There are currently more than 39,000 properties listed on Airbnb in the UK, as more and more people rent out space in their own home to strangers to supplement their income.
This phenomenon, an example of the new "sharing economy", has radically changed the short stay holiday lettings market with hosts and visitors using websites and apps such as Airbnb.com, HomeAway.co.uk, HolidayLettings.co.uk and HouseTrip.com. The scale of the growth in this sector was recognised by the UK government in tax breaks announced in the last budget.
Why do I need Airbnb insurance?
The vast majority of hosts - 80% in the case of Airbnb - rent out their primary residence. However, sharing your home with strangers can be difficult and things can always go wrong, so hosts need to be aware that their standard home insurance will not cover them in the event of loss or damage to their property.
Guest injuries and damage in Airbnb rentals
Worse still, should a paying guest suffer an injury, or have their property damaged, the host would be liable, without recourse to their home insurance.
The consequences could be devastating, for example in the event of damage to an artwork or family heirloom, an injury to a guest or their children from badly maintained wiring or the loss of a guests passports and flight tickets during a stay.
All of these circumstances could lead to claims that standard buildings and contents insurance policies would not cover. This situation naturally makes many hosts feel unprotected from issues arising from listing their home on sites such as Airbnb.
How can Computerquote Insurance help?
Computerquote Specialist Insurance can give you peace of mind by offering insurance cover to Airbnb hosts, as well as owners using other holiday letting websites to arrange paying guests to stay in their own home or another property.
Some hosting websites do offer limited options such as the Airbnb Host Guarantee and Host Protection Insurance program, but these have been criticised for having too many gaps in cover and for offering too little coverage. Many other popular sites such as HolidayLettings.co.uk provide the host with no insurance cover at all.
What to do next
If you let out your own home to guests, make sure you are protected. To get a quote for Airbnb Insurance complete the contact form here:
Alternatively, call our expert staff on 023 9251 0217.
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