You also need to consider the safety of the guest and the fact you could be found liable for virtually any bodily injury they may sustain while staying at your property.

In addition, you need to consider the significant damage a guest could cause to your property, such as a fire or vandalism. When you allow guests or travelers to book your property on Airbnb, you have crossed into hospitality law, and homeowners or landlord insurance doesn’t cut it. Unfortunately, with this ease of use comes huge property and liability insurance concerns. Virtually any property owner can advertise on Airbnb and instantly be competing with Hilton and Marriott for traveler’s lodging dollars. Just ten years ago, there were only 200,000 short-term rental properties in the U.S., primarily marketed via local property managers now, because of Airbnb, there are over 2,000,000. The Airbnb phenomenon has changed the vacation rental and travel industry forever. It’s the most comprehensive short-term rental insurance an Airbnb or Vrbo owner can purchase, and it’s offered in all 50 states. It’s all-inclusive short-term rental insurance custom-penned with Lloyd’s of London and Concert Specialty and covers the unique risks associated with short-term vacation rental properties.

Think of it as a homeowner’s policy, a landlord policy, and a business policy all wrapped into one! However, with trademarked endorsements, the Proper Policy covers your property and liability for all four uses. Some have had guests or tenants for over 30 days. The challenge was quadruple use or occupancy of the properties, as most vacation rental properties are used for short-term commercial and personal use and are sometimes unoccupied. It also includes personal liability when the short-term or vacation rental “doubles” as the owner’s primary residence, which is the case for many Airbnb and Vrbo hosts. It is written as a commercial business policy, giving the short-term vacation rental owner comprehensive coverage for their building(s), contents, commercial business liability, and lost business income. The Proper Insurance policy was created to replace the property owner’s current homeowner’s (HO) or landlord’s (DP) insurance policy.

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