Insurance for Air bnb that is a primary residence

[Kate2480]

Any suggestions on an australian insurance company for your air bnb that is also your primary residence? We are playing to live in our van when the house is booked. Thanks so much

[Sybe]

Hi @Kate2480 ! Perhaps one of our Australian Hosts @Helen744 @Robin4 @Felicity11 @Laurelle3 @Patty-and-Marty0 @Leanne99 @Josie116 has a good recommendation for you. There's also a Host Club for Australia where you can connect with local Hosts. You can find it on the map here: https://community.withairbnb.com/t5/Local-Host-Clubs/ct-p/en_clubs 🙂

[Felicity11]

Hi @Kate2480 

Welcome to the world of Airbnb.  We have private short term holiday rental insurance for our place. We have found there are now less providers in the market for this type of insurance and the best way to find it was to go through a broker.   

Our Gold fields host community group recently had a webinar on insurance and a company called AB Phillips spoke to us.  They currently work with a few Airbnb hosts in the area. They may be worth getting in touch with to see what options they can give you.   A word of warning, the insurance premiums have gone up a lot in the past year due to the large volume of claims made in the last 3 years.   The SE Qld and Northern NSW floods of 2022 resulted in the largest claims event in Australian history and as a result premiums have increased 20 - 25% across domestic properties.   I hope that helps! Good luck I hope you find someone to work with. 

[Robin4 · Accepted solution]

@Kate2480 

Kate, over the years I have tried to advise other hosts by recommending insurance options when you short term rent on your property and, in many instances I have been shot down by a change in rules, or a newcomer into the field to the point where, I don't recommend specific STR insurance any more!

All I will say is, this is the major STR insurers in Australia and I would advise you to contact each to discuss what is the best insurance for your property and your hosting situation. There is not a 'one size fits all' STR insurance! They all have different insurance options......some insure by the hosting night, some have an annual premium regardless of nights hosted. 

* https://www.rentcover.com.au/insurance/short-term

* https://www.nrma.com.au/holiday-rental-insurance

*https://www.holidayrentalsinsurance.com.au/

*https://www.aami.com.au/home-insurance.html

Of the 4 companies  who purport to be the best STR insurers in Australia this is how the trusted review site Product Review has reviewed them by reports from actual users...........

1/..........

2/..........

3/..........

4/........

Although one of these insurers has only had 2 reviews, those reviews seem to be very favourable.

Personally I insure with EBM Rentcover, I have never made a claim on them so I can't tell you if they are good or bad but their review history does seem to be consistently OK!.....Kate, don't take that as a recommendation, OKAY!

Cheers.......Rob

[Laurelle3]

@Kate2480 Robin4 has given a few choices as he has been in the game of Airbnb for many years with lots of experience and advice which I have used over my 2 1/2years. He is a good ambassador for Australian reviews and ideas.

We currently use Defence Service Homes as my husband was in the services. They are helpful with advice but we haven't had to claim yet.

I have heard Terri Sheer hasc ome back online with STR again. They ceased while covid was beginning.

I have heard also NRMA is good for short stays as you just pay for the nights used.

The Australian FB page for Airbnb this is discussed several times and it is often mentioned to use an insurance broker.

As @Robin4  mentioned you need to ask and shop around as different states have their own set of rules and it also depends on the location.

[Helen744]

@Kate2480 The best bet is to ring a few , the one you currently use for house and contents would be the place to start. I use GIO basically but that of course covers a few as its really the underwriter  who carries the risk .Another thought is to ask your bank if they carry that type of insurance yet as I know the ANZ now calculates Airbnb income in mortgage applications.It should be easy enough to find an insurance for STR  these days as many companies now do it, its basically a variation on rental insurance,... H