Insurance for Airbnb and Short-term Rentals Quote Forms
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Insurance for Airbnb and Short-term Rentals Information
If you use your residence or an extra room as a short-term rental or own short-term rental properties, short-term rental insurance can be an additional asset to help protect your ability to make money. While homeowners insurance can provide financial protection against various losses, it may not offer the types and amounts of coverage you need for a short-term or Airbnb rental.
Contact Kinneman Insurance in Alexandria and McLean, Virginia, to learn about your short-term rental insurance options.
What Is Short-term Rental Protection?
Short-term rental protection may help act as a financial safeguard for those who frequently rent out their properties to short-term lodgers (less than 60 days). Standard homeowners insurance policies generally don’t offer coverage if you lease your house, even if it’s just a single room.
What Does Short-term Rental Insurance Cover?
Short-term rentals can be used as a source of income. However, landlords may encounter numerous issues, such as:
- Nonpayment or last-minute cancellation
- Property damage
- Vandalism and theft
- Guest Injuries
Short-term rental insurance can help cover the rental and its contents. The typical policy may include the following:
Understanding Airbnb Insurance
- Structural coverage may help pay for damage to the main body of your home and other structures on your premises.
- Personal property coverage may help pay for damage to your possessions within the property, including electronics and furniture.
- Liability coverage may help cover medical expenses if a tenant sustains an injury on your premises or legal costs if they sue you.
- Loss of income protection may help cover lost earnings if your property is unusable due to covered damages while it’s being repaired.
Airbnb offers a free safety plan: AirCover for Hosts. This service may help provide the following:
- Verification of guest identities
- Reservation screening
- Up to $3 million in host damage protection
- Up to $1 million in host liability insurance
- Up to $1 million in experiences liability insurance
- Access to an around-the-clock security line
While AirCover for Hosts provides security, there may be better options for short-term rental protection. Consult your agent to understand how AirCover for Hosts coverage may overlap with your other insurance policies.
Get a Short-term Rental Quote
Short-term rental insurance is crucial to help protect your ability to make money with your Airbnb or short-term rental property. Contact Kinneman Insurance today to get a personalized short-term rental property quote.