Canceling my multiple reservations

[Michael497]

Hello,

I have recently started listing our property on Airbnb. We currently have 6 reservations in the coming months.

I have recently found out that our insurance company would not cover us from the moment we start renting unless we pay an exorbitant premium, that would kill any profits we might make. (we were originally told our premium would not change when we first enquired about listing the property and went ahead with that information).

I am faced with the possibility of having to cancel these reservations and abandon the listing on Airbnb. With a possible cancelation fee of up to $250.

What would happen with the cancellation penalty if I had to do this?

It says on the help page "We'll automatically deduct any applicable cancellation fees from your next payout", but as I won't have any payouts will I be billed seperately for that money or would I pay that off if I ever re-listed and rented the property?

Thanks for your time

Michael

[David126]

I do not know what they do, but they can I believe seek reimbursement if you cancel and remove your listing.

[Lisa293]

@Michael497

Andrew has some good suggestions.  

https://community.airbnb.com/t5/Hosts/How-to-avoid-cancellation-fees-and-penalties/m-p/235675/highli...

United Kingdom

+44 203 318 1111

https://www.airbnb.co.uk/meetups  I wonder if someone could recommend an alternate insurer?

Good luck.

[Andrew90]

@Lisa293. Thanks, glad to see someone read my post 🙂

[Lisa293]

@Andrew90

I think this is the most helpful post I have seen to date.  

[Michael497]

Thanks for the link. That's really useful. Im getting some new insurance quoets so hopefully this can all be avoided!

[Sandra126]

I would look at getting another insurer, one that does short term rentals/holiday rentals. Mine was not very expensive but I did have to change company as my normal one will not touch it. Don't use the word ''accommodation'', just ''holiday rental''. If I was to offer bed AND breakfast the policy went up by quite a bit as food regulations entered the scene but just as a holiday rental it was not bad. Try!

[Michael497]

Thanks for the advice.

I've found a few insurers that may be able to help so will give them a call.