Home Sharing Insurance – Do You Need It?

Home Sharing

Home sharing is a situation where people share their home, or portions of their house in exchange for compensation. With the rise of companies such as Airbnb, the home sharing business has become increasingly popular.

Home Sharing Liability Insurance

However, home sharing risks that cause claims are usually not covered by the standard home/renters insurance policy. As a result, if you are looking to partake in the home sharing business with your own property, you should seek out third party liability coverage. There are 3 ways you can find protection for your home sharing business.

1. Choose the Host Protection insurance provided by Airbnb, which provides free liability insurance of up to $1 million to protect against personal injury or property damage claims. You can find more details here.
2. Review your home/renters insurance policy terms to see if your insurance company allows home sharing activity.
3. Find third party home sharing insurance to protect you if your current insurance company won’t provide coverage for commercial use of your property.

If you need home/renters insurance quotes to compare, or more home sharing insurance related information, please go to EINSURANCE.com.