Does landlord insurance cover Airbnb? - Pikl

Does landlord insurance cover Airbnb?

If you’re an Airbnb host and you’re wondering whether landlord insurance covers Airbnb, the answer will depend on your insurer and what cover you’re looking for. Landlord insurance is usually geared towards properties with tenants living there on a minimum contract period of 6 months. Finding insurance like this that also gives you adequate cover for short term hosting isn’t always easy. Read on to find out how to get the right cover.

What does landlord insurance cover Airbnb hosts for?

Getting the right Airbnb landlord insurance cover

I’m not a landlord with tenants. What insurance do I need for Airbnb?

Am I not covered through Airbnb?

Airbnb landlord insurance: key takeaways

What does landlord insurance cover Airbnb hosts for?

Most landlord insurers won’t give you the same type of cover for Airbnb style hosting compared to if you just had long term tenants living in the property. Assuming you’ve already told your insurer that you also rent the property out to short-term paying guests, some will cancel your policy. Most insurers place restrictions on cover, meaning that you could be put of pocket if something happened. Some insurers will also place restrictions on when and how long you can host for over the course of the year as well. Don’t assume that you’re automatically covered by your landlord insurer for Airbnb. If you haven’t informed them of your hosting activity, you may not be covered.

Unless you have specialist insurance through a provider such as Pikl, you may have difficulty finding adequate cover through a standard landlord insurer.

Getting the right Airbnb landlord insurance cover

Being an Airbnb host doesn’t make you a landlord in the typical sense as this term is usually reserved for people that have long term tenants living in their property (See below if you don’t know what kind of insurance you need for Airbnb). If you already have an existing landlord insurance policy, check with them first to see what you’re covered and follow these steps:

  1. Let them know you’re hosting on Airbnb or similar platforms.
  2. Ask them if there’s anything you’re not covered for. That way, you won’t get any unwanted surprises if something does happen later on down the line.
  3. Get them to confirm what they said in writing so you have evidence if needed.
  4. Follow the above steps even if you’re not intending to use them as an insurer for hosting. They will still need to be informed even if you’ve purchased additional cover elsewhere.
  5. Get specialist Airbnb landlord insurance such as the cover provided by Pikl if you’re not able to get the cover you need.

I’m not a landlord with tenants. What insurance do I need for Airbnb?

A ‘landlord’ is a term used to describe someone with long term tenants (such as an AST). If you’re not a landlord, then the type of cover you need depends on how you use the property. If it’s your main residence, then you’ll need a home insurance policy that covers you for this. You’ll also need different insurance for a second home you own and use, although the cover for this is usually more comprehensive. Things like theft and malicious damage by a guest are usually excluded however. Click here for Airbnb home insurance or here for holiday home insurance if either of these apply to you.

The key thing here then is that the type of cover you need is based on ‘property use.’ If you’re not renting your property out full time, you’ll need cover both for when you’re not renting it to short term guests and cover for your main insurance as well.

If you’re renting the property out full time, you’ll need a specialist holiday let insurance policy.

Am I not covered through Airbnb?

All listings on Airbnb are backed by Aircover. This gives hosts a measure of protection for both property damage and liability claims should the guest hold you responsible for something. It shouldn’t however be viewed as a replacement for having the right insurance (even Airbnb themselves state this on their own website). Check out our guide on how Airbnb protects hosts for more a more in depth discussion on this topic.

Airbnb landlord insurance: key takeaways

A lot of terms get used for different types of insurance, which means it can be confusing sometimes. Let’s go over the key points to work out what cover you need for Airbnb:

  1. Being an Airbnb host doesn’t make you a ‘landlord,’ but you will need to let your insurer know you about any hosting activity.
  2. The insurance cover you need as a host depends on how you use the property.
  3. If you do have long term tenants, you’ll need insurance that covers this but also allows you to do Airbnb style hosting if you want adequate protection.
  4. Most landlord policies don’t provide full Airbnb cover as standard and most place restrictions on what you can do.
  5. To get the best cover, you’ll probably need insurance from a specialist provider.

At Pikl, we provide Airbnb landlord insurance built especially for hosts and landlords. We recognise the world has changed, but many traditional insurers still haven’t caught up. Click on the link below to get a quote today.