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How can I insure my UK Airbnb home?

Letting part of or the whole property to a stranger can be a risky strategy. It is thus important that when you are looking to rent out your property on a short term basis that you have the correct cover. Airbnb offers hosts a convenient way to rent out part of or the whole of their properties for holiday or business purposes across the UK. Users are able to book online using the Airbnb system and have a response from the host within 24 hours. It is a new way to let out property, making it an interesting investment. It is important then to have peace of mind and the correct homeowners or renter’s insurance policy.

To compare Airbnb host insurance is very important and we are able to do this for you as we have a market that provides for it. It is not an easy market in insurance terms and often people do not get it correct when covering their property investment. You could use a comparison site online but they often don’t offer the right type of cover.

If you have decided to list your home, protect it and its contents. We provide standard home insurance for landlords that market they’re property through sites like Airbnb and Stayz. It will give you the insurance company’s cover you need for your short term let.

 

Does your lease allow you to rent out your property on a short term let?

We understand a lot of people wish to use Airbnb to try and rent out their property and gain some more valuable income. They often find that a short term let can work a lot better for them and produce much more income than doing it on a long term basis. But, what they fail to realise is that this could be in contravention of their lease and cause them major problems.

We understand that in various cities such as London and Brighton that the law is quite specific when it comes to short term lets. These are a lease and as such a freeholder can issue proceedings against the lessee to stop them renting it out. This can affect the long-time viability of the flat and you should always check to see whether you have consent or not. This is mainly arisen due to hen and stag parties and has caused a lot of problems within certain buildings.

You need to seriously consider exactly what your potential liability claims will be by any neighbour or freeholder. It is thus so important that you have host protection insurance in respect of the property.

 

Will the building insurance for the whole building cover me for the property?

This is very unlikely. A lot of insurance companies don’t like covering Airbnb properties within a whole block. It can affect the insurance coverage of that particular property. You should again go back to the freeholder if you are in a flat and make sure you are covered. But if it is a house you should also ensure that you have the correct insurance. What many people don’t realise is not having the correct insurance will mean that your insurance company may not pay out. If you do not disclose that you are letting the property on an Airbnb basis. You may only be doing this say two or three months of the year but it is critical to make full disclosure.

 

How Does Our Host Insurance Work?

You rent out your home or other property for short-term rentals through an online booking site. That service may provide you with a limited Airbnb host guarantee but the coverage will not be comprehensive. For instance, it wouldn’t protect against a third party claim. Without correct cover, you as a landlord, are leaving yourself open to huge financial risk. Some sites offer limited liability cover for when an Airbnb guest has an accident in your property. This wouldn’t cover if a postman or someone not staying in the property has an accident. So you are still liable. Does Airbnb provide liability insurance? Online booking sites do not offer public liability protection in any way and/or do not provide cover for the loss of booking income. So you would forego the income while damages are being repaired. The host insurance packages offered by online services are inadequate. It is up to you to protect yourself. At iInsure365 you can be sure of the right cover with our Airbnb insurance uk. So that you have peace of mind when renting a room on Airbnb or the whole house.

 

Property damage by paying guests

You will often find when it comes to Airbnb that guests staying often leave problems such as property damage. Can you get insurance to cover this? This is a difficult situation and not always an accident. It could be an act of malice as such and the insurance wouldn’t necessarily cover this. You would have taken a security deposit and thus any property damage to the home should come out of this first. Best to do that before going to the Insurance Company, especially considering that they may not always payout.

No matter how clean and careful your Airbnb guests might be. You will always need to accept that not every traveller would treat your Airbnb property with as much respect as you do.

Some people are clumsy in the kitchen, they might leave you with a broken plate. Some guests might be traveling with children so they might leave greasy fingerprints on glass doors etc. These things might be disappointing to see but they are not worth making a big deal about and not worth making an insurance claim for.

There will always be the issue of “wear and tear” to take into account. For example, if a guest spills red wine on your carpet but the carpet is already stained do you really have grounds to make a claim against them? This is something that the insurance may well cover.

Examples of “wear and tear” are:-

 

What does property damage mean?

These are cases that are very black and white when it comes to damage to your Airbnb property. For example, if an Airbnb guest knocks over a bottle of nail polish on to your sofa. Or if they drop something heavy that makes a hole in your floorboard. Maybe they can reverse their car over your newly landscaped garden. Or steal something that belongs to the property like electrical goods or even valuable items. In this instance, it is important that you are aware that any security deposit you may have taken is used first. Any insurance company will have an excess and you are not always going to gain back the insurance you are going to get.

You also need to be aware if you are letting on Airbnb whether it becomes a long term let or not.

 

How Can I Protect My Spare Room?

Our host insurance gives you the host protection you need. The policy offers insurance for hosts who let to short-term paying guests. The policy includes building and contents insurance for anyone in a rent a room scheme. The building cover protects the structure of your property damage including breakage of glass windows and theft of keys. It includes loss of rent following an insured event. So you don’t miss out on earnings while the property is undergoing repairs. The contents cover provides extensive coverage of all your possessions in the property. It covers everything in the communal areas, including outside garden equipment and furniture. The Host insurance package includes public liability insurance. This covers legal liability for hosts. Airbnb insurance also provides you with Property Owners Liability Cover and Employers Liability cover. This means if someone has an accident in your property you have the right cover in place. For a competitive quote, please fill in the following form.

Don’t hesitate to contact us to discuss having a quote.

We can provide you with unrivalled cover at a fantastic premium. All of our staff are fully trained and able to provide you with any information you may require. Why not look at our google reviews consistent five stairs can’t be wrong. You will never speak to an automated person and will always speak to an individual.

Please do not hesitate to contact us. Why not call us on (01273) 827090.

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I have been in the estate and lettings industry for over 35 years. So, I have often needed to source Landlords Buildings Insurance for both myself and my wife. iInsure365 have made the process extremely easy and simple. Similarly, I wish all business dealings were the same.
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