The sharing economy is on the rise in America, with many people using their home for rental property. like homes (with Airbnb or VRBO)
More and more people are using services like VRBO and Airbnb to find vacation rentals. As a result, many people are using their homes to develop rental income. A standard homeowner’s policy may not cover losses incurred while your home is rented out. You may require a more specialized insurance policy.
Key Homeowner’s Insurance Concerns With Rental Property
There are only a few insurance carriers willing to write an Airbnb liability insurance policy. We have experience with insurers who handle this kind of risk. While sharing economy companies like AirBnB and VRBO offer a “master agreement” that seems to cover a lot, reviewing that with an actual insurance agent will always be in your best interest to ensure adequate coverage.