Homeowners' Insurance - Help!

[Anonymous]

I have been setting up my home to rent two bedrooms through AirBnB.

Today I talked to my insurance company about adding any coverage that would be needed for this use, and was unpleasantly surprised to find out that if I do AirBnB, They Will Not Cover Me At All.  They assured me that since my policy had just renewed I would still be covered for almost a year, but that they would not renew me, and they would not pay claims related to AirBnB.

They were also unable to provide me with any suggestions of companies that Would cover my home, and so far I have not been able to turn anyone up.

I searched the user forums, and found that this appears to be a fairly common problem, and that there are numerous horror stories of people having their insurance cancelled after just -asking- about AirBnB.  A few of them appear to have lost their mortgage as a result.  The only suggestions I saw were in Australia, New Zealand, and Canada, which does not help me much in the United States.

I called AirBnB support (after considerable effort finding a phone number), and was informed by the agent that she "Never heard of that kind of a problem before". Apparently, she does not read the community forums.  The agent promised to escalate the question to her supervisor, but I have heard nothing yet.

Needless to say, I want to get this taken care of, since it appears that there is a reasonable chance of losing my home over it.

Any suggestions would be appreciated.

[Stacey84]

Did you find another insurance carrier that will cover you? I'm an Airbnb host and independent insurance agent, and I'm researching the alternatives for homeowners. Thanks for any info you can provide!

[Sandy153]

I'm a host in CT and signed a policy with Renaissance Alliance Insurance Services, LLC from MA who offers a surplus homeowners policy underwritten by Lloyd's of London.  The cost was $2,600 per year. This is the only policy my agent could find for me in CT. If you need it, the phone number is (781) 431-9800.

[Chad7]

Sandy...did you get a quote from Proper Insurance?  I found them less expensive for more coverage than anything out there (which is really few and far between).  Your insurance cost is just under what Hartford would have cost me as one other option other than Proper, but the exemptions in coverage were non-negotiable from my perspective.  And Proper provides Lloyds also as underwriter and is nationwide.  Might me useful comparing prices if you have not done so.....

[Sandy153]

Proper wouldn’t quote me because I have an owner occupied Airbnb.

[Sean140]

Sandy I have a number of carriers who can handle this.  Please contact me or visit seanmurphyinsurance.com

Sean Murphy Insurance Agency Worth IL

[Judith441]

Sean- how can I get in touch with you regarding possibly coverage in NC?

[Sean140]

Please call me at my office, 708 361 9430 or email me.  smurphy@farmersagent.com.  

Sean F Murphy Insurance Agency Worth IL

[Lauren2]

does that price cover all of your homeowners insurance or is it just the Airbnb add-on?

[Sean140]

Lauren and Chad please feel free to contact me if you’d like to discuss your insurance needs.  I am able to provide pricing with Proper and a  number of other carriers who are usually less expensive. 

  Sean F Murphy Insurance Agency  Worth,IL

[Kimberly373]

We are interested in hearing more about insurance

[Sean140]

Hi Kimberly. I can help you.  Please contact me. I insure a lot of Airbnb hosts throughout the US.  Sean F Murphy Insurance  Agency Worth IL 708-361-9430

[Sandy153]

It covers all homeowners insurance.

[David126]

@Stacey84

Who do you use?

[Kelley28]

Proper insurance 

[Chad7]

I rent out a guest suite ("inlaw suite") on AirBnB and still occupy the rest of my home.  I researched options and choose Proper Insurance for my coverage.  Yes, it was about twice my regular homeowner cost but they were one of only a couple i could find that would provide adequate full coverage to replace my previous homeowner policy.  The other 1 or 2 I could find were over 4 times the price and place restrictions upon me as the owner (like no smoking, drinking, etc).  

Look into Proper. I am pleased