Taking inspiration from the text originally published by @Colleen32 , here's what I have done. We own a house on a small lake. We have a dock, rowboat, fire pit and a lakeside deck. Like Colleen, we post the text below in the House Rules section of our listing plus:
> Print a copy that is the first page inside the activities binder we keep inside the house
> Post a No Diving sign on the dock and a Swim at Your Own Risk sign near the water
> Add a short note to any photo captions showing the dock, waterfront or rowboat that says. PLEASE READ HOUSE RULES BEFORE BOOKING.
Here is the text we use in the House Rules section, written by a human, for humans:
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LIABILITY WAIVER: Our property provides you with a unique opportunity to swim, fish, enjoy the decks, dock, fire pit, and use the rowboat(s). We want you to take advantage of these amenities and have a memorable visit. However, by agreeing to our Airbnb House Rules, you acknowledge that there are inherent risks involved with participating in these activities and that lakes, docks, decks, stairs, campfires and boating may present dangers for adults and children. Children must be carefully supervised at all times when near the water. If you swim or use the rowboat (especially children) we strongly recommend the use of life jackets which are provided for you and your guests. Because the water at the end of the dock is only 4' deep, no diving off the dock is allowed. By agreeing to the House Rules, you acknowledge the potential risks discussed above, agree to accept full responsibility for any bodily injury that may occur to you and others in your party, and waive any claim whatsoever against the owners for accidents or claims arising from these activities.
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Here's my view on the topic:
1. Lawyers are opportunistic, but also pragmatic. They work on commission. If a client comes to them and said their 12 year old dove off the dock and injured their neck, the lawyer is absolutely going to take a case if no waiver or signs were posted. But if a "No Diving" sign was clearly posted and disclaimers were made in the listing prior to booking, they will probably decline the case and move on to lower hanging fruit. Would an attorney drafted 10 page liability waiver signed by everyone staying in the house be better? Sure. Is is realistic to get this? Not for me.
2. Your homeowners policy probably does not cover short term rentals. Just because your policy says it has $300,000 of liability coverage does not mean that coverage extends to rental guests. Also, in our case, our insurance forbids us from having any watercraft with a motor that a guest could access so we stick to human powered watercraft. Ask your agent.
3. Get an umbrella liability policy. $1,000,000 of coverage is quite cheap and well worth the cost. This kicks in after your homeowners policy.
4. Don't in a million years assume that Airbnb's million dollar liability coverage is going to cover you. Do you really think Airbnb is going to stroke a seven figure check to your guest without a fight? They, too, would be looking at what precautions you made, what signs you had posted, what disclaimers you noted in the listing. In this situation, it's more likely that you would be fighting Airbnb to come to your aid. Don't bet on it. Count on your homeowners and liability policies instead, and think of Airbnb as bonus coverage that may or may not exist.
Look, the reality is that millions of stays happen each year without incident. Yes, guests do stupid ** and those events get publicized. Yes, you could lose everything if you don't take precautions. But if you take modest steps to limit your liability without putting off guests, you should sleep pretty well at night. I do.