Insurance

[Marian3725]

Hi there,

I have been a host at another home where the cottage was a totally separate building. Now we are hosting the basement apartment in our home, so we will be living upstairs. My question is this: Do I still need extra insurance over and above the AirCover that AirBNB offers? I am not telling our current company that we are doing the rental, as they will drop us. This much I know. Any feedback from hosts who actually live in the rental would be great. I looked into Proper Insurance and their quote for half my home was twice what I pay for our entire home. I thought it was beyond high. 

Thanks!!

Marian in Raleigh

[Joan2709 · Accepted solution]

@Marian3725 

I would say yes, you do need your own insurance separate from Airbnb. Doing a quick search here regarding Aircover will emphasize that. 

Other Hosts who rent portions of their Home (home share) can comment about what they do. Some companies allow you to add a rider to your homeowner's policy to cover home share situations and they are usually pretty reasonable. Be sure to read the fine print though and make sure the policy covers loss of income should you need to cancel reservations due to natural disasters (wildfire, tree falls on house, flooding). Proper is the most expensive in the Short Term Rental market, but has the best coverage. I have heard that Steadily is a possible option and more reasonable rates.

Listing Accuracy

If you are renting the basement walk-out only, then use caution as your listing says "entire home." Guests can ask for a refund from Airbnb as they may feel they are booking an entire home (upstairs and downstairs) and do not expect the Host to be living upstairs. Guests will want to know if someone is living above them and you'll need to disclose that on the listing and in the Guest Safety section under "potential for noise". Most Hosts list these type of properties as "Guest Suite" or "Apartment" as there are shared spaces, even if it is just the driveway. Looks like a large space, so I suggest you include the sq footage in the description and mention it is a ground floor walkout to avoid possible issues.

Amenities Missing?

Suggest you go through the entire amenities list as many important amenities are showing as "not included" although I can see from your pictures they are probably available:

[Marian3725]

@Joan2709 Wow this was super helpful! Thank you so much for taking the time to share all this information. I really appreciate it!

[Mike-And-Jane0]

@Marian3725 Oh dear. Can I suggest you just cancel your current insurance to save money. It is worthless as, if you have a claim, they will likely check what you have been using it for and reject your claim even if it has nothing to do with the guests. Aircover is equally worthless as unless the guest is proved to have caused the issue they will not pay so wiring fires/ failed plumbing would not be covered