I have a studio apartment which I have just started hosting on Airbnb. Can anyone advise which insurers provide basic landlords insurance cover?
Hi @BrettLaz, welcome to the community.
While AirBNB indicates it provides some level of protection, it strongly recommends those advertising on their platform have their own insurances. There are many reports online about AirBNB refusing claims individuals thought were covered by AirBNB.
There are a range, but can be complicated when using a booking platform that may provide some insurance/liability protection like AirBNB. Some insurers chose not to provide insurance coverage in such cases as if there is a claim, they might refuse processing a claim was there may be ambiguity in relation to who is the responsible underwriter/insurer (is it AirBNB or the insurer).
With our own business, we have chosen not to use AirBNB as a booking platform, because if we did and due to the nature of the business and property, it would make gaining any insurance cover very challenging.
I suggest that you go to an insurance broker, as they will ensure the right insurance is taken for your needs, without increasing your own risks. A broker can be found using the industry website…
Suncorp does not cover Airbnb. See the discussion here:
Touche! Thanks zackarii
Our insurance broker had trouble getting insurance for our holiday house last year after I stated that it was advertised on Airbnb. The house had been insured as short term rental for the 10 years we had owned it. Previously it had been advertised on Stayz and the property managers own website, which has continued along with air bnb. Previously as long as there was a property manager there was no problem with getting insurance. I argued that the situation had not changed. Eventually the broker found an insurer but it was not easy.
I found it incomprehensible that the nature of the advertising site would affect insurance availability.
Welcome to the Community @Marge53
While it might not click, different booking sites have differing dominant customer demographics and thus customer profiles that would relate to risk. It could be that simple, or just be a broad brush?