Homeowners Insurance Cancelled

[Alice-and-Jeff0]

Got the notice today that my homeowner's insurance from State Farm will be cancelled at our annual renewal date. The reason is because I am running a "bed & breakfast".  This will jeapardize my mortgage too.  Anyone else been able to successfully navigate the next days of phone calls and conversations with underwriters, agents and lenders?  How does the Host Guarantee play here?  How about the Host Insurance rider https://www.airbnb.com/host-protection-insurance?  

All advice welcome.  

[Susan128]

What is the company that is providing your insurance. Sounds great! My insurance went up by $1K with my AirBnB so I am shopping.

[CarlandDiane0]

@Susan128We're using Farmers. But not all Farmers brokerages will write a policy to cover STRs.

Try Foremost, which is Farmers' Lloyd's specialty coverage arm. It may be more but hopefully not that much more.

Good luck!

Carl & Diane

[Angelyn1]

Our independent agent did the research for us and found a company who insures us as a bnb

they are out there.

[Alice-and-Jeff0]

So's here's how it played out.... 

We went to an Insurance broker who sells several company's policies.  They've been getting more and more people who are being dumped by State Farm for all kinds of reasons.  She wasn't surprised that they didn't do more to help.  She had me forward the Host Guarantee and Host Protection Guarantee to provide to any underwriter's who asked.  ERIE INSURANCE took care of our entire homeowner policy (cheaper than State Farm for more coverage) and added and "incidental business" rider on it for a whopping $21/year.  All told, we now have more coverage at a lower price and what seems to be a thankful company that we've chosen to do business with them.  Plus, the broker made it easy as pie to switch.  

Anyone in the North Carolina area looking to work with our broker - PM me and I'll send you the contact details.  (I'd post it here but I think the moderators will block it). 

[Robin129]

We have Erie as well. My local agent lives just a couple houses from me. We talked about the ABB and she took care of the coverage for me. I think it is less than $100 USD per year. The short explanation is we are running a business from our home so normal homeowners insurance isn't appropriate. 

Glad you got it worked out.

[Kate510]

Hey there- interested could you let me know?  Kmlopiccolo@gmx.com. Thanks!!!

[Juliana38]

@Alice-and-Jeff0

So sorry that you are dealing with this. I am in New York State (upstate) and my homeowner's insurance is through Geico. My home is a two family house (I live downstairs and rent upstairs). The insurance company considered Airbnb a "boarder" situation since I live in the house full time and the stays are limited to 14 days or less.th

E stipulation attached is that I cannot host more than 2 guests per bedroom.please keep us informed... I hope this helps. -Juliana 

[Juliana38]

@Alice-and-Jeff0

I think I was typing while you were posting!Oops...glad you got it sorted out! What a relief! -Juliana 

[Tamar26]

I live in Canada and use Square One - they insure even when I do short-term rentals.