Airbnb home insurance for UK hosters - recent experiences

[Alex1477]

Unrelated to our doing Airbnb (we live in Wales and are doing really rather well at around 90% occupancy month in month out since only starting last November) I just changed my mortgage company and in the process my financial advisor was obligated to declare our Airbnb to prospective banks - and only ONE did not have a problem with the fact, all the others said absolutely not, end of conversation. Its Halifax by the way. Anyway, our home and contents insurance is due in October and I'm concerned that if I was to declare the Airbnb (which you are infact obligated to do, just as you are required to do if you host lodgers) I'll either be told to naff off or be stung. I've had a quick look around and it appears Direct Line is the only big name that rises to the top. Have any UK hosters come clean to their insurers (not to make a claim, but simply to declare the fact) and if so what happened, and if it went ahead, how much was your additional premium. I'm not a dishonest person by nature but if a significant chunk of my profit went to an insurance company I'd be unhappy. Although we are all covered by Airbnb's hosters cover, that is a secondary cover and would only kick in if your primary insurance declined to pay out - which is what would happen if you were totally honest and said a paying guest spilled a bottle of red wine all over you brand new sofa. But in the course of the conversation they'd say they would refuse to renew and would not cover any Airbnb related incidents up till that point. Seems we're caught between a rock and a hard place.

Thoughts any one? Incidentally, we are very risk averse, run a family home with a spare room on the side so do not attract the kind of guests likely to bring trouble or carelessness to our door. I just am curious as to what happens if you do everything totally by the book.

[Laylee0]

@Alex1477 I’m with Admiral and I got premium cover including Airbnb let for £150 the first year. (With a £500 voluntary excess I think). I paid more the 2nd yr as I was paying it monthly and lowered my voluntary excess. 

How much did Direct Line quote you for? Good to know for when it’s time to renew mine in October. 

And yeah my mortgage is with Halifax and it’s great that they don’t have a problem with Airbnb! 

[Alex1477]

I've not yet got a quote - worried that if I do and either be committed  to leaving one company and/or showing my cards while getting a quote and be left in limbo not only uninsured but insurable at a reasonable cost!

Were you with Admiral and then continued your cover with them after fessing up to Airbnbing or did you go to them for a new quote and get a deal? £150/year is exceptionally good value.

[Harriet-And-Daniel0]

Hi Laylee0.

Admiral told me they only insure Airbnb in the home for up to 90 days per year. Did you not find this or are you renting out a property that is not your home?

Cheers

[Niel3]

I am with HomeProtect (and was before I started renting out 4 rooms via airBNB as a business). They have a dedicated AirBNB insurance plan and when I asked for a revised price with the AirBNB taken into consideration it was only £45 extra to the annual premium from about £340 to £388.

[Michele992]

Just called them £732! Double what I paid last year? 

[Helen350]

@Michele992  I'm also with Home Protect, and changed to them last Jan thru a price comparison site, where they came out cheapest before I mentioned Airbnb. So I rang them, and confessed the Airbnb... To my amazement they said it was OK and I could host 5 guests at a time in my own home for only around £20 pa more! Cheapest insurance on the market, AND Airbnb allowed!

BUT, like Michele, I remember another post which said their premium went up enormously when it came to renewal... I need to renew in January... We will see... I guess they have you over the proverbial barrel, cos if you Airbnb, you can't take your custom elsewhere........ - If my premium rockets, I'll try Admiral.... (Home Protect guy said they were one of 5 who allow Airbnb; I don't know who the other 3 are....)

- Just seen this is an old post, so I've un-tagged older posters - sorry guys if you got intruded upon by an email alert! 🙂

[Alex1477]

very interesting, thanks for the tip!

[Harriet-And-Daniel0]

We have just discovered that our home insurance does not cover us for Airbnb despite being allowed lodgers. Luckily we ave been having a break from it. So I'm currently looking for quotes with Airbnb cover. I live in Peckham so our home and contents is about £500 anyway but Home Protect have quoted me £1360 and Admiral say they only cover to do up to 90 days Airbnbing. Other insurers will only do buildings and not contents. The cheapest I've had is £930 through a broker. So I'm a bit stuck and wondering why it's so difficult and why Airbnb hasn't paved the way for this with some UK companies......

[Michele992]

Hi Harriet, who did you find in the end please? 

[Helen3]

There are about 15 insurance companies offering home insurance for STRs in the UK. Which one you will go with depends on the sort of accommodation you are offering. I would do a Google search and get a few quotes @Michele992