Do standard home insurance policies cover Airbnb guest-related damage and liability?
By ShareCover
February 2023
3 min read
Whether you rent out your property for overnight stays or week-long holidays, we can offer you peace of mind that your property is insured against guest-related damage and liability1.
Did you know that standard Home and Contents Insurance policies may not cover you for damage or loss caused by guests renting or sharing your property on Airbnb2?
If you’re a host connecting with travellers by renting out your home on Airbnb, this activity and any damage or liability that arises as a result of you carrying on that activity may be excluded from the scope of cover offered by standard Home and Contents Insurance policies . And because undertaking this activity can give rise to certain risks and liabilities, you may want to ensure that your property is adequately insured in case the unexpected happens.
What type of cover does Airbnb offer?
Although Airbnb provides some protection for all hosts, it only includes protection against personal injury and property damage, with liability cover to the value of $1 million (USD) and damage protection to the value of $1 million (USD)3.
Will I be covered against guest-related damage and liability under Landlord’s Insurance?
Although standard Landlord Insurance policies can offer cover against things like theft, vandalism and damage caused by fire and flood, to be eligible for this cover Landlord Insurance policies may require you to have a residential tenancy agreement in place with the renter, or the renter has to be staying for a minimum period of 90 days.
But when guests book to stay at your home via the Airbnb platform these requirements may not be met, which could mean that you might not be covered by a Landlord Insurance policy. To find out whether your insurance policy offers cover to help protect you against guest-related damage and liability, consider reviewing the terms and conditions of your policy or speaking to your provider.
Tips to lower your risk and help improve the safety of your property
As a host and business owner, consider identifying any potential safety risks at your property and take precautionary actions to help mitigate these risks. After all, as the saying goes: prevention is better than cure. Some simple yet effective ways to help lower your risk and manage potential risks include installing safety railings on steep areas, ordaining slippery areas with non-slip mats, and keeping all furniture and appliances well-maintained and up to date.
How can ShareCover help?
To help protect against guest-related risks and liability, ShareCover offers a Short-Stay Host Insurance policy . Our Short-Stay Host Insurance policy can sit alongside your Home & Contents Insurance policy. So, if a guest accidently slips and falls at an insured property and sustains an injury, or a guest damage an insured property during a stay, we offer cover to our customers for the sum insured for their building (up to $2 million) and contents (up to $500k), as well as up to $10 million of liability cover4.
To find out more, consider contacting our expert customer service team online.
Things to know
1 Cover is subject to standard underwriting guidelines and policy terms. We do not insure spaces that are being sub-let without written consent from the landlord or owner.
2 ShareCover Enterprises is owned by Insurance Australia Limited and is not related to, or in partnership with Airbnb. References to Airbnb on this website do not constitute an endorsement by Airbnb of ShareCover, nor an endorsement of Airbnb by ShareCover.
3 This is based on information available as at 1 December 2022.
4 For a full list of covered events, exclusions, and limitations, please read the Product Disclosure Statement and Target Market Determination.
Disclaimer: This is general advice only and does not take into account your individual objectives, financial situation or needs (“your personal circumstances”). Before using this advice to decide whether to purchase a product, you should consider your personal circumstances and the relevant Product Disclosure Statement and Target Market Determinations available from sharecover.com. Insurance issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681 trading as ShareCover Enterprises.
By ShareCover
February 2023
Insurance
Resources
Insurance issued by Insurance Australia Limited ABN 11 000 016 722 AFS Licence No. 227681 trading as ShareCover Enterprises. This is general advice only and does not take into account your individual objectives, financial situation or needs (“your personal circumstances”). Before using this advice to decide whether to purchase a product, you should consider your personal circumstances and the relevant Product Disclosure Statement (PDS) and Target Market Determinations available on this website. For Short Stay Pay-per night and Short Stay 6 & 12 month policies, please also read our Key Fact Sheets (KFS) for buildings and contents which set out some of the events/risks covered and not covered by those policies and other information you should consider. These sheets do not provide a complete statement of the cover offered, exclusions, conditions and limits that apply under the policies. You should carefully read the Product Disclosure Statement (PDS) and all policy documentation for more details.
To help you make an informed choice on insurance visit the Australian Government website: www.moneysmart.gov.au
ShareCover Enterprises is owned by Insurance Australia Limited and is not related to either Airbnb, Bolt, Booking.com, DiDi, OLA, Shebah, Spacer, Stayz and Uber. References to these platforms on this website do not constitute an endorsement by these platforms of ShareCover nor an endorsement of these platforms by ShareCover; nor IAG being partnered with these platforms.