Does Airbnb Offer Hosts Insurance?
Airbnb generally offers hosts two distinct forms of protection that hosts receive directly from the platform. Both are typically included at no additional cost to the host.
The first protection isn’t technically an insurance but rather a “guarantee.” The Host Guarantee Program normally provides protection for a host’s property, including their building, rooms, possessions, etc. Should a guest damage covered property, this guarantee may pay for up to $1 million in damages.
Importantly, there are a number of exceptions to what the Host Guarantee Program covers. In most cases, the guarantee doesn’t apply to:
- Certain valuable items, such as antiques, collectibles, securities, jewelry and artwork
- Certain types of damage, such as normal wear and damage caused by pets
- Certain areas, such as common areas not mentioned in the Airbnb listing
Thus, the guarantee is a beneficial program but generally shouldn’t be viewed as affording comprehensive protection for a host’s property and possessions.
The second protection is the Host Protection Insurance, and this is an actual form of insurance. This insurance normally provides protection against some third-party injury and property damage claims that guests may file against a should a guest be seriously hurt or sustain significant property loss during a stay, this coverage might pay expenses related to any claim or lawsuit the guest files. Naturally, the coverage is subject to terms, conditions and exclusions.
While the Host Protection Insurance offers valuable insurance protection against third parties, it too isn’t necessarily a comprehensive insurance plan. For example, the insurance typically excludes damage due to pollution, mold or similar causes, and it usually doesn’t cover earnings that hosts might lose. Additionally, coverage is limited to only $1 million -- which may not be enough if there’s a truly tragic accident during a guest’s stay.
Can Hosts Purchase Their Own Airbnb Host Insurance?
A number of insurance companies now offer Airbnb host insurance policies that hosts are free to purchase on their own. The protections afforded by these policies can vary, but they’re frequently more robust and more flexible than the coverages afforded by Airbnb’s standard policy.
Additionally, purchasing a separate Airbnb host policy usually doesn’t impact the guarantee and insurance that Airbnb offers directly. Hosts who get their own policy normally still can file a claim with the Host Guarantee Program or Host Protection Insurance should they need to.
How Can Airbnb Hosts in Massachusetts Get Airbnb Insurance?
If you offer short-term rentals on Airbnb, let the independent insurance agents at Scotti Insurance Agency help you find the protection you need. As independent agents, our team has the freedom necessary to show you policy options from multiple insurers in Massachusetts. As experienced agents, they have the expertise necessary to help you select the best available Airbnb insurance policy.