Should I get insurance before starting STR?

[Christine2874]

Hello fellow hosts I’m new at hosting and I have a couple of questions regarding insurance, should I take out contents and building insurance or do I take out insurance with air bnb? I am not sure how this works , any advice would be greatly appreciated Christine 

[Emiel1]

@Christine2874 

Airbnb does not provide building insurance, they only offer Host Protection insurance and a Host Guarantee feature, which are both additions and not replacements for normal insurance.

The difference between Host Guarantee and Host Protection insurance

[M199]

@Christine2874 

Do not rely on any insurance coverage except what you contract with your home insurance provider.  If you search the community for "home insurance"  I think you will find the conversations very informative.

[Sarah977]

@Christine2874  Trying to get Airbnb to pay up for damages is a frustrating and often fruitless endeavor. If a guest destroys a$1000 sofa, they'll tell you it's considered normal wear and tear, or that depreciation means that they'll only cover $150.

Their so-called host guarantee is smoke and mirrors. You need your own short term insurance policy if you are renting out an entire place.

[Dale711]

Welcome to community, @Christine2874 !

Airbnb is a booking platform.

The short answer is that as an Airbnb host, you do need additional insurance.

Hosting with any natural frequency is likely to void your current homeowners' policy, and Airbnb's protection is inadequate.

In the Airbnb help page, where you’ll find articles such as the below.

Host Guaranteed

https://www.airbnb.com/d/guarantee

Host Protection Insurance

https://www.airbnb.com/d/host-protection-insurance

What's the difference between Airbnb's Host Guarantee and Host Protection Insurance?

 https://www.airbnb.com/help/article/938/whats-the-difference-between-airbnbs-host-guarantee-and-host...

Investopedia

Investopedia is the world's leading source of financial content on the web, ranging from market news to retirement strategies, investing education to insights from advisor

Airbnb: Advantages and Disadvantage

https://www.investopedia.com/articles/personal-finance/032814/pros-and-cons-using-airbnb.asp

Do consult with your local insurance agency for additional protection and the insurance procedures.

Happy Hosting!