A recent survey by Admiral Host Insurance revealed that 41% of homeowners wrongly believe their home insurance will cover them for any damage caused by an Airbnb guest.
Despite over 50,000 hosts in the UK using sites like Wimdu, Homestay and Airbnb, there is still some confusion over what is covered by a normal home insurance policy.
Users of Airbnb will be familiar with its Host Guarantee, which does offer some protection to those advertising their home through the site, but many hosts are looking for a more comprehensive cover.
For example, Admiral Host Insurance protects your valuable items such as jewellery, art and tablets up to the value of £5,000 (or however much you state on your policy if you keep them in a safe) - Airbnb's Host Guarantee will not cover such items.
Why does Admiral offer host insurance?
Having seen just how popular sites like Airbnb and Wimdu have become, we wanted to make sure our customers had the right cover in place should they ever need to make a claim due to a paying guest. And so, Admiral Host Insurance was introduced.
It makes the process of short-term home rental easier and gives the right protection to those who need it. You can include host insurance when you start your normal home insurance policy, and you can then rent your house out for up to 90 days a year.
You can advertise your home or rooms online knowing your home and its contents are covered. And, as long as you tell us at the start of your policy, you don't have to tell us each time you have a guest staying as long as they're within the 90 day limit!
To keep things simple and to keep you protected, the cover includes everything you'd expect from an Admiral Home Insurance policy. The only difference is:
- A limit of £5,000 applies for theft, malicious damage and accidental damage to high risk items, unless kept in a locked safe.
So alongside the standard cover of fire, theft, burst pipes and flooding, you can also protect against malicious and accidental damage all year round. Admiral Host Insurance will be your first port-of-call if anything goes wrong.
Am I eligible for Airbnb host insurance?
If the property is your main residence, you own/have a mortgage on the property and you fulfil the rest of the criteria for Admiral Home Insurance, then you can get Admiral Host Insurance.
Are landlords eligible?
Unfortunately not. We can only cover people who occupy the property as their main residence, rather than people who rent the property out long term.
Are B&Bs covered?
No. We will only cover properties when it is the policyholder's main residence, with cover for hosting guests limited to a maximum of 90 days over the course of the policy.
What is the excess?
The excesses will remain the same as our normal home insurance product, with Admiral, Gold and Platinum having excesses of £50, £75 and £100 respectively.
Which websites can I advertise on?
The home sharing sites we currently allow are Airbnb, Wimdu, Homestay and Onefinestay. You can rent your property on any of these four platforms over the course of the year - you aren't limited to just one!
How do I purchase this cover?
The cover is only available when you buy a new insurance policy, and must be arranged over the phone. Just call 03303335502 and quote 'HOST' to the advisor.
How do I claim?
Call our Claims department or visit the ‘make a claim page’ for more information on making a claim. We’re open Mon-Thu 8am - 9pm, Fri 8am - 6pm, Sat 9am - 5pm, Sun 10am - 4pm.
- Ready to list your home on Airbnb? Check out our guide for 9 top tips on being the perfect host and making sure your ad stands out from the crowd