Security deposit

[Betty39]

I am wondering what is the best amount for a security deposit. I have had $250.00 but I was wondering if someone burnt down my house should I include the value of the house?  I Airbnb has a $100,000,000 insurance coverage what is the differance? 

[Christian65]

Hi Betty!

I think you are going to have big problems renting out a single room if you ask for a deposit of the value of the entire house.

Your insurrance should cover most but the deposit I use in my house is for if people break the TV or other things.

The airbnb insurance have expections but have a look here what it covers.

https://www.airbnb.com/help/article/937/what-is-host-protection-insurance

[Victoria57]

@Betty39your own house insurance should cover you if a guest burnt the house down. Providing of course you have told your insurance company that you are an Airbnb host.

[David126]

The cover provided by AirBnB is very limited and in the example you gave you would need to show the fire was down the guest and the basis of settlement is not anything like as generous as under a regulsr insurance.

Most important factor is making sure you have Insurance that includes short term rental activities.