Tailored Home Share Insurance For Letting With Airbnb.

Airbnb is currently the world’s leading hospitality provider and boasts properties to rent all across the globe. Ireland currently has somewhere in the region of 22,000 host properties in every corner of the island. Airbnb has experienced massively accelerated growth over the last number of years proving a massive disruptor to hoteliers, with even the world’s largest most well established chains facing stiff competition. For anyone who’s been residing under a rock since 2008 (FYI you could probably let that space out via Airbnb) the company operates by acting as a platform to allow property owners to let out rooms, houses or apartments to guests.

As more and more Irish property owners have decided to set up a passive income through the hosting platform the same old query keeps cropping up.

“Will my standard insurance policy cover letting a property through Airbnb?”

The short answer is a resounding no. At the very least property owners need to inform insurers immediately if they are letting their property via the company. What property owners can also do is set up a tailored policy from the offset. But are such tailored policies available? As usual Insuremyhouse.ie will get you covered.

Insuremyhouse.ie’s Airbnb Home Share Product

Along with insurers, we have successfully developed a brand new tailored home share product. So who exactly can benefit from taking out a home share policy with Airbnb?

1) Owner occupied principal private residences used for Airbnb hosting in the following circumstances:

• The owner remains in the home and hosts Airbnb guests in the property.
• The owner vacates the property and hosts Airbnb guests for any individual period up to 14 consecutive days and not more than 100 in-consecutive days in any one period of insurance.

2) If I own a second property, an apartment or a holiday home and I let to Airbnb guests on a full time basis. Could I avail of a home share policy?

No Airbnb Home Share is strictly only for owner occupied properties in the scenarios outlined in answer number 1 above. We can consider Granny Flats, Out Buildings and Log Cabins where they are an annex/adjoined to the insured property. Please let us know if you are letting your property full time through Airbnb and we will inform you of what cover options are available.

3) Will Airbnb Home Share cover all liabilities arising from Airbnb use?

No – Airbnb provide independent cover for hosts and guests (incorporated into their price) while our Airbnb Home Share product will provide standard household buildings and contents cover.

Airbnb Host Guarantee provides cover of up to €800,000 for hosts to cover damage to property incurred as a result of Airbnb hosting.

4) What other benefits will I enjoy with Airbnb Home Share?

• Airbnb Home Share has 24/7 Home Emergency Assistance provided as standard: up to €260.00 plus vat on any one call out and up to 3 call outs per year.
• Hosts should make the Home Emergency Assistance number clearly visible in the property so that in the event of an emergency arising when the guest is on site the consequences may be limited and not develop into a bigger issue.
• Airbnb Home Share will also provide loss of income of up to €250.00 in any one period of insurance where a claim arising from an insured peril leads to the cancellation of an imminent confirmed Airbnb booking.

If you don’t qualify for our Airbnb Home Share then please tell us and we’ll see what we can do to arrange alternative cover tailored specifically to your needs. We can see just how many Irish property owners are opting to use Airbnb to create a passive income and, at Insuremyhouse.ie, we are committed to changing with the times and providing our clients with the cover they need at a price they’ll love.

Whether you apply for our new home share policy or not; get a quick quote today. Call us on 01 603 2999 and speak to one of our house insurance specialists directly. Or fill out our quick online quote form here.