Proper Insurance® is the Nation’s leader in insurance for Airbnb® hosts. They’ve developed a Lloyd’s of London insurance policy uniquely custom for the Airbnb host or owner. It entirely replaces the property owners current insurance policy, offering comprehensive coverage for the building(s), personal property, business property, Airbnb income, and both personal and commercial general liability.
A Lloyd’s of London Insurance Policy For Airbnb Hosts
- Commercial policy designed to replace your current coverage
- Special cause of loss (all-risk) for the building and contents
- Replacement cost valuation (new for old)
- $1,000,000 of commercial liability insurance standard
- Optional $2,000,000 of commercial liability insurance
- No limit on damage caused by a guest
- No limit on theft or vandalism by a guest
- Liquor liability coverage for the host
- Liability extended to amenities such as pools, hot tubs, bicycles, exercise equipment, small watercraft + more
- Actual loss sustained business income coverage
- Bed bug enhancement which triggers lost business income
AirBnB Insurance claims are being denied
(Proper.insure)
An Airbnb host rented her guest house occasionally, and a tree fell and damaged her property. Even though the property was not currently being rented via Airbnb and the damage had nothing to do with a guest, the insurance claim was still denied. The insurance carrier enforced a rental exclusion found in her policy! Please note, these photos are not the actual photos of the insurance claim denial. See Airbnb Insurance Claim Lawsuit Some domestic insurance carriers are offering what’s called a home-sharing endorsement as they do not want to lose business as a result of the Airbnb phenomenon, but buyer beware. These endorsements are very limited in scope and only apply to a “residence premises” or a “primary residence”, meaning the place you live or reside. They are not designed and do not cover a secondary investment properties. Virtually every community across the U.S. is beginning to regulate short-term rentals properties. In virtually every new ordinance or law passed, commercial insurance is a requirement for owners to receive a short-term rental permit. Why is that? The reason is public safety. Commercial insurance provides a higher level of protection for not only the owner, but the community as well. Airbnb activity is a business transaction, it’s being taxed like a business, and owners should carry business insurance. The Proper Insurance policy is a business policy and meets all short-term rental regulations. |