Homeowners Insurance - Portland OR

[Craig320]

This is my third year hosting on Airbnb. I rent out a small ADU (Accessory Dwelling Unit) behind my house. My insurance sky rocketed this year to almost 3k with Proper Insurance and this is no longer sustainable. Looking for alternatives? 

[Ramie0]

I'm running into the same problem. Interested to see others' input.

[Rebecca181]

I had to drop Proper for the same reasons. I spoke with Slice and the coverage and process looks good. However, cost effectiveness will depend on how many nights a year you plan to rent it. Link here: https://slice.is/homeshare/- Best of luck!

[Allory0]

We built an ADU and just started renting it through AirBnB in July.  We had to switch our entire policy from PEMCO to Allstate to be able to insure the ADU as a short-term rental.  It only costs about $300 for a 2-bedroom, 800 SF ADU on top of the cost for our main house.  It is so cheap because it is treated like a secondary policy because you have a certain amount of insurance through AirBnB first.  I'd recommend you talk to an Allstate broker.  All of the other short-term specific insurance companies I talked to had ridiculously expensive policies.

[Rebecca181]

@Allory0  I myself would never rely on Airbnb's coverage as my primary coverage on the rental attached to my house. Too many incidences of Airbnb not honoring claims. Do you have thoughts on this? Maybe I am missing something and this could be an option for me, too. Thanks!

[Allory0]

Hi @Rebecca181, I'm not an insurance expert so I would recommend talking to a broker specifically about how this works & what Allstate covers but it is my understanding that Allstate will provide any coverage that AirBnB does not and they would use their legal team to negotiate with AirBnB if AirBnB wasn't honoring what their insurance commits to because they would be on the hook for paying if AirBnB did not.

[Rebecca181]

Great, @Allory0, I will indeed explore this option, thanks so much!

[Billy106]

I could see airbnb tieing up Slice in court for years if a home burned down or it was a big claim, no way would I depend on airbnb host insurance for anything big.