Insurance

[Dale-and-Jo0]

Just rang SGIC and they don`t provide Landlords insurance as you have to have clients be there for at least one month, not weekly or 3-4 days. Have to go through a  Company  Share.com,  any advice ?

What insurance does everyone get and with who ???

[Glenys0]

I recently discovered that many insurance companies in Australia will not cover you if your property is listed with Air BNB. I phoned my

insurer to check and they said no so I let them know that I would be cancelling my policy asap when I could find someone who would

cover me. Within 2 minutes they called back after discovering that a policy change had been affected and I was covered as long as we

were resident at the property. However I am getting this in writing to attach to my policy. BEWARE and check with your provider. The

company I am insured with is RACQ in Queensland. Air BNB is not an insurer nor do they have an underwriter to my knowledge.

[Robin4]

@Glenys0 Hi Glenys. I have made a study of what insurance protection is on offer to cover the short term rental maket in Australia. You are correct in that the blanket response from general insureres will be to threaten clients with policy cancelation if they use the services of a hosting platform but, the short term rental market has grown so fast that insurance companies are now climbing on the 'bandwagon' and offering policies that are specifically designed to cover this market. In fact, on application they specifically ask which platform (Airbnb, Stayz, Homeaway) the host requires protection for!!

Glenys, I have at present established that there are 4 major insurers plus 2 large brokerage firms in Australia who are offering hosting coverage, and I have Product Disclosure Satements from each of them, and every day I am making further enquiries!
I will compile a complete list of insurers, the coverage they offer, abreviated terms and conditions, and prices they charge, which I make available to hosts in this country on request.

This list I should have available within two weeks. 

In this post thread hit the @ key and my name profile should appear as an option. This will alert me to your request and I will respond. 

[Kile0]

ashley@Proper.insure 

It is a specialized STR policy. Tell them Kile in Houston recommended them.  

[Brian--Brian--and-Pharao0]

I checked Proper and have to say that while the liability portion is very reasonable, the property premium is outrageous...4 times my current homeowner's policy rate with a 30% higher deductible.

[Rebecca34]

Anyone know of a company or broker that covers airbnb?