Homeowner’s Insurance

[Lori3976]

Has anyone had issues with their current homeowners insurance carrier and with your Airbnb? Our Airbnb is on our property but in a detached, independent building. 

Our agent is having an issue with Progressive and our homeowners coverage. 

Is the Aircover airbnb insurance through Airbnb adequate to replace building in the event of loss or is it damage/contents and liability only. 

Thanks for any insights!

[Joan2709]

@Lori3976 

The short answer is...do not rely on Aircover to protect your property. Just type Aircover in the search the community box above and you'll see what I mean. It's not even an insurance policy. Airbnb calls it a "Host Damage Protection Plan".  

Even small claims for guest damage reimbursement are torturous. Lots of exclusions, limitations and restrictions. Also, Aircover will only reimburse depreciated value - not replacement value.

Aircover 

https://www.airbnb.com/help/article/2869

I always advise Hosts to obtain their own separate short term rental insurance and not rely on Aircover. Your homeowner's policy will not cover running a commercial business (Airbnb on the property). This is why you are having issues with Progressive. There are several companies in the US that offer STR insurance, but be advised it can be much more expensive than homeowner's insurance as there is more risk. Below are some companies that offer STR insurance:

CBIZ

Farmers (thru Foremost)

Allstate

Safely

Steadily

Proper (most expensive, but most comprehensive)

[Lori3976]

Thank you so much! Excellent information!