expensive
Tips for Airbnb Hosts
- Purchase insurance through a broker for the best coverage
- Read the fine print of protection programs to understand coverage and exclusions